Finance

Kiğılı/Suerdem: We seem to lose our market to North Africa

Kiğılı Deputy Chairman of the Board Hilal Suerdem, who was a guest of Bloomberg HT, evaluated the impact of cost increases on the ready-made clothing industry and the future expectations for the industry.

Hilal Suerdem, in her speech stating that they had a very good year 2022 as the retail sector, stated that the manufacturing sector had difficulties in the last 6 months of 2022 due to cost increases, but tourism “very seriously” supported the retail world.

Stating that the problems in exports continue today due to the cost and the expectation of recession in Europe, Suerdem said, “The rise in manufacturing costs in Turkey and the decrease in freight prices in the Far East is not something that suits us. In fact, we started to seem to lose our market to North Africa. That’s what’s going to get us in trouble. However, our biggest advantage, our years of business knowledge, our quality and our proximity to Europe will never put us back from the world. We will always remain first.” said.

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