Karaca brand, a brand that enjoys a well-established 50-year history, has opened its second store at Westfield London, at the largest shopping mall in Europe, after successfully establishing its first store in Islington Square, a popular shopping location in the UK capital.
LONDON, UK. November 20th, 2023 – Karaca, a prominent brand in the Turkish home and lifestyle sector for 50 years, is delighted to announce the opening of its second store in the United Kingdom, situated at Westfield London, Europe’s largest shopping centre. This move marks a significant step in Karaca’s global expansion strategy, following the success of its inaugural store in London’s Islington Square.
Founded in 1973, Karaca has evolved into a household name in Türkiye, renowned for its diverse array of over 28,000 products. The brand has revolutionized the home and lifestyle industry with its innovative and high-quality offerings, ranging from kitchen essentials and tableware to small household appliances and elegant home accessories. Among its standout products is the Fine Pearl Collection, the world’s first and only dinner set made from real pearls, exemplifying Karaca’s commitment to exceptional design and craftsmanship.
Strategic investment in the UK marks the start of global market expansion
Karaca’s international presence spans 48 countries with 305 stores and more than 2,000 sales points, and is testimony to its enduring legacy and popularity. The company’s expansion into the UK market is a strategic move to cement its position as a leader in the global market.
Cihangir Çetintırnak, Country Director of Karaca UK, remarked, “After a solid history of 50 years, our vision is to establish ourselves as one of the top three brands in our category not just in Europe and America, but across the world. The opening of our second store in Westfield London, is a crucial milestone in achieving our 2030 vision. Following the success of our Islington Square store and our growing presence in the UK e-commerce market, we are enthusiastic about using the UK market as a springboard for expanding our global presence.”
Strengthening UK-Türkiye trade relations for a new era of economic partnership
The expansion of Karaca in the UK aligns with the broader context of burgeoning trade relations between the United Kingdom and Türkiye. UK government has recently initiated a call for input so as to establish a new, modernised free trade agreement (FTA) with Türkiye. This FTA aims to supersede the existing agreement, which is based on outdated provisions from the 1990s and limited to goods trading only.
The new FTA will be more encompassing, covering new sectors such as technical and digital services, tech, so as to serve more effectively the needs of the 21st-century economy. The growing volume in trade, which reached a figure of £26 billion in the 12 months leading up to June 2023 further highlights Türkiye’s role as one of the top 20 trading partners for the UK.
Karaca’s growth in the UK market is a reflection of this blossoming economic relationship. The updated FTA is expected to create more opportunities for Turkish companies to establish and expand their presence in London and across the UK, fostering a dynamic business environment and enhancing cultural exchange.