8/3/2011

Baumax to open new stores and expand workforce in Turkey

Star – Inspired by Turkey’s financial and political stability, Austrian home products retailer Baumax plans to open new stores so as to gain a larger share in the country’s home furniture and housewares market.

In a meeting with the Turkish press in the Austrian capital, Baumax CEO Martin Essl said that Turkey’s economic and political stability had led them to reconsider their investments in Ukraine and Serbia and to focus on Turkey. “Turkey is an excellent country in which we have had great success over the last year. Seventy-five percent of our products are locally supplied. The supply chain is extremely short. It takes only 3-4 days to procure goods, whereas in Europe it is likely to take months,” the executive said.

Baumax has delayed its entry into other markets in order to increase its presence in Turkey, Essl said, adding that the company plans to open 30 stores in Turkey within the next 10 years, upping its workforce to 3,000 people.
Baumax currently has 3 stores in Turkey’s Kocaeli, Samsun and Izmir provinces, employing some 500 people.

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