Turkish-Italian textiles giant trusts Turkey with a boost of investment
The Ayaydın-Miroglio company, a joint venture between a leading Turkish textile group and an Italian group, announced plans to increase its investments in Turkey and voiced its confidence in the country’s economy at a meeting on Aug. 24, 2016
High representatives from the group, founded in 2008 by the Ayaydın Group, the creator of such brands as İpekyol, Machka and Twist, in partnership with the global Italian company Miroglio, announced that they would move forward with investments in Turkey at “full steam.”
In a follow-up press release after the meeting, Ayaydın-Miroglio Group Chair Yalçın Ayaydın pointed out that Turkey has always succeeded in “turning crises into opportunities.”
“As a nation, we have sadly experienced many devastating events one after the other in recent months. But we are also a very strong country and with our people’s belief in unity and solidarity, we have managed to overcome the challenges and to turn all those crises into opportunities … It is now time for us to strive more for our country and put in more effort,” Ayaydın said.
Ayaydın-Miroglio Group Vice Chairman Giuseppe Miroglio said the strong trust they have in Turkey’s strong economy prevailed as it did in the past.
“We at the Ayaydın-Miroglio Group are now even more committed to the investment opportunities in Turkey, and we plan to implement these opportunities at full steam in the coming period. Accordingly, we are in discussions with other brands in our sector,” Miroglio said, noting that the Miroglio Group also procures at large scale from Turkey for their other brands, in addition to their existing collaborations.
“We at the Miroglio Group operate in 34 countries across the world through 49 companies and three industrial sites. We are now shifting the majority of our procurement to Turkey for 11 different brands within our group. Turkey is becoming an even more strategic location for us, so we will double our procurement target for 2016 and raise it to EUR 100 million,” he added.
The Ayadin-Miroglio Group was founded when the leading Turkish readymade clothing firm Ayadin joined forces with the Italian fabric giant Miroglio in May 2008. The roots of this partnership began in 1986 in Turkey and back to 1883 in Italy.
Ayadin Group stepped into the readymade retail sector in 1986 with its first brand Ipekyol and rapidly attained a prominent position in the market. The brands Twist and Machka were subsequently created in 1997 and 2004 and the Ayadin Group continued to become an efficient player in both the domestic and global markets. This journey that covered a quarter of a century has transformed the company into a real success story.
Active since 1883, the Miroglio Group has gone beyond the boundaries of the Italian market to become one of the leading and most influential companies in the global textile and clothing industry, exhibiting consistent growth performance since its establishment, particularly in branding and retail marketing. Today Miroglio, with its turnover of over one billion Euro, takes its place among the giant conglomerates in its field.
Ayadin and Miroglio are analogous organizations with respect to their structure and growth strategies. Both organizations, concentrating on women’s clothing, aim to grow fast in retail markets, broadening their operational fields without compromising quality. Shared characteristics in their strategic perspectives and harmony in work ethics have created a perceptible synergy within the partnership.
The Miroglio partnership has created a new platform with the help of over 100 years of experience and know-how from the Miroglio Group and the 25 years of success of the Ayadin Group, all a product of discipline, courage, determination, prudence and creativity. Today, the Ayadin-Miroglio Group is creating a vision for the Ipekyol, Twist and Machka brands, while designing the ready-to-wear industry of the future.
As is clearly stated in its short and long term goals and in line with its vision of becoming a global brand, the Ayadin – Miroglio Group is planning to be a major player in the sector in Central and Eastern European markets as well as in Russia.