“The Turkish DIY market is its infancy and the potential is crazy.”
Sources inform ''Globes'' that DIY retailer ACE Marketing Chains Consumer Products Ltd. has obtained permission from ACE Ltd. (NYSE: ACE) to operate in Turkey. The company will launch a chain of ACE and Auto Depot stores in the country.
ACE Israel is currently negotiating with three leading Turkish companies on opening stores in partnership with one of them. ACE Israel hopes to sign an agreement soon and open the first store this year.
ACE Israel general manager Kobi Muissa said, “We’re seeking a strategic partner with extensive retail know-how, who understands location, marketing, and commerce. We’re not looking for a capital partner. The Turkish DIY market is its infancy and the potential is crazy.” He notes that European DIY chains already operate in the country.
Published by Globes [online], Israel business news - www.globes.co.il - on March 27, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007