Danish home retail brand, JYSK, is searching for retail properties across the country so that it can open 40 stores.
Its rapid expansion plans follow the successful opening of four Irish stores. The Naas store performed second best out of 1,200 stores across the JYSK Nordic division of the JYSK Group in its opening month.
JYSK had announced plans to open 15 Irish stores within 2 years, but it is now aiming to open 40 stores over the next three to five years, with a forecasted turnover of €70 million.
The brand will host a meet and greet with potential landlords in the Red Cow Moran Hotel in Dublin on September 16. Landlords from across the country are invited to meet with the JYSK team and present their available properties on the day.
Poul Erik Larsen, Expansion Director at JYSK, said there are a number of issues that could hinder the company's growth here. "It has been very difficult, time consuming, and expensive to open new stores in Ireland. We have noted that in other parts of Europe we can issue and sign a lease contract within 2-4 weeks, whereas in Ireland, this is taking up to 16 weeks in some cases.
"To achieve the volume of stores we want in the Irish market within 2-3 years, we need to secure a steady flow of new locations and that is something we're actively pursuing right now," he said.
Roni Tuominen, Head of Retail at JYSK Ireland, said the appetite for JYSK’s offering is there amongst Irish consumers, and the company has seen this in its revision of forecasted figures for 2019, which have been increased by almost 50%. "Unlike some other large retail brands, we want new JYSK locations in towns and cities all over Ireland, so we can contribute to the local economy, especially in smaller communities where our job creation will be extremely valuable."
Founded in Denmark in 1979 by Lars Larsen, JYSK’s Scandinavian design has made the brand known across the world. Over the past four decades, JYSK has expanded to 52 countries, with more than 2,800 stores worldwide employing 23,000 people.