Innovation: only path out in Turkey
Posted by meb at February 19th, 2009
Many companies are holding on to innovation to survive the crisis and enlarge their market share. Süvari, a Turkish men’s wear brand, is among those turning to innovation. The firm has so far had 15 percent growth in its turnover
Süvari, a Turkish men’s wear brand is getting ready to put its signature on a new innovation in the clothing industry.
The company, which previously produced a special kind of a shirt that was suitable for people who had physical irregularities, now is getting ready to launch the sale of a new innovative product, which is a classic trouser that can stretch on its own.
Via its innovative products, Süvari has managed to increase its sales by 50 percent and its turnover by 15 percent, while many other firms are in bottleneck due to the global crisis, said Süvari Chairman Ahmet Coşkun.
The trousers produced for “gourmand” men, can stretch up to two sizes with a special elastic band placed around the waist. Süvari, which has applied for the patent of the product, plans to introduce the product into market with a price difference of 10 to 15 percent compared to regular trousers as of July. The firm had previously introduced shirts whose collars could stand straight without tie and shirts that were suitable for people who had physical irregularities.
“We realized the importance of innovation in growth two years ago,” said Coşkun, who is the chairman of Adana-based Coşkun Tekstil, which includes the Süvari brand. “While everyone has been inclined toward savings amid the crisis, we have introduced more advertising with our innovative products.”
Süvari also continued campaigns and opened new stores, he said. “According to the data compiled from shopping centers, we rank among top-selling five men’s wear brands amid the crisis although we were not even one of the top 10 brands prior to the crisis.”
Süvari will continue on its path with innovative products, he said. “Following the classical trousers that can expand on their own, our innovation will continue in jackets, belts and shirts as of 2010.”
Regional expansion
There are stores in Turkmenistan, Kazakhstan, Russia, Azerbaijan, Yemen and Switzerland, said Coşkun Tekstil Managing Director Fatih Coşkun. The firm has recognition by 80 percent in Turkmenistan, where it has six stores.
Noting that the crisis is felt particularly in Russia and the European Union, Coşkun said, “The countries with closed economies, such as Yemen and Turkmenistan, do not feel the crisis that is felt gravely in countries like Russia and Switzerland. Most foreign brands have seen a 50 percent decline in turnover. In such countries, Süvari’s turnover has deteriorated around 30 percent.”
The firm has 35 contract plants that make the production in Istanbul, Adana and Eskişehir and provide job opportunities for 1,500 people, Coşkun said.
The crisis is not likely to last more than six months, he said. “No crisis can last forever. We believe the demand will boom in the sector after six months. Therefore, the firms that have the chance should search for contract plants that are in distress amid the crisis. Otherwise, it may be difficult to find a plant after the crisis.”
source: Hurriyet daily news