Terteks Seeks Partnership Adviser as Bundchen Line Added
Terteks Tekstil Ithalat Ihracat & Pazarlama AS, the slipper retailer licensed to sell Brazilian supermodel Gisele Bundchen’s lingerie line in Turkey, is seeking a financial adviser to find an industry partner to expand.
“There are six or seven companies that have recently shown interest” in cooperation, Sinan Oncel, the founder and chairman of family-owned Terteks, said today in an interview in Istanbul. “We can have a partnership with a strategic company that will give us know-how and help us grow,” and “we are now looking for an adviser to that end.”
Terteks owns the Twigy slipper store chain in Turkey, and according to its website offers the footwear of other brands such as Bundchen’s Ipanema, made by Brazil’s Grendene SA (GRND3), and De Fonseca of Italy. Terteks will start selling underwear produced by Brazilian manufacturer Hope under the Gisele Bundchen Intimates brand in Turkey in September, Oncel said today at a press conference.
The company aims to increase sales by as much as 25 percent this year from the 28 million liras ($15.7 million) generated in 2011, Oncel said.
Turkey’s clothing market has lured investors from abroad as the government expects the country’s economy to expand 4 percent this year. That growth compares with a 0.1 percent contraction predicted for Europe, according to estimates compiled by Bloomberg. Turkey’s 8.5 percent increase in gross domestic product in 2011 was the third-fastest among Group of 20 nations, after China and Argentina.
The Carlyle Group, Mid Europa Partners LLP and a partnership between a LVMH Moet Hennessy Louis Vuitton SA (MC) unit and Istanbul-based Turkven Private Equity are shortlisted to buy a minority stake in Turkey’s hosiery and swimwear maker Penti Corap Sanayi & Ticaret AS, Kerim Kotan, managing director of sell-side adviser Pragma Corporate Finance, said Aug. 6.
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