In the previous post we gave information about the Turquality program. Let’s look at the detailed information about the beneficiaries of this program and the Turkish firms that have opened stores abroad.
- LC Waikiki has recently become one of the most popular brands for Arab tourists. Rapidly increasing the number of stores in Turkey, LC Waikikialso continues to grow rapidly abroad. Waikiki said that there are 346 stores abroad, “Countries we are located in are Armenia, Georgia, Russia, Albania, Bosnia and Herzigova, Bulgaria, Azerbaijan, UAE, Bahrain, Belarus, Algeria, China, Indonesia, Morocco, Iraq, Iran, Qatar, Kazakhistan, Kenya, Kırghızistan, North Cyprus, Kosovo, Libya, Lebanon, Macedonia, Egypt, Moldovo, Poland, Romania, Saudi Arabia, Serbia, Tajikistan, Tunisia, Ukraine, Amman and Jordan”.In 2018 they plan to open a total of 139 stores, 25 in Turkey and 114 abroad.”We will enter China and Malaysia this year, and we intend to grow in Asia, the Middle East and Africa in the coming period, and we will continue investing in existing countries as well”, officials said. Turnover ratio of LC Waikiki’s overseas stores is about half of the turnover of stores in Turkey. This equals 1/3 of the total.
- Penti aims to deeper invest in current markets. Having 130 stores in 35 countries abroad, Penti Retail Group President Mert Karaibrahimoğlu said that they will reach 185 stores in total by the end of 2018, and continued, “In spite of our rapid growth strategy abroad, long and short term research is being conducted especially on competitor analysis and consumer needs before deciding which markets to enter.We aim to enter new markets in Eastern Europe and the Gulf Region next year and to deepen in existing markets we are in. Penti is one of the first companies in the sector to benefit from the Turquality program. We are using the incentives got from Turquality both in brand and growth investments in the countries”.
- İnci Deri has been in the market with more than 100 stores in Turkey for years, the chairman of İnci Deri, Ali Murat Kızıltaş said ” Our branded export target gained momentum when we were included in the Turquality Program. Today we have 5 stores abroad.We aim to add Romania, Egypt and Iran stores to the countries we already located like North Cyprus, Kosovo and Turkmenistan by the end of the year. We foresee chain store operations in all of these countries”.
- In 2016 Koton opened 45 stores abroad and aims to open 36 stores abroad this year. 25 percent of the total sales of the brand, which has reached 190 stores abroad, comes from this item.Chairman of Koton Yilmaz Yilmaz, said: ” Koton will increase the number of countries from 26 to 29 in 2023 and we will reach an export level of 500-700 million dollars.This year, we will open more stores abroad”.
As you see, Turkish brands are getting worldwide and reaching high level of incomes in the recent years. The shopping passion of Arab tourists really helped Turkey to recover fast and even growing abroad.
Conexio Consulting can support you in your investments, ideas and projects in Turkey.