While many retailers are facing a fight for their survival in the wake of Covid-19, Danish household and furniture specialist Jysk appears to be going from strength to strength.
Having already opened seven outlets across Ireland, the company pressed ahead, in the midst of the lockdown, with an agreement to open its first Dublin store at Gulliver's Retail Park in Northwood, Santry. The popular retail chain signed a 10-year lease with the Cosgrave Property Group on June 8th for a 7,667sq ft unit at the scheme, and commenced fit-out works one week later. The new store is expected to open for business in October.
Commenting on Jysk's plans for the Irish market, the company's head of retail in Ireland, Roni Tuominen said: "It goes without saying that in this Covid-19 environment safety needs to come first, but with unemployment in Ireland at a record high we all need to help. I am delighted to say that all seven of our stores have reopened here. Jysk are still very much committed to our expansion strategy in Ireland and plan to have 20 stores across the country by the end of 2021, with roughly 200 new jobs being created."
A spokesman for Cosgrave Property Group said: "We are delighted to welcome Jysk to Gulliver's Retail Park. With over 2,500 outlets across the globe, they are a strong brand and will be a fantastic addition to the scheme. It is a great endorsement that Gulliver's was Jysk's first choice for a location in Dublin. They will further improve the strong tenant line-up, which now includes Lidl, Mr Price, Homebase and McDonald's. Having recently secured planning permission for an additional 330 residential units on the adjoining site at Blackwood Square in April, it is important to the group to support the existing and future residents of Northwood with a greater local shopping experience."
A spokesperson for joint letting agents Savills and Cushman & Wakefield, added: “This is a significant move from an international retailer with aggressive expansion plans in Ireland. It shows that the industry has the potential to bounce back, quickly and strongly, amid the current pandemic. Savills and Cushman & Wakefield are excited by this deal and the confidence it shows in the Irish retail market.”
