Turkish Retailer ‘Penti’ Expands into North America with 1st Store in Halifax
March 19, 2019
PHOTO: PENTI CANADA VIA FACEBOOK
By Craig Patterson
Turkish women’s fashion retailer Penti has launched its North American expansion with a store in Halifax, Nova Scotia. The retailer will test the market before expanding furthermore, with an expectation that as many as 10 stores could open across Canada over the next two years.
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Penti refers to itself has a “Turkish-European franchise”, with more than 600 stores in Turkey, Europe, and the Middle East. Product categories carried in Penti stores include: women’s intimates, hosiery/legwear, socks (for both women and men), activewear, beachwear and some homeware items, according to its website.
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The brand was started in 1950 as two companies, which were subsequently united under a single brand, Öğretmen Çorap, in 1970. In 1984 the company’s name was changed to Penti. The first Penti store opened in Istanbul in 1999. Penti partnered with one of the world’s largest venture capital organizations, The Carlyle Group, in 2016.
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Globally, Penti has about 300 stores across Turkey, as well as more than 100 stores in 29 countries, and further exports to 43 countries. The company is expanding its network of stores rapidly, with sales offices located in the United Kingdom, Romania, Ukraine and Spain.
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The Halifax store will be used as something of a test for the brand before it expands further across the continent. Plans are preliminary, but a representative indicated that between five and 10 stores could open in Canada over the next two years, targeting markets as far westward as Vancouver.
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https://www.retail-insider.com/retai...ore-in-halifax