JYSK invests EUR60 million to expand its market presence as Portugal's retail sector enters a new phase of growth
Danish home furnishings retailer JYSK is preparing for its largest expansion in the Iberian Peninsula to date, announcing plans to invest EUR60 million over the next four years to open 120 new stores across Portugal and Spain. The investment not only reflects JYSK’s long-term confidence in the Iberian market but also highlights the continued growth of Portugal’s retail sector and its increasing appeal to international brands.
Under the plan, the company will open an average of 30 new stores each year. While Spain will account for the largest share of the expansion, Portugal remains a key priority, with JYSK aiming to increase its store network in the country by around 50%. The expansion will strengthen its nationwide retail presence while bringing new investment and employment opportunities to more communities across Portugal.
The expansion will not be limited to Portugal’s major cities. JYSK said future stores will be located in retail parks, shopping centres, high streets and medium-sized towns, further extending the brand’s reach across the country. This not only gives consumers greater shopping choice but also reflects a broader trend of international retailers recognising the growth potential of Portugal’s secondary cities, rather than focusing solely on Lisbon and Porto.
Beyond expanding its retail network, the investment is also expected to generate positive economic benefits for Portugal. JYSK estimates that the project will create around 1,200 direct jobs across Portugal and Spain over the next four years, with each new store employing approximately 10 people. As new locations open, local logistics, construction, property management and related supply chains are also expected to benefit, providing an additional boost to regional economic activity.
JYSK’s continued investment in Portugal demonstrates that international retailers remain confident in the country’s consumer market and long-term growth prospects. As Portugal’s population grows, tourism continues to perform strongly, and more international residents choose to settle in the country, demand for home furnishings continues to increase, encouraging more global retail brands to expand their local presence. For Portuguese consumers, the new stores will provide greater convenience and improved shopping options, while for the local economy they will bring more jobs, increased business investment and further development of the country’s retail sector.
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