Hilfiger at the helm of local operations
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Oluşturulma Tarihi: Mayıs 28, 2009 00:00
ISTANBUL - Tommy Hilfiger, a leading U.S.-based ready-wear brand, has decided to undertake the management of all its operations in Turkey. The firm has acquired the control of retail and wholesale distribution rights from Turkish retailing group Unitim Holding, and plans to open a giant store besides its existing 33 stores.
The acquisition decision has stemmed from not the crisis but from the change in the firm’s Turkey strategy, Ludo Onnink, chief financial officer and the chief operating officer of Tommy Hilfiger Group, said during a press conference held in Istanbul Tuesday.
The acquisition overlaps with the firm’s global strategy to have a coordinated approach toward the market by consolidating the management of the brand, Onnink said.
Unitim, which has kept the production and sales rights of the brand since 1998, will have a minority share at the recently-established Tommy Hilfiger Marka Dağıtım ve Ticaret AŞ. "Before 1998, Unitim lacked retail experience, but had been very good in production and attached high importance to the fight against counterfeit. They did great after we gave the business to them," said Onnink.
Noting that the firm has 33 stores and many sales points nationwide, he said, "We very much believe in the Turkish market. Brazil, Russia, India and China are listed among emerging markets, but Turkey is missed in the list. In terms of both its growth rate and young population, Turkey will be among the largest markets of the upcoming 10 years."
With Unitim, Tommy reaped nearly 30 million euros in turnover last year, he noted. "We do not have any bigger expectations amid the crisis climate. However, we would like to open more stores in the future. At the initial stage, we intend to open a very large store that can be deemed as a flagship. We are seeking a location."
Unitim Holding, with core businesses in apparel manufacture, export, retail and tourism-restaurant operations, came to the fore with the handover of British luxurious stores chain Harvey Nichols to Demsa Group a while ago. Unitim was founded in 1997, and in the same year, Tommy Hilfiger chose it as its Turkish partner. Having structured Tommy Hilfiger's sales network in Turkey, Unitim assumed a leading role in the sector.
The deal with Tomy Hilfiger is not related with the crisis, said Unitim Holding Chairman Burç Cemiloğlu. Tommy Hilfiger, which Unitim has been representing since 1998, has been making offers to acquire the Turkey operation since 2007, said Cemiloğlu. "We will continue managing retail and wholesale operations of Tommy in Russia, Ukraine, Moldova, Kazakhstan and Azerbaijan."
Unitim Retail Group manages retail operations of 11 global brands in the countries like Russia, Kazakhstan, Turkmenistan and Romania, he said. Having reaped 202 million Turkish Liras in turnover last year, the group aims to attain 267 million liras this year, and open nine new stores.
The acquisition overlaps with the firm’s global strategy to have a coordinated approach toward the market by consolidating the management of the brand, Onnink said.
Unitim, which has kept the production and sales rights of the brand since 1998, will have a minority share at the recently-established Tommy Hilfiger Marka Dağıtım ve Ticaret AŞ. "Before 1998, Unitim lacked retail experience, but had been very good in production and attached high importance to the fight against counterfeit. They did great after we gave the business to them," said Onnink.
Noting that the firm has 33 stores and many sales points nationwide, he said, "We very much believe in the Turkish market. Brazil, Russia, India and China are listed among emerging markets, but Turkey is missed in the list. In terms of both its growth rate and young population, Turkey will be among the largest markets of the upcoming 10 years."
With Unitim, Tommy reaped nearly 30 million euros in turnover last year, he noted. "We do not have any bigger expectations amid the crisis climate. However, we would like to open more stores in the future. At the initial stage, we intend to open a very large store that can be deemed as a flagship. We are seeking a location."
Unitim Holding, with core businesses in apparel manufacture, export, retail and tourism-restaurant operations, came to the fore with the handover of British luxurious stores chain Harvey Nichols to Demsa Group a while ago. Unitim was founded in 1997, and in the same year, Tommy Hilfiger chose it as its Turkish partner. Having structured Tommy Hilfiger's sales network in Turkey, Unitim assumed a leading role in the sector.
The deal with Tomy Hilfiger is not related with the crisis, said Unitim Holding Chairman Burç Cemiloğlu. Tommy Hilfiger, which Unitim has been representing since 1998, has been making offers to acquire the Turkey operation since 2007, said Cemiloğlu. "We will continue managing retail and wholesale operations of Tommy in Russia, Ukraine, Moldova, Kazakhstan and Azerbaijan."
Unitim Retail Group manages retail operations of 11 global brands in the countries like Russia, Kazakhstan, Turkmenistan and Romania, he said. Having reaped 202 million Turkish Liras in turnover last year, the group aims to attain 267 million liras this year, and open nine new stores.