World Footwear

World

Turkish shoe brands facing debt issues

Oct 12, 2018 Turkey
Turkish shoe brands facing debt issues
Local agency news are reporting several issues faced by Turkish footwear companies, going from debt restructuring issues to closure of stores
A number of Turkish shoe brands have recently announced debt restructuring, and the local press is naming companies such as Hotiç, Ye?il Kundura, Beta and Shoes Center as companies facing different difficulties. The first three have been listed as having filed for debt restructuring plans which can be defined as a “reconstruction agreement between the debtor and its creditors.” Shoes Center has been exiting the market by shutting down all of its stores in central Istanbul.

Amid a significant loss in the Turkish Lira’s value, the local companies have started to witness negative developments in their performance, which resulted in the above-mentioned scenario.

According to the latest edition of the World Footwear Yearbook (available here), in 2017 Turkey was the 7th largest footwear producer with a total of 400 million pairs, what represented 1.7% in total world production.

Image credits: Meriç Da?l? (Unsplash)

Related Events

  • Aug
    20
    Aug 20-Aug 22, 2025 | Instanbul, Turkey

    IFCO

  • Sep
    3
    Sep 3-Sep 6, 2025 | Istanbul, Turkey

    AYMOD

  • Oct
    22
    Oct 22-Oct 24, 2025 | Izmir, Turkey

    Intermoda Shoes Fair

  • Oct
    23
    Oct 23-Oct 25, 2025 | Antalya, Turkey

    Eksposhoes Istanbul

Related Organizations

  • Aegean Leather and Leather Products Exporters'Association

    Aegean Leather and Leather Products Exporters'Association

    Turkey
  • TASEV - Turkish Footwear Industry Foundation of Research, Development and Education

    TASEV - Turkish Footwear Industry Foundation of Research, Development and Education

    Turkey
  • TASEV Vocational and Technical High School

    TASEV Vocational and Technical High School

    Turkey
  • TASD - Footwear Industrialists Association of Turkey

    TASD - Footwear Industrialists Association of Turkey

    Turkey