Global Scandinavian-owned furnishings group JYSK has announced a five-year growth plan for the UK that will see its GB store portfolio increase by almost 350% at August 2024.
Its strategic plan will put the UK as a significant contributor to JYSK’s group ambition to reach the 5,000 store target worldwide, with the GB contribution at 52 stores.
Country manager for JYSK UK, David Ashton, said: “We must grow intelligently – maximising each region of the UK – to create and develop localised brand awareness and customer recognition. This is why our primary focus remains in central and northern UK regions, adding to the 19 stores we will finish FY19 with (+30% growth on FY18).
“In order to grow, we need to develop a fantastic pipeline of talent – JYSK UK’s future leaders. This will enable our expansion goal to match our internal recruitment target of 90% for all future management positions, because expansion and people growth really do go hand in hand.
“Our experience is that striking the right note with shoppers is the key to a retail business that thrives. We would argue that UK retail isn’t dying, it’s simply changing the ground rules. Retailers have to listen, anticipate, re-group and adapt.”
JYSK relocated its Lincoln store 4 May 2019 and broke all previous records for a Grand Opening weekend – taking one month’s sales in the first two days – with the new concept 3.0 format store at a new and purpose-built retail park. New territories are already signed up, with early 2019 openings including St Helens (15 June), Bradford (29 June) and Wakefield, (3 August).