Home / Knowledge / News / Fashion / Under Armour, Dwayne Johnson sign long-term deal
Under Armour, Dwayne Johnson sign long-term deal
28
Jan '16
No sooner than the world powers agreed to end to economic sanctions against Iran, leading fashion brands and other businesses in Turkey are making a bee-line to open shop in Iran to grab a market share in the country of 80 million people.

Leading Turkish apparel brand D'S Damat announced it has opened a new store in Tehran just three days after the world was informed about the lifting of the sanctions last week after Iran agreed to end its nuclear weapons programme.

The timing of Damat opening of its Tehran branch and announcements by similar textile firms brought to the fore the Turkish industry's desire to seize possible opportunities in Iran, a report in the Turkish daily Today's Zaman said.

The United Brands Association (BMD) -- the Istanbul-based umbrella organization for over 500 renowned Turkish brands, most of which are retailers – expects to open about 865 stores in Iran over the next three years.

“Twenty-nine of our brands already have 135 stores in Iran. As the embargoes are being lifted, 20 more brands are now able to open 500 stores in total. With the new stores that will be set up by existing Turkish companies in Iran, the total number could rise to 1,000 after three years,” a BMD official said.

On the back of sanctions-driven woes, Turkish exports to Iran fell from $9.9 billion in 2012 to $4.1 billion in 2013, $3.8 billion in 2014 and $3.68 billion in 2015.

“Iran has become an attractive market for Turks after the sanctions, but it is challenging as well,” Bilgin Aygül, the head of the Turkish-Iranian Business Council said.(SH)

Fibre2Fashion News Desk - India


Must ReadView All

May 31 deadline for registration of chemicals under REACH

Textiles | On 23rd May 2018

May 31 deadline for registration of chemicals under REACH

May 31 is the final deadline for companies to register all chemicals...

US cotton production projected to decline in 2018: USDA

Textiles | On 23rd May 2018

US cotton production projected to decline in 2018: USDA

US cotton production is forecast at 19.5 million bales, nearly 7 per...

Pakistan's textile exports up 8.13% in July-April FY18

Textiles | On 23rd May 2018

Pakistan's textile exports up 8.13% in July-April FY18

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search