Dublin "fast-fashion" chain Primark will anchor the former Filene's building in Downtown Crossing with a first-in-the-U.S. store expected to bring a fresh vibe to the re-emerging Hub shopping district.
Primark is slated to open in 2015 on the first four floors of the building, which also will include a Roche Bros. supermarket and ad firm Arnold Worldwide's new headquarters.
One of the largest clothing retailers in Europe with 271 stores, Primark touts its "value-for-money" prices. The Boston location is planned as its flagship for the Northeast, where it says negotiations are under way to open other stores through mid-2016.
"We'll open some stores, we'll start to learn, we'll see what sort of reception we get, and we'll take it from there," George Weston, CEO of Primark's London parent company, Associated British Foods, told Reuters.
Primark's success in new markets, including Spain, Germany and France, meant it "earned the right" to enter the United States, according to Weston. "We're not assuming that we'll succeed, but we do have a powerful proposition in terms of fashionability at very low prices," he said.
Primark leased 112,000 square feet from Millennium Partners, whose $630 million project will include 450 luxury condos in the new Millennium Tower, in addition to the refurbished Filene's building.
"One of the most important goals ... was to bring someone to the site that would bring energy, vitality (and) feed off what's there and enhance it," Millennium partner Mario Palumbo said. "The excitement of bringing an Irish retailer to the most prominent retailing site in Boston is fantastic. They're uniquely good at what they do."
Primark competes in fast-fashion with Uniqlo, H&M, Forever 21 and Zara. Fast-fashion retailers are known for the quick pace with which they bring new clothing into their stores and are among the fastest growing retail companies.
"It's a store that will be unique and special and create some buzz and … that's what downtown Boston needs," retail consultant Michael Tesler said.
Primark started in 1969 in Ireland, where it operates as Penneys. It will benefit from the $2.8 million in city tax breaks given to Millennium, which offered Primark "economic lease terms they found acceptable because of the property tax relief on the commercial portion of the building in the early years of the lease," a Millennium spokeswoman said.
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