Koç Holding

Proud and strong parentage

Setur Duty Free & The Koç Group

Created in 1965, Setur Duty Free may be one of travel retail’s longest-established companies but its parent company Koç Holding traces its roots way back to 1926.

Koç Holding’s main objective over the past 90 years has been to consistently create value for shareholders and to manage activities according to the highest international standards of corporate governance, customer satisfaction, sustainability and social responsibility.

The group has been a leader across multiple fields since its founding, pioneering industrial breakthroughs, international partnerships and launching Turkey’s first initial public offering for its shares in 1966. It is still the only company in the country to enter the Fortune Global 500 list (2016) and was the first Turkish company to be represented in the Forbes World’s Best 100 Employers list.

Koç Holding continues to build on leading positions with strong competitive advantages in energy, automotive, consumer durables, finance and tourism sectors – including duty free, a sector it holds lofty ambitions to develop both at home and abroad. Koç Holding exports to more than 145 countries and has more than 60 manufacturing facilities and marketing companies abroad.

Taking a prominent position in the duty free market

Setur Duty Free today plays an important role within the diverse Turkish and international portfolio of Koç Holding. The company is a pioneer in the channel, having been founded in mid-1964 as the first company in the sector, after the decision was made to initiate duty free activity in Turkey. Having initially offered only duty free services – which now cover airport, seaport and land border stores – the company is firmly embedded within Turkey’s tourism structures and national economy. Its travel agencies deliver a variety of tourism services through 400 authorised agents, alongside private air transportation services. Combined, these entities employ nearly 900 staff members. Setur Duty Free’s network spans 46 stores in 20 locations, featuring more than 40,000 products from over 600 brands. Key categories include fragrances & cosmetics, tobacco, liquor, food, souvenirs, toys, electronics and fashion & accessories. Building on the principles of its parent company, Setur Duty Free aims to create added value for all stakeholders. That means an approach that combines world-class robust corporate governance, customer satisfaction and social responsibility practices. The company aims to reinforce its status as a “profitable, dynamic and leading company in the sector”, one with rich potential for growth.

Koç Holding at a glance

Turkey’s leading investment holding company

  • Turkey’s largest industrial and services group
  • Sustainability oriented business model focusing on profitable growth
  • Leading positions in sectors with long-term growth potential such as energy, automotive, consumer durables & finance

Stable and supportive shareholding structure

  • The Koç family has its own internal governance and investment vehicle, which provides stability in shareholder structure (Temel Ticaret)
  • Most of the Koç family business ventures are via Koç Group
  • Koç family mainly assumes board-level responsibility
  • One third of board members are independent
  • 26.5% free float with ~75% share of foreign investors
  • 21.1% CAGR in consolidated net profit over the last five years

Key principles

  • “We place customers first, rendering services that exceed their expectations”.
  • “We always aim for the sky. Sustaining the pioneering role we have acquired, we intend to be a leader in our field, maintaining our position by continuously refining our processes and setting an example for other organisations with our sound practices.”
  • “Based on the principle that the quality of our products and services stem from the quality of our employees, we focus on employee wellbeing, attach importance to employee engagement and emphasise team work.”
  • “Effective use of our resources, continuous increases in efficiency and delivery of ever-rising shareholder dividends are among our core principles.”
  • “We strive to develop a long-term and constructive cooperation with our suppliers. We believe that our supplier relations are of significant importance for making permanent and large gains in the long term, rather than small gains in the short-term.”
  • “We put honesty, compliance and work ethics above all.”
  • “We carry out and manage our activities in accordance with the methods and workflows defined in our Quality Management System documents, which have been created in line with the terms and principles of the ISO 9001 Standard.”

The company aims to reinforce its status as a “profitable, dynamic and leading company in the sector”, one with rich potential for growth.

Spotlight Series - August 2021

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