Henkel has initiated consultations with a view to producing three brands the company acquired last year in Turkey, according to Henkel Turkey Chair Hasan Alemdar. He also stated that Henkel wants to utilize Turkey's location as a hub for production.
Henkel purchased Turkey's first shampoo brand Blendax and strengthened its hair care product portfolio before going on to purchase "Pert" in Ukraine and Shamtu in Middle Eastern, which reached a turnover of $100 million. The company has now begun producing these brands in Turkey. "We aim to establish a production hub in Turkey and produce all three of the brands we acquired in Turkey. We have initiated the talks at out headquarters."
2017 will be a better year
Stating that Henkel closed 2016 with a turnover of approximately 420 million Turkish liras ($113 million), Alemdar said, "The cosmetics industry has been growing ceaselessly for the last 15 years. Turkey has a 2 billion Turkish liras personal care and cosmetics market, 50 percent of which is constituted by shampoo. Therefore, we wish to grow our business in shampoo. We plan to increase the market share of Blendax to 10 percent from the currently 5 percent."
As Alemdar states, the company closed 2016 with profits above expectations and although the removal of credit card installments in the cosmetics sector stalled the sectorial growth, they foresee a greater growth in 2017.