GeneralInvestmentInvestment in Turkey

400 stores in 5 years from Malaysian ‘giant’

Malaysian MR, a chain of stores in the field of home decoration. D.I.Y. He announced that he will open 400 stores in 5 years and will invest 40 million dollars every year in Turkey. Malaysian MR, which is a chain of home decoration stores and opened its first store on November 18. D.I.Y. aims to reach 400 stores in 5 years in Turkey with an annual investment of 40 million dollars.

MR. D.I.Y. Turkey Country Manager Dilara Neyişçi Çağlı stated that they opened their first store in Istanbul Meydan AVM and said, “Shopping malls such as Metrogarden, Torium and Marmara Forum are next. We will have regular openings every week. We will open five stores by the beginning of the year. We will have opened 24 stores by May. We will grow in Istanbul until 2023, then we will expand to other cities. We will be in all 81 provinces. We think it’s needed everywhere. We will be in shopping malls in the first place, then we will open to the streets. The number of our stores in Turkey will reach 400 in five years,” he said.

Explaining that the Malaysian group will invest 40 million dollars in Turkey every year, Çağlı said, “We are a country where the group sees a lot of potential. It was decided to enter Turkey in January this year and the first store was opened before the end of a year. They did not enter any country so quickly. Turkey is the focus of attention for the group in terms of its young population and potential. From here, there are plans to expand to neighboring countries and Europe. The first destination in Europe is Spain. The company is present in 8 countries, including Malaysia. Turkey is the ninth market. The number of countries will also increase,” he said.

Noting that the first stores in Turkey were 500 square meters, and the store sizes in general would be between 500 and 1200 square meters, Çağlı said:

“M.R. D.I.Y provides services with 18 thousand products with the slogan “always the cheapest”. We do not see ourselves as competitors to chains such as the DIY market sector and hardware. We are in the home beautification industry. We have different categories. We have categories such as stationery, home accessories, pet accessories, sports equipment, jewelry, automobile accessories. There is no one in our category. Our product prices start from 3 TL and go up to 600 TL. We will buy 30 percent of the products from the domestic market, 70 percent of them will come from abroad. But the rate of domestic products will gradually increase. In fact, manufacturers here, third parties other MR. We will also give the D.I.Y countries the chance to export.”

Employment of 3,000 people

Çağlı said, “We are 24 people at the headquarters. We will employ 15 people per store. In the projection for the next five years, we aim to have 300 employees in the headquarters and 3,000 people in the stores.”

‘The exchange rate does not affect us’

Çağlı also commented on the increasing exchange rates:

“We already anticipated this increase. We are not in a panic mood, the hike was never on our agenda. We will maintain the price level and build the trust between us and the customer. Our wish is for our customers to know and love us. The financial strength of the company is strong. We make large-based purchases and are not bothered by price increases. We also foresee that this increase will be temporary, we believe that Turkey will come out of this process”.

Mehmet Sarıusta

Hello, I'm Mehmet, I write content for Expat Guide Turkey every day. Don't forget to check it out!

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