The retailer is therefore going ahead with the plan to increase the number of stores to 100 in the next five years, as previously announced.
“We opened ten new stores in the financial 2015 (September 1, 2014-August 31, 2015) and four already existing stores underwent extensive remodeling, moving from a franchised to a conceptually Scandinavian store,” Alexandru Bratu, country manager of JYSK for Romania and Bulgaria, told ZF in an e-mail interview.
“Long-term expansion plans have not changed in any way, we still want to reach 100 stores by the end of 2020. We don’t have a specific region or area in mind, we want to go everywhere. We would be happy with 15 new stores a year.”
JYSK first entered Romania as a franchise and then the retailer bought the stores in Romania and Bulgaria, putting their management in the hands of the executive in Bucharest.
JYSK posted more than 100 million lei (EUR22 million) revenue for the first time in the financial 2014, according to Finance Ministry data, an increase of 57% on the previous year. Profit remained unchanged at RON1.7 million.
JYSK revenue rose by 70% in the financial 2015, which ended August 31, 2015, Alexandru Bratu said.
(English version by Loredana Fratila-Cristescu)