Turkish Discounter BİM Records Growth Of 21% For 2015
Turkish discount supermarket BİM has recorded growth of 21 per cent and turnover of TL17.4 billion (approximately €5.4 billion) for 2015.
The retailer chose not to pass increased purchase prices in Turkey on to its customers in 2014, helping it to retain shoppers and see a 48 per cent increase in profitability in 2015 compared with the previous year.
Speaking at BİM’s annual conference this week, Executive Committee Member Galip Aykaç commented, "BİM is a trusted and stable part of Turkey’s economy and the retail sector with its increasing employment levels, high level of trust from consumers, and powerful and sustainable growth.
"As well as our performance, the awards we won last year show that our status has been recognised by other sectors and the public."
The company opened 470 new stores around Turkey in 2015, bringing its total number of outlets to 4,972.
Its private label sales were particularly strong, growing by 21.5 per cent compared with the previous year to be worth TL12.2 billion.
Outside of Turkey, its discount stores in Morocco and Egypt continued to attract consumers. It ended the year with 279 stores in Morocco and 140 in Egypt.
BİM Executive Committee Member Haluk Dortluoğlu commented on the brand’s strategy going forward, saying, "2016’s growth aim is two digits this year as well. We expect 20 per cent growth.
"We aim to reinforce our infrastructure by making investments of TL700 million and opening at least as many stores as last year and providing new employment for 3,500 people."
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Jenny Whelan. To subscribe to ESM: The European Supermarket Magazine, click here.