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How Turkish Brands Conquered the ‘Rest of the World’

Turkish fast-fashion giants LC Waikiki, Koton and DeFacto have rolled out hundreds of stores in high-growth, high-risk frontier markets like Albania, Uganda and Mongolia where rivals H&M and Zara have little or no presence.
Turkish fast-fashion retailer LC Waikiki estimated sales of more than $5.3 billion in 2024.
Turkish fast-fashion retailer LC Waikiki estimated sales of more than $5.3 billion in 2024. (LC Waikiki Instagram)
By
  • Shayeza Walid

Key insights

  • Turkish brands are scaling store networks in far-flung frontier markets by focusing on affordability, local production and flexible business models.
  • Brands have penetrated challenging yet dynamic markets like Venezuela in Latin America, the DR Congo in Africa, Bosnia in Europe and Tajikistan in Asia.
  • In some countries, growth is constrained by challenging market conditions, limited retail space and competition from the informal retail and unbranded sectors.

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Cities like Tirana, Kampala and Ulaanbaatar are rarely a target for global fashion players, but Turkish brand LC Waikiki sees them as a golden opportunity. As rival fast-fashion giants

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Plus, access one complimentary BoF Professional article of your choice, each month.

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