Business Strategy Essay Example | Topics and Well Written Essays - 2000 words - 5

Business Strategy - Essay Example It is high time for the business houses to develop efficient strategy, aligning with the changing scenario, so that they are able to sustain the changing times effectively. Primark has been a global name of repute in the clothing industry functional in Europe. It was in the year of 1969 that the first store of this leading clothing brand was inaugurated at Mary Street of Dublin in Ireland. The success of the first store led to establishment of four more stores with in a year with in the periphery of Greater Dublin. By 1971, the company had more than 15 stores in Ireland. In 1974, the group expanded to Great Britain with two high street stores in Derby and Bristol. By the end of the year 1984, the group had 44 stores, half of which were in Ireland and the other half in the United Kingdom. 1984 had been a remarkable year for the budgeted clothing group as it witnesses first multiple acquisitions by the group in lieu of five Woolworth stores (Primark, n.d.). A subsidiary of the Associated British Foods, Plc, Primark also have many other acquisitions, takeovers and mergers in its credit. In the year 1995, it acquired BHS One-Up Discount Chain and Co-Op which also included Reading Property. Among other notable acquisitions by Primark includes that of Littlewoods and six stores from Allders. Apart from the number of stores being opened in the Ireland and United Kingdom, the company ventured in to other European nations too. In 2006, Primark opened its first store in Madrid (Plenilunio) of Spain. It moved to Netherlands (at Rotterdam) in the year of 2008 and this year it has also entered in to Portugal (Lisbon) and Germany (at Bremen). Mission statement of a company defines the real motto of the organisation. In fact, it emphasises the very reason of existence of the company along with its future course of action. The mission, the vision and the objectives of the company also enables the share holders and other