Primark is reducing prices by up to 29 per cent across hundreds of best-selling womenswear, menswear, and kidswear products as it prepares for a demerger from owner Associated British Foods (ABF).

The cuts, implemented across its 19 global markets on Monday, form the core of the clothing retailer’s new ‘Iconic Value’ branding that is intended to solidify its market position prior to its ABF split at the end of 2027. According to Primark, six in ten customers saying good value is the most important factor when clothes shopping .

The price cuts coincide with investments intended to improve quality, fit, and style across the affected product lines. The company is set to roll out new seasonal styles, “innovative” fabrics, and improvements to fit and durability.

In stores, the lines will be marked with Iconic Value branding, alongside streamlined ranges intended to “make value easier to find”.

Matt Houston, chief customer officer at Primark, commented: “Value matters to customers today more than ever and for more than fifty years customers have trusted us as the destination on the high street for great value fashion at prices you can’t find anywhere else.

“We want to continue to lead the way in shaping what affordable fashion looks like and give our customers the confidence that they can always trust Primark for the very best prices but without compromising on style or on quality.”

Departments across Primark are working to prepare for its break with ABF. In June, the company poached its new chief financial officer, Lucy Slinger, from the world’s largest IKEA franchiser Ingka Group, saying she will play a “critical role” in its ongoing growth strategy.

---