Denmark's JYSK plans further expansion in China
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JYSK Group, a furniture retail giant based in Denmark, on Monday announced plans to open 500 stores in China and said it will establish its China headquarters in Shanghai, the Shanghai Daily reported.
JYSK said it will open a first batch of six to ten stores in Shanghai by the end of next year. The first batch of stores will each cover an area of 1,000 square meters to 1,500 square meters.
The new stores are expected to earn profits for the company within a short time.
Jakob Sonnenberg, China manager of JYSK Holding, said the company's capital flow remains steady and expressed his confidence in China's furniture market, saying that now is a good time to increase investment as the company aims to boost market share globally while its rivals may be hurt by the financial crisis.
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