Update from our CEO: Preparing for the next 40 years

Dear colleagues,

A lot is going on in JYSK, and I am very happy to take this opportunity to tell you all more about some of it.

First of all, JYSK has turned 40. This is of course not news, as we have known this for 40 years, but we should all be proud of being a part of the great journey of JYSK.

Perhaps turning 40 also means that we are no longer a young company, but it does not mean that we have settled down.

On the contrary, JYSK is still a company with an appetite for expansion and eager to become known all over the world.

Therefore, I was also very happy to celebrate the anniversary in Ireland, where Lars Larsen personally opened the first Irish store, which will of course be only one of many.

After Ireland, I went directly to Belgium to be part of the opening of the first JYSK store in the French-speaking part of the country, and the enthusiasm and energy I met from colleagues in both countries proves to me that everyone in JYSK still wants to be part of developing and expanding our company.

However, the opening in Ireland does mean that we now have stores all over Europe. Not as many stores as we should have, but stores enough to make it necessary to look even harder at the world map to decide where to expand next.

Lars Larsen has said that JYSK should have at least 5,000 stores, and I do not think there will be room for that many stores in Europe.

New strategy

Therefore, expansion outside Europe has been one of the important themes when creating a new strategy for JYSK for the next three years.

The strategy is something you will all hear more about in the months to come.

What I will say so far is that we have been working hard to find the right answers to the most important issues for JYSK.

Besides looking for the right places to expand, this also includes how to win online, how to ensure focus on costs, how to utilise data better, and how to attract and retain the right talents.

We believe that these are some of the key ways to stay one of the most successful retailers in the world.

Joining forces

Finally, I would like to mention that I also have a new job.

This does not mean that I will leave JYSK, but the decision to merge JYSK Nordic and Dänisches Bettenlager means a lot of interesting challenges ahead. Not only for me, but for the whole Management Team.

For most of you, however, the decision will not make any difference in our everyday work.

However, I am convinced that it will make JYSK stronger as a company.

With twice the number of stores, and a lot more colleagues to contribute to the success of JYSK, I am sure that the merger of JYSK Nordic and Dänisches Bettenlager is a good decision, and I look forward to all of us making the best of it.

Best regards,

Jan Bøgh
CEO & President