Turkey no longer favorable for textile production

Turkey is no longer a promising place for textile production, Şahinler Holding Chairman Kemal Şahin said. Şahin said they are investing in Jordan and Egypt in order to increase their market share, adding that he gave up investing in the textile market in Turkey and has reoriented to expanding by investing in free zone operations, real estate, tourism and energy.

“We aim to grow in textiles in world markets,” he said.

The chairman said Şahinler Holding had become a global firm with production facilities and distribution channels in several countries. He said they have continued to grow by adapting to global competition conditions over the last three to four years. “If we had not gone global, we would have shrunk or disappeared,” he said.

Şahin noted that the holding’s annual turnover had exceeded $1.5 billion and that it employs 12,500 workers from 100 countries. He said it was the 16th largest textile firm in the world, supplying textile products all over the world through nearly 300 stores. Being the largest supplier for global brands such as Puma and Zara, Şahin emphasized that most of the world’s top 100 textile brand names were their customers.

Şahin said they would supply high-end brands in Turkey instead of middle and low varieties from now on. He said they were contributing to the Turkish economy via external investment and that they coordinate design and marketing operations from Turkey while sending high-level managers from Turkey to investments abroad. He said he would prefer to make all investments in Turkey but that global conditions had forced him to go abroad.

 

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