After our first three days in Turkey I can honestly say this has been an illuminating, life changing experience for most of us! None of us had previously traveled to this part of the world, let alone knew about the cultural vibrancy flowing through the streets of this beautiful country. While all of us have venture past our lovely hotel (Palazzo Donizetti) located near Taksim Square and the world-famous Istiklal Avenue, our first order of business in Istanbul has been learning about the Turkish economy and how it helps to sculpt the environment for our client, Beymen.
On Monday, May 12, we visited the head offices of IS Investment Securities, the premier investment banking firm in Istanbul, as well as Koc Holdings, which constitutes roughly 10% of the Turkish economy with their respective financial positions. While at both visits, we learned about the exciting investment prospects Turkey holds-both for domestic investment as well as FDI (foreign direct investment) and joint-ventures. In addition, we heard that despite the current account deficit in Turkey (net imports exceed net exports) Turkey is moving towards cutting its energy costs (by re-positioning its energy importing structure, thus cutting costs), as well an investing in as increasing urban, educated and youthful population (the average age in the country is around 30). Moreover, we visited the Istanbul stock exchange where we learned about the capital markets in Istanbul, in addition to reinforcing the economic insights mentioned above.
Next, we moved on to the gorgeous Zorlu Center, home of Beymen’s flagship store. While there, we met and learned from senior executive officers who were eager to teach us about not only the state of the art facilities that Beymen customers experience, but also how Beymen’s excellent customer service and willingness to adapt allow it to stay a step ahead of its closest competitors.
As we approach our initial client meeting with Beymen, needless to say, we all are eagerly anticipating deploying the knowledge we’ve accumulated thus far… and of course, we are celebrating with Raki, the Turkish drink of choice!
The full 2014 CAP Class at the Istanbul Stock Exchange:
Outside Zorlu Center:
Inside the Beymen store at Zorlu Center:
Drinking Raki at our Team Welcome Dinner!: