Turkish Boydak suspends activities in Ukraine

Turkish Boydak suspends activities in Ukraine

Turkish Boydak Holding chief Mehduh Boydak said the group has suspended its activities in Ukraine, but signaled a return to Ukraine after the country’s atmosphere normalizes.

“We have suspended our operations in our plant in Ukraine due to the political and economic problems there, yet we strongly believe in the Ukrainian market with a population of 50 million. One day everything will again be normalized in such countries,” he said at a press meeting on Jan. 29. The company invested around 12 million euros in the Ukraine plant, which employed 160 people.

Boydak said the group has maintained its leading position in the Turkish furniture sector with their brands: İstikbal, Bellona and Mondi.

“We have activities in 5,000 points of sale and over 300 stores across the world. We exported to over 140 countries for $150 million last year. In 2014, we opened 107 new stores in Turkey and 37 abroad. And we made around 3.5 billion Turkish Liras [$1.44 billion] in revenue in 2014, reaching our growth target over 10 percent,” he said.

The group plans to open 46 new stores abroad and 107 in Turkey, he said.