Retail throughout the year JYSK expands to two new continents In the financial year 2024/25, the retail chain JYSK continues its expansion even further by adding two new countries to the global JYSK-map, where 48 countries are already pinned. When JYSK opened its first two stores in Türkiye in 2023, it was part of an elaborate expansion plan outside of Europe which was cemented through an additional two stores in Istanbul in 2024. During the financial year 2024/25, JYSK plans to double the number of stores in Türkiye to a total of eight stores as well as the web shop, JYSK.com.tr. In the pursuit of a declared goal of 5,000 stores world-wide, which was set forward by founder Lars Larsen, JYSK will soon enter not only an additional two new countries but also two new continents. JYSK in Africa and South America First of all, JYSK will be launching in Morocco in 2025. Preparations are in full swing, as it takes approximately 18 months to launch a new country in JYSK. A new distribution centre, which is to be built in Almenara, Spain, will come to provide a strong logistics setup in the future in terms of supplying stores on the African continent with goods. Secondly, JYSK’s great Scandinavian offers within sleeping and living will be making their way to the South American continent in the spring of 2025, where the local-based Antelo Group plans to open the first JYSK Franchise store in Uruguay. Antelo Group already operates a number of other retail chains in Uruguay. JYSK is currently present in 48 countries across the globe with more than 3,400 stores. 20 of these countries and around 200 of the stores are operated by franchisees. About JYSK Franchise JYSK Franchise is an integrated business concept in JYSK, directed from the head office in Brabrand, Denmark. The first JYSK Franchise store opened in Greenland in 1984, just five years after the first JYSK store opened in Denmark in 1979. Since then, JYSK Franchise has expanded to many different countries, primarily outside Europe, spanning from Canada and Kuwait to Vietnam and the UAE. Morocco JYSK stores Franchise stores Uruguay MANAGEMENT'S REVIEW RETAIL THROUGHOUT THE YEAR LARS LARSEN GROUP | ANNUAL REPORT 2023/24 | PAGE 37
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