Denmark’s Jysk to build €51mn warehouse in Bulgaria

By bne IntelliNews January 14, 2016

Danish-owned furniture and interior design retail chain Jysk is set to invest BGN100mn (€51mn) to build a large distribution centre near the Bulgarian capital of Sofia.

The company has booked a land area of some 300,000 square metres for the new warehouse, which will serve outlets in southern and eastern Europe, an industry source who declined to be named, told bne IntelliNews.

Separately, Bulgarian economy minister Bozhidar Lukarski said in a January 14 interview for Standart daily that a BGN100mn Danish investment in the Bozhurishte industrial zone, 15km away from the Sofia city centre, will be officially launched next week. He elaborated that the investment is in the furniture sector without disclosing further details.

In the presentation of its annual results last month, Jysk’s founder Lars Larsen said the company would spend more than €130mn to build new warehouses in Germany and Bulgaria as well as expand its distribution centre in Uldum in Denmark in order to keep up with demand.

Presently, Jysk has seven distribution centres in Europe and one in China. The company runs more than 2,300 stores in 41 countries and has 20,000 employees.

In Bulgaria, Jysk has only six stores, but in the SEE region it has a total of 143 stores, including 39 in Croatia, 29 in Romania, 24 in Serbia, 19 in Slovenia, 17 in Bosnia and Herzegovina, and one in Macedonia. The retailer entered Montenegro and Albania last year, opening two stores in each of the countries, as well as Greece with four stores.

The Bozhurishte industrial zone is planned to span over an area of 2.6mn sq m. Presently, only 581,000sq m are ready, while the remaining is planned to be completed by the end of 2016.

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