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Denmark's JYSK in Vietnam

Released at: 09:30, 27/10/2015

Denmark's JYSK in Vietnam

Furniture giant to open two stores in Hanoi shortly then head to HCMC.

by Minh Tuyet

Global furniture brand JYSK from Denmark has arrived in Vietnam under a franchise agreement with the NeatClean JSC. The first store will open on October 28 at Aeon Mall in Long Bien district in Hanoi and the second and largest store on November 27 at Mandarin Garden in Cau Giay district.

NeatClean’s business strategy targets middle-class customers, providing furniture services such as consulting and design and interior décor for houses and apartments at as low a cost as possible. After entering Hanoi the company will turn its attention to Ho Chi Minh City.

Vietnam is a market of some potential, with a young population. Chairman of the Board at NeatClean JSC, Mr. Doan Hong Hai, is positive about the future of their new business venture with JYSK. “There is expected to be an enormous rise in the middle-class consumer segment and spending, which also means consumers have higher demand in improving their quality of life,” he said.

He added that Vietnam was ranked 28th among countries in the Global Retail Development Index in 2014. “We are aiming at opening from 10 to 20 stores in the country over the next five years,” he said.

The Embassy of Denmark in Vietnam sees the partnership between JYSK and NeatClean as a positive example of commercial activities between the two countries, according to the Head of the Commercial Section at the Embassy, Mr. Bo Monsted. “I believe the cooperation between JYSK - a global furniture brand recognized with the Danish Royal Court’s trust mark, and NeatClean JSC - a modern, active, and creative Vietnamese company, will flourish,” he said.

JYSK sells a wide range of products, such as mattresses, furniture and interior décor, and was established in 1979 by Mr. Lars Larsen, who is the third-richest person in Denmark. He has given a lot of inspiration to his fellow Danes, starting with little money but many ideas and becoming a billionaire.

NeatClean JSC was founded in April 2015 by Mr. Nguyen Quoc Vinh and Mr. Doan Hong Hai, who also founded Canifa, the famous Vietnamese fashion brand. Both have over 20 years experience in the retail market.

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