We are doing exercises for the Americas in purchasing.


RAM Holding of the president of the durable goods group Fatih Kemal Ebiçlioglu, When we met at the IFA consumer electronics fair in Berlin, he considered the position of Vice President of the Association of Electrical and Electronic Equipment Exporters, and entered the conversation with an industry assessment:

The global home appliance market grew 14% in terms of revenue in 2021, reaching $ 249 billion. The global home appliance sector is estimated to reach 557 million units and a size of $ 285 billion in 2024.

He stressed the place of the Turkish durable goods sector in the world:

Turkey ranks second after China in world production of household appliances. The total exports of our country in this sector amounted to 4.6 billion dollars. 75% of the production is exported, mainly to Europe.

He pointed out that the industry’s home appliance sales last year exceeded 34 million units:

The home appliance sector in Europe, which is Turkey’s main export market, grew 2.4% in 2021 on a unit basis. We aim to gain more share in this market by increasing our competitive power even more. We need to make Turkey the center of high-tech manufacturing.

He pointed out that the home appliance sector has a surplus in foreign trade:

The sector’s annual export is approximately $ 4.5 billion. It gives an export surplus of around $ 4 billion.

Based on data from the Union and the Turkish White Goods Manufacturers Association (TÜRKBESD), it shared the following information:

We are in the top 3 in many products among the largest home appliance exporting countries in the world.

He also drew attention to the ecosystem of the sector:

The household appliances sector provides 60,000 direct and 600,000 indirect jobs. It represents a large ecosystem with 15 thousand resellers, 3 thousand 500 authorized services, sub-industrialists and suppliers.

Then he focused on this year’s data:

  • In the period January-July 2022, sales in 6 main product groups, including exports, decreased by 2% and amounted to 19 million 361 thousand units.
  • In the period January-July 2022, domestic sales decreased by 7% in 6 main product groups to 4 million 870 thousand units.
  • In the period January-July 2022, exports followed a trend parallel to the previous year per unit. 14 million 490 thousand units were exported.
  • In the first 7 months of this year, production decreased by 5 percent, reaching 18 million and 575 thousand units.

At this point in the conversation, we turned to the Koç Holding durable goods group and its locomotive, Arçelik. Arcelik CEO Hakan Bulgurlu how Fatih Kemal Ebiçlioglu also discussed the turnkey acquisition of Whirlpool Russia, which closed at the end of August:

We have acquired all shares of Indesit International JSC and Whirlpool RUS LLC operating in Russia, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan, Armenia, Georgia, Azerbaijan, Kazakhstan, Belarus and Mongolia.

He recalled the capacity of the two plants acquired:

Lipetsk companies have an annual production capacity of 2.8 million refrigerators and washing machines.

He pointed out that they have reached an important point in terms of geographic distribution in the world, with acquisitions and partnerships from Hitachi to Defy in South Africa, from Pakistan to India and Romania:

On our agenda, we focus on the American continent, Canada, the USA and South America. We try to see if buying opportunities develop, we practice.

He noted that they had looked at the American continent in the past and are now interested, adding:

We are evaluating whether there will be a leap forward in Arçelik’s growth path.

The acquisition of a brand or a company in the United States opens the door to the growth of Arçelik, right?

Activated retailers in online orders, it became a “case” at Harvard

RAM Holding of the president of the durable goods group Fatih Kemal Ebiçlioglu, He said Arçelik’s traditional dealer network is very valuable:

While Arçelik invests in e-commerce, we protect the traditional reseller channel. Our dealer network is very valuable to us. We share our earnings by directing online orders to our resellers.

Then he added:

This business transformation model of ours was started to be taught at Harvard University (USA) by turning it into a case study.

He noted that they saw examples of dealerships transitioning to second and third generation families in Anatolia:

Among our resellers are those who have a doctorate and those who are musicians.

We have the power to borrow at extraordinarily good cost

RAM Holding of the president of the durable goods group Fatih Kemal EbiçliogluWe asked Arcelik about financing models during the company’s acquisitions and he replied:

In addition to our own stocks, we borrow to some extent from international markets.

We wondered how Arçelik’s ownership of 30 properties and 12 brands in 9 countries and its global structure impacted its financing costs:

– Do you have more chances to borrow than the current credibility of the country of Turkey?

He answered:

We have the power to borrow on exceptionally good terms.

He also gave an example:

In 2021 we issued green bonds for 350 million euros on international markets. Therefore, we became the first real sector company to issue green bonds from Turkey to international markets. The loan took place with an interest of 3%.

He recalled that Turkey is among the developing countries:

The company from a developing country, namely Arçelik, grows by acquiring companies and brands in developing countries and making investments there. This model attracts the attention of the international financial markets.

Collaboration with more than 80 start-ups developed

RAM Holding of the president of the durable goods group Fatih Kemal Ebiçlioglu, by Arcelik “Open innovation” He stated that he collaborates with more than 450 universities, research institutes and companies in more than 20 countries with his approach:

With Garage Innovation Hub, we aim for global leadership by expanding open innovation collaborations on a global scale.

He noted that Arçelik Garage Innovation Hub is one of the largest open innovation platforms from Turkey to the world:

Garage Innovation Hub has reviewed more than 2,000 start-ups to date. In the last 2 years it has developed collaborations with more than 80 start-ups.

We will soon be establishing a factory in Egypt

RAM Holding of the president of the durable goods group Fatih Kemal Ebiçlioglu, He pointed out that Arçelik continues its organic growth in addition to acquisitions:

We previously announced our decision to invest in a factory in Egypt. We will soon reach the pioneering stage.

He claimed that they established themselves in the Egyptian market at some level with exports:

We will produce some of the products we export there.

We asked for the monetary size of the investment and made the following calculation:

A factory of the size we plan to build in Egypt will cost around $ 100 million.


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