Danish furniture retailer JYSK to expand with stores in Romanian capital Bucharest

With 13 stores outside Romanian capital city Bucharest, the Danish furniture retailer JYSK Romania will also enter the Bucharest market, estimating to have up to seven stores in the city in the next years. The Danish company, brought to Romania by Nordic Retail Fund Investment, will this week open its first store in Militari Shopping Center in Bucharest. The store will cover 1,600 sqm, which required an investment of EUR 1 million. The first store opened by JYSK in Romania was in Oradea. Its network was completed with units in Arad, Baia Mare, Constanta, Cluj, Deva, Galati, Pitesti, Satu Mare, Suceava, Targu-Mures and Timisoara. Oradea is the only city where the company owns two stores. In 2009, the company recorded a turnover of EUR 12.8 million and a loss of EUR 2.4 million in Romania, according to data available at the Ministry of Finance. For 2011 the turnover is expected to increase by 10 to 12 percent compared to last year, aiming to reach at least EUR 16 million in tyhe country. Irina Popescu, irina.popescu@romania-insider.com