BY KERIM ULKER
The Malaysia-based home improvement retailer Mr. DIY has entered the Turkish market, which the company considers a step on its way to the European market. Mr. DIY has officially launched its first store in Europe in Istanbul, according to a tweet by the Turkish Embassy in Kuala Lumpur.
Mr. DIY, whose average store size is more than 10,000 square meters, aims to open 40 to 50 stores in Turkey by the end of 2022. If the stores are launched as planned, the company will be the first Asian corporation to set up superstores in Turkey (more than 10,000-square meters) and will compete against domestic and European rivals.
Mr. DIY Group, founded by brothers Tan Yu Yeh and Tan Yu Wei in 2005, operates 819 stores in nine countries, including Turkey. The home goods company, which sells nearly 20,000 different products, from decoration to electronic appliances, is one of the largest brands in the home improvement sector in Southeast Asia. Annual revenue of the company exceeds USD 1bn.