Headline: "Koton Enters Hungarian Market with Its First Store Launch!"
Koton continues its global expansion journey. The Turkish fashion brand has opened its first store in Budapest, Hungary, after signing an agreement in July with Adventum Group, one of Hungary's leading real estate investment fund management companies, to open eight stores. The first store is located in Koki Mall, Budapest. The opening was hosted by Koton CEO Dr. A. Bülent Sabuncu and attended by Turkish Ambassador to Budapest, C. Gülşen Karanis Ekşioğlu, Commercial Counsellor Nur Durmuş, and Commercial Counsellor Sedat Karaoğlu.
With 440 stores and online sales channels across 70 countries, Koton is adding Hungary to its global network. The partnership with Adventum Group aims to open eight stores in Hungary from the last quarter of this year until the end of 2025. Dr. Sabuncu, speaking at the store opening, expressed that their aggressive growth efforts continue in line with their globalization strategy, targeting the opening of 130 to 150 new stores, primarily abroad, and expanding online partnerships.
The partnership was fortified with the signing of a collaboration agreement with Adventum Group on July 5, 2024, planning a strong entry into the Hungarian market with eight stores, three of which will be in Budapest. The first store has now opened and started operations in Koki Mall, Budapest.
Dr. Sabuncu mentioned that in addition to Budapest, Koton aims to expand across Hungary by opening stores in other major cities such as Sopron, Debrecen, Szeged, and Székesfehervár.
Adventum's extensive retail asset portfolio provides a strong platform for Koton's rapid entry into the Hungarian market. Adventum manages over 700,000 square meters of commercial real estate in Central Eastern Europe, valued at over 1 billion euros. Its sustainability strategies guided by international agendas focus on reducing lifetime CO2 emissions. The planned store space in Adventum's flagship Köki Shopping Centers is set to exceed 6,000 square meters, with the largest store expected to be around 1,000 square meters.