Cushman & Wakefield, the world’s largest privately-owned real estate services firm, has signed exclusive mandates with two major international retailers – Clarks and Kipling – as they look to expand in Turkey.
Renowned footwear brand Clarks has appointed Cushman & Wakefield’s Istanbul-based Turkish team to advise on the roll-out of at least 25 new stores in the country. This is in addition to the four sites currently operating in Turkey.
The fifth Clarks branch is scheduled to open in Istanbul by February 2014, while the remainder of stores will be secured by 2018. In total, 17 stores are planned to be based in Istanbul.
Bags and accessories retailer Kipling, part of VF Corporation which owns brands including The North Face, John Varvatos and 7 For All Mankind, intends to open three or four stores per year in Turkey over the next three years. Kipling currently has six Turkish stores.
Toğrul Gönden, Managing Partner of Cushman & Wakefield in Turkey, said: “These exclusive mandates from two major international brands demonstrates market confidence in our retail team, which goes from strength-to-strength. Clarks and Kipling are both looking for shopping centre and high street locations in Turkey – and with our strong retail track record and local expertise, we are well positioned to assist these retailers in finding the best properties available as they look to expand.”