Boydak Holding Furniture Group, which has been increasing its investment in the Middle East, opened a new store in Aleppo, Syria on October 3rd, 2010. İstikbal brand is the sole exporter of 25% of all of Turkey’s finished home furniture overseas. Istikbal has become one of the world’s five largest furniture producers with investments overseas and nationwide.
As the leader of the Turkish furniture sector, Istikbal continues to expand abroad with new investments. Istikbal has 244 shops in Europe, Middle East, North Africa and Middle Asia.
With new investments and fast growth strategy, İstikbal has achieved a prominent position in the furniture sector. İstikbal aims to reach 300 shops overseas with 10 million Euro investments in merchandising.
Towards reaching this goal, Istikbal has opened a new store in Aleppo, Syria. The sector leader Istikbal aims to reach 140 million Euros sales revenue abroad. Boydak Holding’s total export target is 430 million Euros for 2010.
We want to reach 30% of our total revenues from exports
Vice President of Boydak Holding Mustafa Boydak, in a general evaluation of Istikbal stated that the brand is the leading manufacturing and exporting company for finished home furniture from Turkey. Our aim is to attain 30% of our total revenues from exports over the next 5 years. Mustafa Boydak expressed that Boydak Holding carries out 25% of all finished home furniture exports from Turkey and added that the total world’s export rate had reached 116 billion USD in 2009. Turkey’s export volume was 1,125 Billion USD including semi-finished and finished products. As Boydak furniture group our export target for 2010 is to reach 140 million USD for finished home furniture he said.
We intend to deepen our current structures
Mustafa Boydak noted that İstikbal has 244 shops in 44 countries and İstikbal exports to over 100 countries. As İstikbal, our priority is to in-depth expansion in the countries where we have presence. The brand is directing investment in Middle East Countries so that there is presence in each country as well as growth in the countries where we have already established store structures. Mustafa Boydak pointed out that Istikbal stores employ nearly 2,500 employees in sales and technical service capacities, and that the brand will soon become the best known brand name in neighboring countries.
Boydak Furniture grew 5% while world’s furniture sector contracted 10% in 2009
Vice President of Boydak Holding Mustafa Boydak stated that the key to success in the furniture sector lies in presenting the right design and providing the right service strategy. He added that the world’s furniture sector contracted 10% in 2010 while the Turkish furniture sector contracted 5%. All the while, during these adverse global and national conditions, Boydak Holding’s Furniture Group succeeded to grow 5% mostly by applying the right marketing strategy. He emphasized while the share of export rate of Turkey to Middle East Countries is around 13,4%, the export rate of Boydak Furniture Group to these countries is nearly three times more with 38,6%. This is a remarkable growth when reminded of the fact that at the beginning of 2000 the export rate to these countries was merely 5%. These facts speak for themselves to prove our emphasis on growth and expansion in Middle East Countries. In this context, the second Istikbal store in Syria is another milestone in our service and commitment to the consumers of the region.
The biggest furniture store in Aleppo is İstikbal
The new İstikbal store in Aleppo is the biggest furniture shop in the city with 2,750 M² sales floor space located on the highway between Damascus and Aleppo. The new shop is 5 KM far away from the city centre. The main reason to open the second İstikbal shop in Aleppo is the fact that Aleppo is at the junction of many cities, a transition point with an impressive 5 million population.
Mustafa Boydak closed his speech with final thoughts, “We think that this investment will lead to further positive developments between the two countries. We are very proud of having the opportunity to serve the consumers of this city, and will be on the lookout for further expansion opportunities for the Istikbal brand in the region.”