One of the leading brands of the fast-moving consumer goods (FMCG) sector, Nestle has decided to expand in Turkey. The company, which currently has two factories located in the country, has earmarked $100 million for new investments. Nestle Turkey Chairman and CEO Felix Allemann said their plans include capacity expansion and new plant investments.
"Turkey has become our fastest-growing market in EMENA (Europe, the Middle East and North Africa) representing emerging markets. Our headquarters has full confidence in Turkey and supports new investments," Allemann said.
Swiss food giant Nestle achieved a turnover of $750 million from last year's activities in Turkey with a growth rate of 17 percent, which corresponds to a figure above the sector average, Allemann said, adding that they invested a total of $160 million in Turkey between 2012 and 2017.
Making a significant portion of their sales to the domestic market, Nestle Turkey achieved $40 million in exports last year. Allemann said Turkey has a significant position in Nestle exports. "We exported some of the products we produced here to markets such as China, Russia and the U.S. Our exports will continue to increase," he noted.
Referring to the collaboration between Starbucks and Nestle, Allemann said with this deal, they got the right to sell Starbucks' strategic products outside their stores.
"With this agreement, one plus one will equal three," he concluded.
Nestle entered the Turkish market in 1875 with baby formula and opened the first office in Istanbul's Karaköy neighborhood in 1909.
