Rebul/Müderrisoğlu: 2025 Goals and Increase in General Expenses

Rebul/Müderrisoğlu: General Expenses Increased to 33% of Revenue

Making important evaluations about Turkey's luxury sector, Müderrisoğlu stated that 2025 will be a challenging year. “Due to our domestic and international position, we have not experienced any downsizing,” he emphasized the company's stability.

Our History and Growth Strategy

Sharing their 130-year history, Müderrisoğlu stated, “We initially worked wholesale, then opened our first retail store in Istanbul in 2013. Currently, we have a total of 60 sales stores and 2,000 sales points in Turkey and abroad. We set out to balance our growth in Europe and the Middle East.”

Consumer Behaviors and Foreign Revenue Share

Expressing that 2025 will be a taxing year, Müderrisoğlu noted that the share of foreign revenue has decreased from 30% to 17%. “High inflation in Turkey has negatively impacted household consumption within cosmetics. Consumers seem tired this year,” he stated. He also reported a recent decrease in the total number of tourists.

Our Competitive Advantages

The Middle East is among the important markets. Müderrisoğlu said, “We are collaborating on many projects there. We have both stores and product distribution in Dubai, Kuwait, Qatar, and Bahrain.”

Foreign Growth Targets

Müderrisoğlu mentioned, “We have growth plans in Germany, Switzerland, and Austria. London has become a remarkable market in the post-Brexit period, and we opened our first store this week,” he stated. He also indicated that they have made significant agreements with India.

Cost Management and R&D Investments

Müderrisoğlu said, “We are trying to consolidate cost increases in 2022. Currently, 40% of our total revenue comes from exports and 60% from the domestic market. We allocate 2.5% of our total revenue to R&D, but we are struggling to make this investment under the current conditions.”

E-commerce and Future Vision

Müderrisoğlu emphasized that e-commerce has shown significant development in recent years, stating, “22% of our trade in Turkey comes from e-commerce. We aim to increase this rate to 33% in the Benelux countries.” He also mentioned that this year they are preparing for an investment in a digital brand.