Danish furniture and home goods retailer JYSK said it had decided to close stores in Russia completely. Previously, the retailer suspended the operation of those stores and online sales in Russia until further notice, on March 3. As of March 31, the JYSK stores in Russia will reopen temporarily for clearance sale.
“We entered the Russian market with the intention of making a great offer for the Russians, and we had a great start in Russia, for which I can only praise all the colleagues involved. However, in the current situation, the management team and our owners see do not see any alternative to closing our operations in Russia”, JYSK President and CEO Jan Bogh was quoted as saying in the statement.
JYSK opened its first store in Russia in Moscow in June 2020. The network currently comprises 13 stores. JYSK planned to grow this to 200 over 10-15 years, making Russia one of its top five countries by network size.