During this month, Ikea's competitor will open two more stores, one in Sintra and another in Vila Nova de Gaia. There will be openings in Ovar, Portimão and two others that do not yet have a defined location, Carlos Haba, director of JYSK in Portugal and Spain, told ECO. The openings and renovation of three stores (Coimbra, Gaia and Estoril) represent an investment of four million euros.

In May, the company will open its first technology hub in Portugal, in the city of Lisbon, to meet the needs of its customers, and expects to have between 10 and 15 employees specialised in software engineering by the end of the summer.

In Portugal, JYSK's revenue in the 2023-2024 fiscal year reached a record turnover of 44.9 million euros, which represents growth compared to 35.3 million euros in the previous year.

“Over the years, we have seen strong growth in turnover in the Portuguese market, with 2024 being another year of record turnover”, says Carlos Haba, who considers “acceptance by Portuguese consumers to be the major lever for this growth”.

Carlos Haba, director of JYSK in Portugal and Spain JYSK The Danish company has invested 300 million euros in a logistics distribution center in Almenara, in the province of Castellón, Spain, which is expected to be completed in 2027. “This opening solidifies JYSK's position in the Iberian and North African markets, serving as the main base of operations for Portugal, Spain and Morocco,” the director of JYSK Portugal and Spain tells ECO, anticipating that this distribution center will create around 250 new jobs.

The expansion also includes the opening of the first JYSK store in Casablanca, Morocco, the brand’s first step towards expanding outside of the European continent. In the expansion plan presented in Cascais, the group expects to “reach 300 stores in Spain and Portugal by 2028”.

Globally, JYSK employs 31,000 people and has more than 3,500 physical and online stores in over 50 countries. In the fiscal year 2023/2034, it had a turnover of 5.6 billion euros, which represents an increase of 7.6% compared to the previous year.