All Turkey articles – Page 2
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News
Tensions continue between Carrefour and Turkish partner Sabanci Holdings
Tensions continue between French retailer Carrefour and its Turkish partner Sabanci Holdings over their joint venture.There is an ongoing argument over the valuation of the partnership’s property. Valuing the store network is a challenge, given the prime locations of some outlets, especially in Istanbul.The newspaper Ekonomik Ayrinti estimates the estate’s ...
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AnalysisInternational analysis: Jerónimo Martins to invest in Polish market
Portuguese-based retailer Jerónimo Martins is to invest €2.5bn (£2.03bn) over the next three years, with 70% directed into Polish discount chain Biedronka.
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News
Walmart reportedly in talks with Migros Ticaret
Walmart is reportedly interested in entering Turkey through a majority stake in leading retailer Migros Ticaret.Walmart has not submitted a formal bid, but has reportedly held meetings with the private equity-backed retailer in recent days. A deal would value the business at more than $4bn (£2.47bn), including debt.Migros Ticaret has ...
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News
Galeries Lafayette to open first store in Istanbul
French department store group Galeries Lafayette has signed an agreement with Turkish group Demsa to open its first store in Istanbul.The shop is to be located in the city’s Boulevardi Mall and is scheduled to open in the first half of 2015.Demsa operates 110 stores in Turkey and also has ...
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News
Migros Ticaret reports sales increase
Grocer Migros Ticaret has reported sales of TRL1.83bn (£639m) for the three-month period ending September 30, a 13.1% increase on the same period last year. Gross profit rose by 15.2% to TRL468m (£163m).Sales benefited from store openings, as well as a focus on the private label category and fresh products.
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AnalysisAnalysis: International markets
Despite global economic problems, there are still opportunities for retailers to expand internationally. Rebecca Thomson reports on three markets that look likely to bear fruit.
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OpinionComment: Choosing the right market for cross-border trade
The world is flattening and borders are blurring, opening up a wealth of new opportunity for UK retailers.
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News
Carrefour’s joint venture with Sabanci Holding under pressure
Carrefour’s joint venture in Turkey with Sabanci Holding is under pressure, following the sudden resignation of four members of the board of directors.According to Turkey’s Hürriyet newspaper, Chairman Haluk Dinçer – in place since 2004 – as well as three other members have resigned as of July 16. The gesture ...
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News
Rewe acquires stores from Enka
German retailer Rewe has won approval from the Russian competition authorities to acquire 12 Citistores from Turkish group Enka. The shops, in the greater metropolitan area of Moscow, will be converted to the Billa supermarket format in the coming months. Rewe also plans to open around 10 new Billa stores ...
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News
Hard discounter BIM to enter Egypt
Hard discounter BIM says it will enter Egypt in the first half of 2013. Investments are planned to reach TRY25m (£8.7m) by 2014, according to Today’s Zaman. Algeria would also be of interest, the retailer said.During 2011, BIM’s net sales for the full year climbed 24.6% to TRY8.19bn (£ 2.8bn) ...
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NewsGeorge at Asda acquires Turkish clothes sourcing arm
George at Asda has acquired the sourcing division of Turkish clothing supplier GAAT.
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News
Ikea to pursue growth avenues
Home furnishings retailer Ikea Turkey’s general manager Fuat Atalay has told local press that the group will pursue several avenues of growth over the next five years. Its strategy includes the opening of three new stores, the launch of a transactional ecommerce site for the whole country and better targeting ...
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NewsTesco enters F&F partnership in Saudi Arabia
Tesco has created a new franchise model to enter Saudi Arabia as it looks to turn its F&F fashion label into a major global brand.
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News
Migros Ticaret reports net sales increase
Grocer Migros Ticaret has reported net sales of TRL4.25bn (£1.8bn) for the first nine months of 2011, up 10.5% on same period last year. After the sale of discount banner Sok to Turkey-based retailer Bizim in August, Migros has continued to successfully implement its new store opening strategy, which is ...
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News
BIM reports net profit increase
Turkish hard discounter BIM has reported that net profit in the third quarter of 2011 climbed 21.7% to TRL78m (£27.4m) compared with the same period last year.Preliminary sales at continuing operations grew 25.6% to reach TRL2.16bn (£758.2m) while operating profit rose 19.9% to TRL93.8m (£32.9m). As of November 2011, BIM ...
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News
AS Watson plans store growth
Hong Kong-based AS Watson plans to add 30 Watsons stores to its network in Turkey during 2012, taking the total to over 100.The health and beauty retailer has built its presence to 68 stores since entering the market in March 2005. Country general manager Ahmet Yanikoglu said: “This year we ...
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AnalysisKingfisher’s Turkish adventure
It might not attract as much attention as some overseas markets, but Turkey is one of Kingfisher’s big hopes for the next decade. Rebecca Thomson reports on its plans there.
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News
Metro Group plans new store openings
German retailer Metro Group says it plans to benefit from the sustained economic boom in Turkey with the opening of 24 new Metro Cash & Carry, Real, Media Markt and Saturn stores by the end of 2012. Speaking in Istanbul, Metro Cash & Carry and Real Group chief executive Joël ...
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NewsCheshire: Kingfisher wants 100 stores in Turkey
Kingfisher chief executive Ian Cheshire has said the company plans to open 100 stores in Turkey, saying the country is “one of our big growth opportunities for the future.”
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News
Turkish discount retailer A101 attracts seven bidders
Turkish discount retailer A101 has attracted seven bidders in the first round of an auction to sell off the business. TPG and Permira are among the private equity firms that submitted bids. Credit-Suisse is running the sale process for the business, which has been valued between TRL800m (£271.7m) and TRL1bn ...
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