Teknosa sales up 29 percent in 2011

ISTANBUL - Anatolia News Agency

Teknosa is active in 72 cities in Turkey, covering an area of 128,000 square meters.

Teknosa, an electronics retail arm of Sabancı Holding, increased its sales last year by 29 percent to 1.7 billion Turkish Liras, according to a company press release yesterday.

“An important goal for 2012 is to take the firm public. The target is to be one of the most valuable and lucrative firms on the Istanbul Stock Exchange,” Haluk Dinçer, Sabancı Holding’s retail and insurance group president and Teknosa’s chairman, said at a press meeting yesterday.

Teknosa further enlarged its net sales area by 26,500 square meters to 128,000.

The retailer spread its sales network to 72 provinces in Turkey and increased the number of stores to 269 by opening 13 new stores in four city centers and seven districts to extend coverage to 93 percent of the country. The market share of Teknosa in consumer electronics was 13 percent while the firm took the lion’s share in electronics retailers market with nearly 43 percent.

The company’s stores attracted more than 85 million visitors last year while also selling more than 14 million products, the press release said.

The 29 percent growth is more than double the 13 percent of growth in 2010, said Teknosa General Manager Mehmet Nane, adding that this was three times more than the average sector growth. 2011 was a high performance year for Teknosa, said Nane, adding that Turkish people spent 5.1 billion euros last year.