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Friday, 29.03.2024, 09:55
Latvian company invests EUR 1.2 million in first Jysk household goods retail store in Belarus
The new store with the total area of 2,600 square meters in Minsk was opened today.
It is planned that at least 25 Jysk stores will be opened in Belarus during the next ten years.
Expansion to Belarus was entirely the initiative of Jysk management team in the Baltics, said Zundure, adding that the second Jysk store in Belarus was to be opened before the end of this year.
At present there are 27 Jysk stores in the three Baltic states - 11 stores in Lithuania and eight in each Latvia and Estonia.
In 2015, Do It reported a turnover of EUR 51.051 mln, up 14.4% from 2015, but its profit dropped 33% y-o-y to EUR 3.176 mln, according to Firmas.lv business information database.
Do It develops sales strategy, selects products and supplies them to Jysk stores in the Baltic states.
Founded in 2005, Do it belongs to Lithuanian-registered JYSK Baltic UAB (33.33%), Estonian-registered Jysk Linnen'n Furniture OU (33.33%) and Latvian-registered SIA Jysk Linnen'n Furniture (33.33%) as well as Icelandic company Joska Eignarhaldsfelag ehf av PLC (0.02%) which also owns Latvia's SIA Jysk Linnen'n Furniture.