Penti is among the top 3 successful manufacturers of Europe with its 99.9% brand awareness.
Having entered into the sector with the name of “Teacher Socks” in 1970, the firm continued to evolve with establishing its first production plant in Istanbul Bayrampaşa after a year. Increasing the power in line with its rising production capacity over the years, Teacher Socks strengthened its position in the sector under the name of Penti in 1984. Penti became one of the most preferred brands in women’s leg clothing, underwear and swimwear. We had a nice conversation with Penti Chairman Sami Kariyo about the great success of the company.
Could you introduce your company to us briefly?
Penti is active in design and production of leg wear, underwear and swimwear. It has a market share of 50% of the fine hosiery in Turkey and is among Europe's top 3 manufacturers. Penti is the most popular brand for women in Turkey. Furthermore, it is the producer of a lot of world-famous brands. The company started to build its own chain stores in 1999 under the name of Penti. At the moment, it has 300 stores in 60 provinces throughout the country. Each year, Penti becomes much more widespread in global market. From America to Mongolia, from Saudi Arabia to Azerbaijan, Croatia, Macedonia and to Kosovo it is serving totally in 106 stores in 29 lands. Entering into the European market by opening 2 stores in Madrid in 2015, Penti also signed a partnership with the Carlyle Group as one of the world’s largest investment funds. With this success, Penti aimed to creat a global Turkish brand. The company now bears to strengthen its leadership also in underwear and swimsuit retailing.
Being eligible to receive the TURQUALITY® certification as the first and only socks-underwear brand last years, Penti took an important step forward in international promotion and branding way. In its head office in Istanbul and in other factories and shops, 2500 people are working and 81% of this amount consist of female workers. Also 98% of the employees at stores are female.
How can you describe us the performance and the success of the company?
We have a great turnover in the last years. Because we sold over 30 millions of products in Turkey serving in 300 stores in 60 provinces across the land. We grew up in retail sales and we raised our total sales’ area to 35000 m². As well as in Turkey, we aim to be “Love Brand” for women also in international scale. We plan and develop our marketing, sales strategy and investments accordingly. Our goal is to increase the number of our stores further in Turkey and expand our domestic areas. Also abroad, we aim to enter into new markets of new countries and become widespread in the countries where we already exist. Domestic and abroad, we plan to open approximately 100 stores each year. At the end of 2017, we aim to reach 400 stores across Turkey. We are serving abroad in 29 countries at the moment. We aim to increase our sales’ rate above 1 billion TL in 2018.
What could you tell us about your R&D activities?
We attach great importance to R&D and innovation studies. So far, we made Turkish women meet a lot of “firsts”. We set up 5 different innovation teams and are expanding our products and categories in this direction. We serve with our products in 3 main categories in domestic and overseas’ markets simultaneously. Each year, we create new products for our costumers.
What is your production capacity?
We produce more than 86 million pairs of socks per year. We are among the top 3 of Europe's largest manufacturers. We are the world-renowned manufacturer of many brands like Marks&Spencer, Tesco, Primark, Boots etc… We are also among the major customers for H&M and Carrefour. We serve in 3 main categories: Leg wear, underwear and swimwear. Adding sportswear, casual wear, home wear and accessories’ sub-categories to these main categories, we are expanding the collections more and more each year. As well, children's clothing, home wear and leg wear products are also among our collections.
Could you describe the share of your successful products in domestic and international markets?
We maintain our leadership in the markets with the share of 40% of socks, 17% of swimwear and 8% underwear. We have a share of about 9% in the UK market. Also in Australia, we have a significant market share. We are the market leader in Kosovo, Macedonia, Georgia, Azerbaijan and Saudi Arabia in line having the highest awareness in Middle East and in Balkans in the categories in which we operate. Additionally, we are the most preferred brand for purchasing leg clothing.
Particularly in Balkan countries, from the United States to Saudi Arabia, from England to Mongolia, from Russia to Germany in many countries of the world, women are wearing on Penti now. Middle East, former Soviet countries, Palestine, Belgium, South Africa, North African countries are also among the countries where we have our stores. We still plan to open new sections in other countries.