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Jysk plans to open 15 stores per year in Russia

MOSCOW. Sept 15 (Interfax) – Danish retailer Jysk, which is developing a chain of furniture and home goods stores, plans to open 15 stores per year in Russia; in the future, the Russian business will enter the top five in terms of chain size, the company said.

Jysk plans to open six new stores in Russia by the end of 2021, increasing their total number to 13, CEO of the retailer’s Russian subdivision Igor Raic told Interfax in an interview. Jysk also plans to expand beyond the borders of Moscow this year, starting from the regions closest to it.

"In the long term, we plan to open 15 stores per year," Raic said.

Over the horizon of 10-15 years, the number of Jysk stores in Russia will grow to around 200, the retailer said. As a result, Russia should enter the top five in terms of chain size.

"If we look at the global plan in terms of the number of stores per country, our goal is for Russia to enter the top five markets with the greatest number of sales points. Based on this ambitious strategy, we believe the Russian market will become one of the most significant in the world for Jysk," Raic said.

As reported, IKEA’s Danish competitor opened its first store in Russia in Moscow in June 2020. Its eighth store will open at the end of September 2021, in Tula.

At the global level, the Jysk chain unites 2,949 stores, including 206 franchise stores, according to data as of the end of financial year 2019-2020, ending August 31, 2020. The top five countries in terms of the number of the retailer’s own stores included Germany with 966, Poland – 236, Sweden, – 149, Denmark – 109, and the Netherlands – 102.