PRIMARK CONSIDERS PENETRATING THE TURKISH MARKET

The Ireland-based multinational fast-fashion retailer Primark is conducting research for penetration into the Turkish market. The company, which is known for cheap prices, sent a team to the country in recent days. The team held talks with investors in the leading shopping malls in Istanbul, examined important shopping streets in the city, such as Bagdat Avenue, and visited other large cities in the country. Primark is considering entering the country without Turkish partners, according to managers of the shopping malls that held talks with the Primark team. Managers also said that the company hasn’t specified the exact date it hopes to enter the country due to customs legislation and uncertainty in foreign exchange rates. Founded by Arthur Ryan in 1969 in Dublin, Primark has a product portfolio consisting of women’s apparel, men’s apparel, accessories, cosmetics, and houseware products. The company, which operates over 400 stores in Europe and the U.S. with 65,000 employees, aims to reach 530 stores by 2026. NECLA DALAN