Colins plans growth in Europe through Bigstar
The Eroglu Group plans to sell the Bigstar brand in Europe in five years to exceed 300 million euros. The Eroglu Group has already achieved great success on the Russian market thanks to the brand Colins, and for success on the European market, it chose to buy the Swiss brand Bigstar. The “Bigstar” brand is one of the most popular European brands, and the right to use its name was acquired by the “Eroglu” group for 10 million euros.
The owner of the Eroglu group spoke at an international press conference at the bigstar general center in Germany. He said that the last years were very hard for the Bigstar brand due to some strategic management mistakes.
“The company filed a bankruptcy application and was posted on a sale 6 months ago. We have been cooperating with her for the last 2-3 years, so we also decided to file a request. ” Eroglu said that besides them, the company had a lot of other applicants, but their proposal turned out to be the most profitable. “We have acquired all the assets and rights of the company, with the exception of these in the United States and Poland, for 10 million euros.”
The decision on license rights in Poland is expected in the near future, and the right to use the name of the brand in the United States will receive the group “Eroglu” in three years.
Swiss brand received international status. The largest markets for brands are Germany, France, Switzerland, Austria, USA, Benelux, Russia, Ukraine and Poland.
Eroglu is positive on the name of the brand in Turkey
Nurettin Eroglu expressed hope that in the near future the trial, which lasted over 10 years, will end, on the use of the name of the brand “Bigstar” in Turkey by another company. “For us, the Turkish market is not the main prerogative. Here we intend to carry out only the release of its products. In this case, we will achieve an export level of over 100 million euros. ”
At present, at 4 factories of the group with a total area of over 100 thousand square meters. The company produces not only its own Colins and Loft products. The company also takes production of such world leaders like “Tommy Hilfiger”, “Calvin Klein”, “GAP” and “Next”. Eroglu says that in 2004 the group succeeded in exceeding the production level of 20 million units. The company exports over 80 percent of its products. “Currently, Colins is leading in terms of sales in the Russian market. We have 36 shops in Russia and 22 shops in Ukraine.
The total number of our shops abroad is 70. If you turn on retail outlets where our products are sold, the mark will reach 1,470 shops. ”
Finally, Eroglu announced that together with the “Bigstar” stimulus, the group intends to achieve a sales volume of 1 billion euros in five years.