Danish furniture retailer Jysk has announced the closure of all its stores in Thailand after nearly six years of operation. The decision was made by Boonthavorn Group, Jysk's franchisee in Thailand, citing difficulties in regaining customers after the Covid-19 pandemic. Åse Andersson, Jysk's Communications Director, confirmed the news, explaining that despite initial high expectations, the pandemic's impact hindered the business's recovery.
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When Jysk first entered the Thai market in 2018, Boonthavorn Group CEO Sitthisak Tayanuwat had ambitious plans to open at least 30 stores within five years. The first store opened on December 10, 2018, in Ratchapruk, Bangkok. Jysk, founded in 1979, has grown internationally, but its Thai operations struggled to maintain a sustainable customer base post-pandemic.
Source: www.scandasia.com