Turkish brands are boosting their capabilities in international markets, planning hundreds of openings in 2022.
Turkish brands are increasingly finding opportunities in international markets. After the past year and a half crisis, many retailers are looking to strengthen their presence abroad, showing cautious optimism in expectations for next year.
Key Turkish brands Boyner, Chakra, Damat, Ipekyol, Kığılı, NaraMaxx, Özdilek, Suwen, and Yataş were represented at this year's annual MAPIC international exhibition, which returned to Cannes after a year's break.
Daily Sabah reported that the Istanbul Garment Exporters Association (IHKIB) and Alkaş, the company coordinating Turkey's participation in the event, said about 300 business meetings were held during MAPIC.
"We attach great importance to branding our ready-to-wear companies and increasing exports of branded products. "We are also trying to turn business events into opportunities to promote our brands and new collaborations," commented Mustafa Gultepe, chairman of IHKIB.
According to data for 2020, Turkish manufacturers exported about $17 billion worth of finished apparel, down 3 percent from 2019. Experts expect this figure to rise to $20 billion in 2021 and another 15% in 2022, to more than $23 billion.
Specifically, Ipekyol plans to open 60 stores in 17 countries by the end of 2022. Today, the company has 246 stores under management. In turn, Orka (Damat, Tween, and D'S Damat) expanded its operations in Italy, Spain, and the UAE, opening 26 stores in 17 countries. By the end of 2022, the retailer plans 25 more openings.
Now operating 13 brands outside Turkey, Chakra will open about 50 more stores next year, including 10 in the UAE and eight in Oman and Kuwait. Kiğılı, specializing in men's clothing, will enter the European Union market, Suwen will open in Romania, and NaraMaxx will open four stores in international markets.