Economy, Domestic Economy
0

Turkish Retailers Mushrooming in Iran

Turkish Retailers Mushrooming in IranTurkish Retailers Mushrooming in Iran

With the lifting of the long-lasting global economic sanctions on Tehran, Turkish ready-to-wear retailers are among the first to launch a lucrative stream of foreign investments in Iran. Leading Turkish apparel brand D’S Damat announced it had opened a new store in Tehran just three days after the world was informed about the dropping of the sanctions.  Another retailer, Mudo, has also said it is considering commencing operations this year, Today’s Zaman reported. The United Brands Association–the Istanbul-based umbrella organization for over 500 renowned Turkish brands, most of which are retailers–has put the sector target at 865 stores to be opened within the next three years. “Twenty-nine of our brands already have 135 stores in Iran. As the embargoes are being lifted, 20 more brands are now able to open 500 stores in total. With the new stores that will be set up by Turkish companies in Iran, the total number could rise to 1,000 after three years,” the BMD told the media last week.

Financialtribune.com