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A Turkish Fashion Outlet Plans to Open 330 Stores in 3 Years

  • Ready-to-wear fashion outlet seeking acquisitions, CEO says
  • Share sale will ensure company can ‘move fast’ on deals

Turkish fashion outlet DeFacto Perakende Ticaret AS will use proceeds from a share sale next month to cut debt and fund an expansion at home and abroad.

The ready-to-wear clothing retailer plans to open as many as 110 stores in each of the next three years through 2020, Chief Executive Officer Ihsan Ates said in an interview in Istanbul. The company, which had sales of 2.65 billion liras ($674 million) and net debt of $117 million at the end of 2017, has 464 stores, 134 of them in 24 countries outside of Turkey, he said.