Gratis cosmetics chain enters market
Güncelleme Tarihi:
Hurriyet Daily News
Oluşturulma Tarihi: Haziran 11, 2009 00:00
ISTANBUL - Sedes Holding is launching Gratis, a new chain of cosmetics and personal care item stores in Turkey, the conglomerate announced yesterday. The first two stores of the $100 million chain will open later this month in Istanbul’s Metrocity shopping center on the European side of the city and Bağdat Street on the Anatolian side.
Gratis General Manager Mustafa Altındağ said Sedes Holding aims for Gratis to become one of the leading cosmetics store chains in Turkey with a market share of 10 percent.
"In planning for Gratis we used the German cosmetics and personal care market as our benchmark. The German cosmetics market stands at some 13.5 billion euros, whereas in Turkey it is only 2.5 billion euros. There are some 20,000 cosmetics stores in Germany while in Turkey the number is less than 200. We have a long road ahead," Altındağ said.
20 new stores in 2009
The Gratis product range will include 4,000 cosmetics and other everyday personal care items. The products will be both Turkish and imported, as well as Gratis' own private label.
"With a successful case, we may consider expanding the network outside Turkey," Demir Sabancı, chairman of Sedes Holding said.
Young population
Turkey’s young and growing population results in about 700,000 new consumers each year, Altındağ said. "We plan to open 20 stores by the end of the year and 500 stores in the coming five years," he said.
The stores will first be opened in Istanbul and the Marmara region, after which the chain will expand to İzmir and Ankara.
Despite recent turbulence in global markets, sales of some personal care items in Turkey have increased, Altındağ said. "At times like this, people tend to look after themselves more. For example, the consumption of hair color and ladies socks has grown by 15 percent during the crisis. We are expecting further growth, by at least 8 to 9 percent. The cosmetics market in Turkey can reach 5 billion euros in the next five years," he added.
"In planning for Gratis we used the German cosmetics and personal care market as our benchmark. The German cosmetics market stands at some 13.5 billion euros, whereas in Turkey it is only 2.5 billion euros. There are some 20,000 cosmetics stores in Germany while in Turkey the number is less than 200. We have a long road ahead," Altındağ said.
20 new stores in 2009
The Gratis product range will include 4,000 cosmetics and other everyday personal care items. The products will be both Turkish and imported, as well as Gratis' own private label.
"With a successful case, we may consider expanding the network outside Turkey," Demir Sabancı, chairman of Sedes Holding said.
Young population
Turkey’s young and growing population results in about 700,000 new consumers each year, Altındağ said. "We plan to open 20 stores by the end of the year and 500 stores in the coming five years," he said.
The stores will first be opened in Istanbul and the Marmara region, after which the chain will expand to İzmir and Ankara.
Despite recent turbulence in global markets, sales of some personal care items in Turkey have increased, Altındağ said. "At times like this, people tend to look after themselves more. For example, the consumption of hair color and ladies socks has grown by 15 percent during the crisis. We are expecting further growth, by at least 8 to 9 percent. The cosmetics market in Turkey can reach 5 billion euros in the next five years," he added.