Irish fashion retailer Primark is expanding its presence in Spain opening its 41st store in the country.

The new Madrid store will be the group's biggest outlet in the country, and its flagship store, employing 573 people.

The new store covers 133,000 square feet of retail space over five floors and is located in the in the historic building of "Almacenes Madrid-Paris' on the Gran Via.

The former Almacenes Madrid-Paris opened in January 1924, with the aim of bringing the French 'grands magasins' to Spanish society.

"Spain has been one of our most important markets in Europe since the first store opened in 2006," a spokesperson for Primark said.

"The new Gran Vía store is a key store opening in the company’s business strategy in this country, occupying an historic site in the Spanish capital’s business and commercial hub, Gran Vía".