JYSK will invest €60 million to open 120 new shops on the Iberian Peninsula over the next four years, an expansion plan that will expand its presence across shopping centres, retail parks and high-street locations.
The Spanish market will account for the bulk of this growth, with between 80 and 100 new stores, while Portugal will see its current network increase by approximately 50%.
The company plans to open around 30 openings per year, which will enable the company to significantly exceed the current total of around 230 stores it operates in both countries.
The brand will maintain a flexible expansion model, with openings in both large cities and smaller towns, as well as new outlets in city centres, retail parks and shopping centres – formats that will continue to form part of its expansion strategy.
The new stores will have an average floor area of 1,300 sqm and stock around 2,000 products. Their offer will be complemented by JYSK's unified retail model, integrating online sales, home delivery and click-and-collect services.
The plan will also have an impact on employment. According to the company’s forecasts, each new store opening will generate around ten direct jobs, which would mean the creation of some 1,200 jobs in Iberia over the next four years.
