// Primark is investing £90m in its second biggest market after Britain, Spain
// The business will be opening 8 new stores, including areas such as Lanzarote and the Spanish enclave of Melilla
Primark is set to spend around £90 million expanding in Spain, its second-biggest market after Britain, This is Money has reported.
The Associated British Foods-owned value retailer, which has 408 stores in 14 countries will be opening eight stores including on Lanzarote and the Spanish enclave of Melilla, in north Africa.
As part of the expansion plan, Primark will be hiring more than 1,000 staff over the next two years.
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Despite numerous high-street retailers struggling with stiff competition from online-only brands, Primark has kept expanding thanks to its budget-friendly prices.
The retailer has said it will hold prices steady despite rising inflation although it cautioned that rising input costs wil hit its results in the new financial year.
Last month it said it would invest £140million in UK stores over the next two years, as it boosts its UK presence, betting on its low prices luring customers as they grapple with a cost-of-living crisis.
The new stores will be located in Bury St Edmunds, Craigavon, Salisbury and Teesside Park. Primark is relocating its shops to better spots in Bradford and High Wycombe.
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