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Durak Tekstil increases its turnover target by 30% in 2024

Published: December 22, 2023

Achieving its turnover targets in 2023, a challenging year, Durak Tekstil aims to grow by 30% in dollar basis in 2024. The company will obtain the main part of the growth from foreign markets, which it has focused on in recent years.

Durak Tekstil, a leading manufacturer of industrial sewing and embroidery threads, managed to achieve its targets in 2023 under challenging production and market conditions. Celebrating its 50th anniversary, the company has been making successful strategic moves regarding exports in recent years with the strength of its solid position in the domestic market. Durak Tekstil, exporting to more than 77 countries, aims to increase its turnover by 30% in dollar basis in 2024, with the main share coming from sales to foreign markets. In 2022, the company increased its global activities and power with the Turquality certificate it received and has focused on expanding its brand awareness globally with its special R&D solutions.

Stating that in 2023, macroeconomic indicators (parameters) were quite challenging, Chairman of the Board of Directors of Durak Tekstil Hüseyin Kuru noted that despite these unfavourable conditions, they achieved the budget targets they set at the beginning of the year. Kuru informed that they achieved a growth in turnover in line with expectations compared to the previous year, making the following remarks about the year; “In general, election years are periods of uncertainty. There was an uncertainty due to the elections to be held in the first half of 2023. Furthermore, the effects of the earthquakes affecting 11 of our cities and causing a great loss of life and property were felt in all sectors. During all these processes, there were serious increases in production costs. The Turkish textile sector has suffered a serious loss in exports in recent years, and unfortunately, our loss of momentum as a country continued at the point of competing in the foreign market in 2023. With the determination of a new economic policy and the emergence of short and medium-term plans, we believe that a more positive process will begin within a few months.”

Kuru pointed out that the wide customer network they have achieved with the brand power that comes from quality production provides them with an advantage in these challenging market conditions and disclosed; “Durak Tekstil has tens of kinds of sewing and embroidery threads that appeal to many different sectors. Since we do not confine ourselves to a single field we are able to tolerate any decline in one field with sales in other fields. We offer our high quality, technically specialised and sustainable products to manufacturers with the best service. In this way, we reached more than ten thousand customers in both domestic and foreign markets throughout the year. By emphasising its brand and quality differentiation in industrial thread, Durak Tekstil has become a more demanded partner in the market. In the long term, this development is more important than periodic sales figures. After all, we grew against all odds in 2023, and the real figures we have achieved draw us a very optimistic outlook for 2024.”

2024 target is to increase turnover mainly abroad

Remarking that 2023 turnover was realised in parallel with expectations, Hüseyin Kuru emphasised that they are targeting 30% growth in dollar basis in 2024. He indicated that the domestic market has a 10% share in this growth and that the main growth will be experienced in international sales.

Kuru stated that Durak Tekstil is a company that makes sales to 77 countries as of today, highlighting that they have reached all 5 continents in exports mainly in Central and Eastern Europe and North America. Reminding that in 2022 they were accepted to the Turquality programme, Kuru said; “Being the first in our sector to be included in Turquality, which provides support to Turkish companies in foreign markets and whose participation depends on very challenging conditions, will turn into an important advantage for us. The Turquality programme encourages us to establish dominance in these markets by digging deeper.” He informed that they have placed many activities and investment programmes in the budget agenda in 5 different country markets determined within the scope of this programme adding that they aim to place Durak Tekstil among the world’s top 5 big brands in its field for the medium term.

10% of employees are employed in R&D

Hüseyin Kuru stated that Durak Tekstil carries out activities that go beyond being a standard sewing and embroidery thread manufacturer and constantly expands its markets with innovative products as a result of intensive R&D activities. Saying; “R&D is our driving force”, Kuru continued his words as follows; “We allocate 7% of our profit to R&D activities every year. Our in-house R&D department consists of expert engineers and interdisciplinary experts. When I say that 10 percent of our total employment consists of R&D employees, I think we will have shown how much importance we attach to this issue. Therefore, I can say that we are the locomotive company in our sector in terms of product development.” He remarked that they carry out joint studies with both the sector and universities for R&D studies, stating that innovations that appeal to technical specifications and special usage areas will be launched in 2024. Pointing out; “Durak is in every aspect of life”, Kuru added that among the new products they will introduce to the market this year, there will be an innovation that will facilitate the care of the elderly and the sick.

Indicating that Durak Tekstil focuses on sustainability as much as developing innovative products, he explained that they have transformed this concept into a part of their corporate identity with an end-to-end concept as follows; “Sustainability is of fundamental importance for us as a concept that constitutes the dynamism of the supply chain. This process, starting from the sources of raw materials, covers a traffic that goes all the way from the finished product to the customer and even to after-sales service. We meet the criteria for ecological sustainability and recycling, as well as implementing our plans for financial sustainability. Our durability, capital structure, financial strength and customer profile determine our basis regarding competition. To conclude, Durak Tekstil as a financially sustainable company adds more value to its stakeholders both with its production processes and products.”

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