Among the major trends analysts have identified over the last years is the fact that an increasing number of global investors have set their sights on seizing the opportunities emerging from the booming Turkish market. According to the World Bank data, Turkey’s GDP grew by a prospering 2.9% in 2014, making it an increasingly attractive destination for international capital flows. Seemingly, Turkish retailers are reaping the benefits of this flourishing situation as the size of Turkey’s retail sector is estimated to have reached a whopping $303 bn in 2013, according to Deloitte. This is a trend that is unlikely to reverse since the market is expected to grow further by an approximate 7% by 2018.
Straddling Europe and Asia through the Bosphorus, Turkey’s history is interwoven with that of commerce and retailing. Houseware retailer Karaca is undoubtedly one of those successful Turkish merchants of modern times. Founded in 1973, the brand leads the houseware, tableware and kitchenware retail business in Turkey and in the surrounding area through sub-brands Emsan, Cook Plus, Karaca Home and Jumbo. Karaca owns 110 domestic stores and works with 58 franchise operators. On top of that, Karaca’s products are available in 1,200 points of sale including department stores and wholesale outlets. They currently have totally 28 retail stores in 20 different countries.
Karaca’s market scope goes well beyond Turkey. The brand is established in Europe with 11 stores within the EU including notably Germany, France and the Netherlands. “We also have 3 new stores in the pipeline, to be opened in Q3 of 2015“, Karaca’s İlkay Akal told MAPIC. The Turkish houseware retailer is also settled across Asia (Azerbaijan, Cyprus and Georgia, to name but a few), Africa (Morocco, Libya) and the Middle-East (Lebanon, Iran, Iraq).
Karaca prides itself in being shortlisted in various industry competitions, including the World Retail Awards and the Global RLI Awards. As the Turkish home retailing market is forecasted to reach $60 bn by 2018 (i.e. a vigorous 6% growth rate) according to Deloitte, one can safely assume Karaca has a rosy future ahead.
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Top image credit: Masson