A government-backed programme to help Turkish firms create world-class brands is extending the support available to companies by another five years to help them build their businesses.
The Turquality project, which was set up in 2004, has until now provided a five-year support package to develop Turkish brands. But incentives will now be available for a ten-year term, Zafer Çaglayan, state minister for foreign commerce, announced at last week’s Istanbul Fashion Week.
“We’ve realised that five years is not enough to build an international brand so have increased the support period to ten years,” he said. Incentives include marketing/promotion, and consultancy to help companies grow more quickly.
This ambitious project, which is promoted by the Turkish ministry of trade and industry, aims to upgrade the international image of Turkish-made products and help firms focus on the higher value-added segments of the global market.
Of the 75 Turkish companies now supported by the scheme, 25 are in textiles and ready-to-wear, “and we want to increase this number,” the minister said.
While Turkish firms already produce for the world’s major brands and retailers, the industry is increasingly focusing on developing, promoting and marketing its own-designed lines.
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