JYSK Vietnam plans up to 20 stores
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Furniture retailer JYSK Vietnam has opened the first of 10 to 20 planned stores.
The announcement comes just a month after the Danish brand opened its first outlets in Singapore, stores-in-stores within larger outlets operated by its local partner Courts.
It has selected NeatClean as its Vietnamese partner with the first shop scheduled to open today (October 28) and a second on November 27.
NeatClean JSC chairman Doan Hong Hai, told Vietnamese news media he believes the JYSK brand has a positive future in the country.
“We will focus on middle-class customers and plan to open 10 to 20 shops in the next five years,” Hai said.
Despite being Denmark’s largest international retailer, the brand’s Asian presence before it landed in Singapore, was limited to China and Indonesia, where it trades under the JYSK Nordic brand.
JYSK was founded in 1979 and now has more than 2200 stores in more than 39 countries and annual sales of euro 2.8 billion.
Questions & Answers
Q.Which company is JYSK partnering with for its expansion into Vietnam?
Which company is JYSK partnering with for its expansion into Vietnam?
JYSK has selected NeatClean as its Vietnamese partner. NeatClean JSC chairman Doan Hong Hai commented on the brand's positive future in the country and their plans for new shop openings.
Q.What is the target demographic for JYSK's new stores in Vietnam?
What is the target demographic for JYSK's new stores in Vietnam?
JYSK Vietnam plans to focus on middle-class customers. NeatClean JSC chairman Doan Hong Hai stated this focus when discussing their strategy for the new shops opening in the country.
Q.When did JYSK expand into Singapore and how did it structure that entry?
When did JYSK expand into Singapore and how did it structure that entry?
JYSK opened its first outlets in Singapore just a month before the Vietnam announcement. These were stores-in-stores located within larger outlets operated by its local partner, Courts, in Singapore.
Q.What is the planned timeline for JYSK's store openings in Vietnam?
What is the planned timeline for JYSK's store openings in Vietnam?
JYSK Vietnam plans to open between 10 and 20 shops over the next five years. The first store is scheduled for October 28, with a second opening on November 27.
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