Monday, 16th May 2005 (7542 views)

Goldas, the Turkish jewellery giant, has reported revenue of more than $500 for 2004, with expectations of significant growth in the years ahead.

According to Resource Investor, the company has forecasted a 30 per cent sales growth year on year for 2005 and 2006, as a result of the booming gold market in Turkey.

Founded in 1993 by a leading Turkish textile family, Goldas was the first publicly traded jewellery company in Turkey and is now the country's leading jewellery producer.

The company's 4,500-square foot plant in Istanbul has an output capacity of 14 tonnes, boasting 60,000 pieces of jewellery in its sparkling repertoire.

As well as nine branded stores in Turkey, Goldas also trades in the United Arab Emirates, Germany and Moscow, with foreign sales accounting for almost one third of revenue.

Bosses are aiming to reach their 100-store target within the next five years.

Turkey is now the third largest gold jewellery market in the world, after India and the US, and its third-largest manufacturing country.

 

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