Danish JYSK to open 200 stores in Russia over the next 10–15 years

The Danish furniture retailer entered the Russian market in June 2020 when it opened its first store in Moscow. As of year-end 2020, four JYSK stores had appeared in Russia, all of them – in Moscow. This year, the company is going to open 8 or 9 more stores in Moscow and the Moscow region. Ten more new stores are scheduled for 2022.

The Russian branch of the company notes that it takes about €300,000–350,000 to open one store. A similar amount was required to open a JYSK warehouse in the Moscow region to serve online customers. The company’s online platform began operating in Russia almost simultaneously with the first brick-and-mortar store. Due to high demand from Russian consumers, the online store then needed a reboot. The revenue of the Russian branch of the company in January–July 2020 amounted to 370 million rubles.