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

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

3 March 2021 ` 20:29  

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.

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