Turkey's most popular and widespread simit (Turkish bagel covered in sesames) chain, Simit Sarayı, which turned this local food into a brand in the country and opened to the world with franchises, is in talks with a chain to acquire 85 stores in the U.K., the company's chairman said Friday.
Speaking at the 7th Uludağ Economy Summit, one of the most important business and economics meeting in Turkey, which is organized by Capital and Economist magazines since 2012 and hosts a large number of speakers and business people from Turkey and all around the world, Simit Sarayı Chairman, Abdullah Kavukcu, said his company, which already has 22 stores in London, was in talks with a chain in the U.K about acquiring 85 stores in the country.
Kavukcu also indicated in case they come to an agreement, they will turn all the 85 stores into Simit Sarayı. He also sighted that with the agreement, the number of stores of the Turkish brand would reach 107 in total in London.
The bakery giant is opening stores in the best locations in the world, Kavukcu said, indicating that they were among the top 10 in the world in terms of bakery.
"We have a target of 1,000 stores abroad. We are opening a store in Kenya. In 2019, we will be opening to the Far East," said Kavukcu.
Kavukcu also said that if they do not reach the agreement the chain in London, their year-end target is to reach 40 stores in the city.
The growing bakery giant, which carries out operations in 22 countries worldwide, has ended 2017 by adding new links to its chain and entering new markets, such as Dubai, Serbia, Jordan, Lebanon and Iraq.
The company also aims to open around 150 stores in 2018, 100 abroad and 50 in Turkey. It also eyes to add 2,750 employees to its current number of 11,250.
In the medium term, Simit Sarayı aims to open 930 stores within 3 years.
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