Retail throughout the year A milestone year for JYSK 45 years ago, Lars Larsen opened the first JYSK store in Denmark. Five years later, the first store in Germany followed, which would go on to become a fast-growing market for JYSK. Since the opening on 2 April 1979, JYSK has grown to become an international retailer with more than 3,400 stores across 48 coun- tries with 31,000 employees and a turnover of DKK 41.4 billion in the financial year 2023/24. The biggest JYSK market Just as growth is at the cornerstone of Lars Larsen Group today, so it was for our founder, Lars Larsen, from the very beginning and he always had high ambitions for his life’s work, JYSK. Therefore, after just five years in the Danish market, he expanded the brand to Germany. A smart move, considering that Germany has since become the largest market for JYSK measured by the number of stores. The first German store opened in March 1984 in Flensburg and 2024 thus marks 40 years of JYSK in Germany. In connection with the celebration of this milestone, CEO and President of JYSK, Rami Jensen, said: "A huge congratulations to JYSK in Germany. Germany was the first country our founder, Lars Larsen, expanded to outside Denmark, and the development in Germany has clearly exceeded all expectations. I would like to thank our employees and country management for their great work and dedication, and I look for- ward to celebrating the next milestones for JYSK in Germany." By the end of the financial year 2023/24, JYSK had reached 116 stores in Denmark, 943 stores in Germany, and more than 3,400 stores across all 48 JYSK countries. MANAGEMENT' S R EVIEW RETAIL THROUGHOUT THE YEAR LARS LARSEN GROUP | ANNUAL REPORT 2023/24 | PAGE 36 Rami Jensen, President and CEO of JYSK
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