Step aside, Forever 21.
Irish teen retailer Primark has arrived in America, Buzzfeed reports, with its premiere stateside store in Boston, Massachusetts. The retailer has seriously competitive prices — shirts are just $US1.60!
Primark’s entrance in to the United States market could seriously disrupt other teen retailers, according to Morgan Stanley analysts.
The store’s catchphrase is “amazing fashion, amazing prices.”
In a release earlier this year, the retailer announced it plans to bring several stores to the United States.
Like the other fast fashion giants, Primark offers the latest designs at insanely low prices. But Primark wins the eternal limbo contest between fast fashion retailers. How low can you go? Primark can go lower! A handbag costs $US9, while leggings are just $US6. Boots will run you about $US24.
Never mind traditional teen retailers like Abercrombie & Fitch and American Eagle. While these companies have made steps to offer cheaper clothing, their selections are still much more expensive than those at fast fashion retailers.
And with teens, the cheaper, the better.
But Primark’s jarringly low price points mean fast fashion has reached a whole new level.
One analyst from Cowen & Co. told Buzzfeed this marked “fast fashion 2.0.”
Of course, such low prices may raise some eyebrows, but Primark maintains that its “prices are low because Primark operates differently than other retailers, reducing its costs by working smart and lean,” as a spokesperson told Buzzfeed. “In turn this saving is passed on to its customers.
Buzzfeed points out that these clothes are frequently lower in quality, but that Goldman Sachs analysts informed the news site that this did not matter to customers. They just want their clothes to be super cheap.
Ashley Lutz contributed to this story.
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