BY LEYLA ILHAN
Doganlar Holding, which includes furniture brands such as Dogtaş, Kelebek and Lova Yatak, as well as companies in energy and construction, will make USD 200m investment within a year. Davut Dogan, Chairman of Doganlar Holding, announced that they will invest USD 160m in the energy, USD 10m for the furniture factory they will establish in Senagal, and the rest for new Dogtaş and Kelebek stores within a year.
Third biggest in the furniture sector, the company grew by 65% last year, he said, adding that they expect 75% growth this year. Dogan also stated that they laid the foundation of the furniture factory they will establish in Senegal. “We established our company under the name D Afrika and entered this market with the BigA brand. The construction of the factory will be completed in November,” he added. A store will also be opened in Senegal for Dogtas brand.
The furniture delivery durations, which went up to three months in the sector for a period, have now come to normal levels and decreased to six weeks, Dogan noted. “With the increase in demand in June, when the normalization started, our delivery times increased to three months. With the investments made, this period has now been reduced to six weeks,” he said, adding that the crisis in foam rubber and chipboard supply has also been overcome. The holding expects TRY 3bn turnover this year, TRY 1.7bn of which will come from furniture. The share of furniture in the turnover is 60%.
No plan to buy Erciyes Holding
Dogan said that they don’T have plans to acquire Erciyes Holding, which hosts brands such as Bellona, Istikbal and Mondi, managed by Saving Deposit Insurance Fund (TMSF), if it goes up for sale. “We had plans to buy Erciyes Holding in the past however, as we are now investing in Cyprus, African countries and new areas, we changed our mind,” Dogan said.