Business News in Brief: Everything on the up and up for Danish sushi chain
Recently-released accounts show that the restaurant chain Sticks’n’Sushi is going from strength to strength – this year turnover has increased by 6 percent on last year and is 80 percent higher than five years ago, BT reports.
The chain is also expanding. At present it has 11 restaurants in the Greater Copenhagen area, five around London and one in Berlin.
The co-owner of the chain, Kim Rahbek, intends to continue down this path. “At the moment, we’re using a lot of resources optimising our business platform and getting the new restaurants up and running. That entails significant investment, so of course it will affect profits in the short run, but we see it as an important investment in the future.”
Danish startup helps other startups get funding
The Danish startup Capdeks, whose declared mission is to create an easy-to-use shareholding tool for both companies and investors, has just raised 8.4 million kroner in its quest to become the broker of choice for unlisted shares, reports Nordic Business Insider. Its CEO and co-founder, Christian Gabriel, said: “Late stage startups, usually at an age between three and eight years, are increasingly staying private and not going public. These companies prefer running continuous private funding rounds rather than to go for an IPO.” Gabriel points out that IPOs are seen as having too many strings attached, so staying private is seen as a better option. Capdesk runs an equity management system for several hundred private companies with a total market worth of more than 6.3 billion kroner.
Jysk to open in United Arab Emirates
The Danish bedding and furniture retailer Jysk is poised to move into the Middle East after signing an agreement to open a shop in Dubai’s Cityland Mall. Expected to open in 2018, the mall will feature over 350 retail outlets, dining options, entertainment and ‘Central Park’ – a 200,000 sq ft botanical garden. According to Jens Nordahl Ravnbol, Jysk’s franchise partner in UAE, the 14,400-sq ft (approx 1,340 sqm) shop will enable UAE consumers to experience Jysk’s product designs in a welcoming atmosphere, it added. Jysk has more than 2,500 shops worldwide in 48 countries.
Danish freight company opens in Cambodia
One of the world’s leading providers of freight forwarding and supply chain management services, the Danish company Damco, opened an office in Phnom Penh on October 5, reports ScandAsia.dk. At the opening ceremony, its area managing director, Marco Civardi, said: “Today’s Cambodian market exhibits one of the strongest economic growths in the region, thanks to its open market policy, hardworking staff, and a stable development of the economy. As global integration of the value chain accelerates, collaboration and communication become more important.” The company has a presence in over 100 countries worldwide and employs more than 11,000 people.
Underwear chain in expansive mood
The Danish lingerie chain Change of Scandinavia is set to invest 200 million kroner in international expansion, reports Børsen. The low-cost franchise chain wants to double its turnover over the next five years and open 200 shops worldwide. “We have become market leaders in Denmark, Finland and Norway. Those markets are fully established, and we have proven that our concept works, [not least] with our new IT-systems. Now we are ready to roll it out,” explained Claus Walther Jensen, the acting CEO of Change of Scandinavia, Change’s mother company. The company was founded in 1995 by Claus Walther Jensen and Gitte Geil and now has 240 corporate and franchised shops in nine countries. It also delivers to shops in four other markets.