Record Results and Succession Planning at JYSK

Despite the closed stores and restrictions, JYSK globally achieved record revenue of 4.386 billion euros in its 2020/21 fiscal year (ended August 31, 2021).

It achieved sales of 69.2 million euros in the UK and Ireland, demonstrating sales growth of + 67% year-on-year.

“I am very happy that we were able to increase sales by + 7% despite the fact that our stores were temporarily closed in almost all markets,” said JYSK President and CEO Jan Bøgh. “I see this both as a result of customers in Europe spending more on furniture in general, and thanks to the fact that my colleagues across countries quickly adapted to a new situation and became more focused on selling. online and Click & Collect. “

Online sales grew by + 43% (accounting for 28.6% of total UK sales), in addition to JYSK’s Click & Collect results. “Because customers pay in-store, it doesn’t count as online sales in JYSK in terms of accounting, but obviously the interaction between our online stores and our physical stores has been absolutely crucial for us to be able to increase our turnover in the last financial year, ”says Jan.

JYSK’s customer base grew by 230,000 year-on-year, with significant growth in new territories including Ireland and Belgium.

At the end of the year, JYSK had 3,085 stores – 136 more than the previous year.

Jan has also taken on the new role of President and CEO of Lars Larsen Group Retail, to focus on retail businesses across the group and additional acquisition opportunities.

“Jan is already chairman of the board of directors of ILVA, SOFACOMPANY and SengeSpecialisten, and is on the board of directors of Bolia. By freeing him from day-to-day management responsibilities at JYSK, he has much more time to work on development and acquisitions, ”said Jacob Brunsborg, Chairman of the Board of Directors of Lars Larsen Group.

Rami Jensen will assume the position of Group Chairman and CEO on September 1, 2023.

“It’s about making important decisions in a timely manner. Jan had promised my father and me that he would be in charge of the entire process of merging JYSK Nordic and Dänisches Bettenlager into one unit. schedule, Jan can accomplish this task, at the same time he has a year to work alongside Rami Jensen to prepare him for this role. This provides the necessary continuity, which means we can keep the momentum going while doing changes, ”says Jacob.

Jan concludes: “Lars Larsen often called JYSK his child. I probably see myself as the “nanny”. I had an amazing time with JYSK, and it’s important to me that we can make the change without slowing down. This is why I am also happy that Rami has accepted the position, because he knows JYSK thoroughly and can be at the forefront of JYSK’s continued development without compromising the values ​​on which the company is built. “

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