In fact, last year two foreign banks, the Russian Sberbank and the Kuwaiti Burgan Bank, entered the sector.
The US Amgen entered the pharmaceutical sector, where there are already a lot of players. Cigna, one of the largest health and life insurance companies in the US, entered the sector in Turkey in 2012. In brief, it is not only in the new sectors in Turkey, new players are also entering traditional sectors. There is talk of new names preparing to enter various sectors. An extensive survey by Capital reveals these developments.
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Turkey, is one of the countries in which new players have entered several areas. In the last few years, from pharmaceuticals to clothing, foodstuffs and technology, new foreign and domestic players have taken their place in the Turkish market, which does not lose its appetite for growth. Experts say that the reason that space may still open up for new players in several sectors in Turkey is its “open structure”. In the last few years, as many countries around the world have been severely damaged by the crisis, Turkey has retained its economic stability and this has become the reason why foreign companies in particular see the country as a new growth market. When we look at the situation on a sectoral basis, we see that the banking, insurance, clothing, information technology, electrical household appliances and logistics sectors come to the fore as the areas which have space for new players.
WHERE IS AN ENTRY POSSIBLE?
Coming to which areas of different sectors have space for a new player... This varies according to the sector, In logistics, the potential for growth for new players is mostly in railroads and maritime transportation.
In household electrical appliances, the electric vacuum cleaners, irons and personal care categories look like the ones that it would be easiest for new players to enter, Serhan Akin, the board chair of Arnica, which has been one of the fastest growing players in the sector in recent years, explains why, ina sector in which 172 brands have a presence with 5,000 different models, there can still be new entries in these categories: “In Turkey, 600,000 people get married every year. These homes create a need for electrical household appliances. Our sector is continually growing. As a result, our ranks are continuously being swelled by new players.” It is said that in insurance there could be a new area in political risk insurance. In banking it looks as if participation banking is ready for development. Feyzullah Eğriboyun, the deputy general manager of Bank Asya, which is one of the largest players in this field, states that the amount of organic growth is dependent on the entry of new capital.