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İTO Retail Committee President Altun: We have reduced prices as chain supermarkets

Istanbul Chamber of Commerce (ITO) Retail Committee President and Happy Center CEO Yavuz Altun announced that they have reduced prices as chain supermarkets.

Altun stated in a written statement that inflation started to decrease from December due to base effects, and he expected inflation to decrease rapidly with the new year. Altun added the following: "In parallel with this decrease in inflation, retail prices will also decrease. As the committee president, I have spoken with chain supermarkets, and all of them confirmed that they will reduce prices. As a sector, we will offer all the support we can to our people. As Happy Center, we have reduced prices on food and non-food products, and the discounts will continue every day. Starting with the new year, we have reduced the label prices of food and non-food products by 10 to 20 percent. We may make further reductions in meat and dairy products depending on supply. As inflationary pressures decrease, we want to reflect these discounts on all products, especially food. However, we are determined to reflect real discounts to our people, avoiding populist statements like 'we will reduce prices on these products'." Minister of Trade Mehmet Muş recently met with the senior executives of national chain supermarkets and made warnings regarding label prices after the minimum wage increase.

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Turkish business world making a move in Kyrgyzstan: Commercial relations to be strengthened

A Turkish business delegation is making a visit to Kyrgyzstan on February 27. The delegation, led by businessman Yavuz Altun, is a special invitation of Kyrgyzstan’s President Sadir Japarov. They will discuss cooperation and investment topics until March 1.

The Turkish business world is heading to Kyrgyzstan with the special invitation of President Sadir Japarov. The visit will start on February 27 and last until March 1. During the visit, a summit will be held to assess Kyrgyzstan’s investment potential and cooperation opportunities. The delegation includes prominent business figures such as Ahmet Altuğ Oğuz, CEO of Tüm Ekip İlaç, Osman Çalışkan, Vice President of MÜSİAD and CEO of Öncü Group, Tayfun Küçükoğlu, General Manager of Betek Boya, Ender Karvar, CEO of Nezih Kitabevi, Özcan Arkan, CEO of Arkan Group Health Products, Mutlu Alkan, Managing Partner of Bemes Yapı İnşaat Turizm ve Danışmanlık, Cemal Akkan, founding partner of Martek Soğutma Sistemleri, Murat Ayrancı, CEO of Saha Robotics, Nilüfer Çevikel, former President of TÜGİAD and Chairwoman of Nil-San Textiles, Mehmetalp Günalp, CEO of Malpex Agriculture and Automation, Zafer Hancar, CEO of IGL Group, Burhan Başar, CEO of Kervan Gıda, Yener Helvacioğlu, Export Manager of Seyidoğlu, Bekir Ateş, President of Bayrampaşa Textile Entrepreneurs Association (BATİAD) and owner of Ateş İplik, Ahmet Çağman, CEO of Winix Group, Haldun Pak, President of the CEO Platform and CEO of Rasyotek Group, Ziya Kızıltan, CEO of Oniki, and Umut Şenol, CEO of Objektif Kentvizyon. The delegation of 53 businesspeople will be led by Yavuz Altun, CEO of Happy Center and President of the ITO Retail Committee.

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Yavuz Altun reveals the secrets of the ‘Exponential Growth Strategy’

In his book titled *Exponential Growth Strategy*, Yavuz Altun, CEO of Happy Center Market, compiles the stories of those who have changed and developed and those who have disappeared by growing. He explains that focusing only on growth is not enough.

Yavuz Altun, CEO of Happy Center Market, has participated in many seminars in countries such as the UK, the USA, and Mexico, where he gave presentations. He compiled these presentations into a book called *Exponential Growth Strategy*. The strategy focuses on responding to change rather than solely on growth. Altun draws attention to the fact that people in business or companies focus on growth instead of change. The book answers the question “Change or growth?” using examples from many countries around the world. The book, published by Peta Publishing, aims to open doors for both individuals and institutions. The book, published in English under the title *Exponential Growth Strategy*, has a foreword by Raymond Aaron, a New York Times bestselling author. In the book, the author emphasizes the importance of change by stating, “When you choose to focus on growth instead of change, even if you discovered the industry, your end will be like Nokia, the Swiss watch industry, Kodak, Blockbuster, Sears, and you will be forced to exit the game.”

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Yavuz Altun's book published: Exponential Growth Strategy

Yavuz Altun's book "Exponential Growth Strategy" has been published by Peta Publications. Here is the back cover text of the book:

Human beings love ideas coming from their youth, and these ideas eventually turn into habits. Once they become habits, they prevent a person from finding the truth and catching up with change. This process generally continues the same way for institutions as well. Due to the habits they develop over time, organizations fail to see the truth. This situation sometimes turns into ego, sometimes into discouragement, and sometimes into arrogance or capriciousness.

The question is: Should we respond to growth or change? Growing for the sake of growing is the ideology of a cancerous cell. Of course, the secret here is change; change that comes with enthusiasm, desire, and effort at every stage… And no one can stop this change. While everyone is looking at the ball, you should focus on the field, on that area.

While everyone focuses on the ball, you should look at where the ball is going. Focusing on the unseen is the first and essential condition for change.
Thinking inside the box is not the same as thinking outside the box or imagining that there is no box. If you think you have nothing, you can free yourself from all the factors that limit you and start the change and innovation.

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“We are growing Happy Center and making startups smile”

Happy Center, with its 193 branches, is one of Turkey's major retail companies. The company, which holds the patent for the smiling face emoji, was founded in 1988 by the Altun Family, who were originally in the hardware and stationery business in Tahtakale. Currently, Happy Center hosts 6 million customers monthly, with Yavuz Altun at the helm as CEO. Since the new generation came to power, Altun has stated that they have become more closely integrated with the digital world. After graduating with a degree in industrial engineering, he completed a master's degree in business administration at Thames Valley University in England. Then he attended Harvard University's Executive MBA program. While working to expand Happy Center, Altun is also known for his investments in startups. Having published two English books on entrepreneurship, Altun has a strong following in the international investment and entrepreneur ecosystem. Altun, who is a graduate of the Investor Club Program established by the Istanbul Chamber of Commerce (ITO) to support entrepreneurs in Istanbul, states, “We have the potential to produce a unicorn from the remotest corner of Turkey. We have a serious human resource that is curious and follows the global trends.”

“MY SON RECOMMENDED IT, 1 MILLION DOWNLOADS”

Altun, who discovers young entrepreneurs in Turkey and invests in them, has seen a surge in demand from abroad for local software and products developed by 8 Turkish entrepreneurs he invested in. Investing in startups he sees potential in, Altun provides mentorship, marketing, and leadership support, helping these ventures grow in both Turkey and abroad. One of Altun’s investments, Restajet, which offers end-to-end solutions for restaurants, is now being used in over 1,000 restaurants, including global giants like Pizza Bulls and Midpoint. The local software, which is exported to over 20 countries, is soon to expand to Japan. Nolossnowaste, an environmentally friendly packaging producer that eliminates plastic usage, is already part of the product range of many companies in both domestic and foreign markets. Alfucode, a gaming company that allows virtual 3D exploration of a city without visiting it, made great achievements during the pandemic. The game Happy Can, developed within the Happy Center by Altun’s 12-year-old son Ali Cevher, has been downloaded 1 million times so far.

HAPPY BRANDS ARE SOLD TO MORE THAN 40 COUNTRIES

Yavuz Altun explained that they serve 6 million customers per month with Happy Center: “We have an online shopping platform called Happy.com.tr, through which we sell products in 81 provinces. With our HappyClean brand, we export non-food products, and with HappySweet, we export food products to more than 40 countries.”

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“It’s hard to catch up with the exchange rate rally, consumers are reacting to price hikes”

Exchange rate increases and rising inflation are increasing input costs in retail. Yavuz Altun, Chairman of the ITO Retail Committee, stated that the price hikes are being reflected on the shelves, saying, “No one can catch up with the exchange rate rally. When the price of a product on the shelf changes, consumers get angry with the retailer,” he said.

As of today, the food retail sector, which provides employment for over 500,000 people and has 250 chain stores, continues to see price hikes as a point of contention. Rising inflation continues to be a major issue for both the retail sector and consumers.

As the market prices increase due to the exchange rate, consumer spending is also rising. Yavuz Altun, Chairman of the ITO Retail Committee and CEO of Happy Center, said, “We have an import-based economy. There was a minimum wage increase. With the rise in exchange rates, there are increases in energy and logistics costs and labor expenses.”

Businesses must position themselves ahead of these hikes, or they will not survive. Therefore, I refer to this exchange rate increase as an “exchange rate rally.” No one can catch up with this rally. When input costs increase, consumers automatically see this reflected on the shelves. When consumers see that product prices are changing constantly on the shelves, they get angry at the last parties involved,” he stated.

"We must work with suppliers to sell at affordable prices"

Altun, who noted that they are conducting sectorial work as retailers to combat inflation, said they are working on optimizing areas related to variable costs and productivity.

He emphasized that in an inflationary period where prices are constantly rising, it’s essential to work with suppliers to offer affordable products to consumers. “If you don’t have supplied products, you won’t be able to sell at a reasonable price,” Altun said. “You purchase a product, and the price changes before it even reaches the shelf. If you don't have supplied products, you won’t be able to sell at an affordable price,” he concluded.

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Happy Center General Manager Yavuz: Supermarkets should be closed on Sundays

Happy Center General Manager Yavuz Altun stated that small tradesmen also need to breathe, and they are working on making supermarkets closed on Sundays.

As of today, Happy Center, which provides employment to over 500 thousand people and has 250 chain stores in the food retail sector, continues to be a topic of debate due to ever-increasing prices. Rising inflation remains a problem for both the retail sector and consumers.

DUVAR - Happy Center, which has 200 stores in 5 cities, primarily in Istanbul, has started working on going public. General Manager Yavuz Altun stated that discussions are ongoing with two intermediary institutions, and if there is no change in the economic conditions, they plan to go public in 2023. Altun also emphasized that supermarkets should remain closed on Sundays to help small tradesmen stay afloat.

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Happy Center, on the way to the stock market

Happy Center, one of Turkey’s largest local supermarket chains with 200 stores, has started working on going public. General Manager Yavuz Altun stated that they plan to go public in 2023, if there is no change in the economic conditions.

Happy Center, which has become one of Turkey’s largest local supermarket chains with 200 stores across 5 cities, has started working on going public. General Manager Yavuz Altun stated that discussions are ongoing with two intermediary institutions and that they plan to go public in 2023, provided that there are no changes in the economic environment. Altun also emphasized the importance of transparency and corporate governance in this process.

The company has planned both organic and inorganic growth in the upcoming period. Happy Center, which has acquired several local supermarket chains in the sector, also took over the old Rammar stores two years ago. Regarding this process, Yavuz Altun said: “Two years ago, we came together with our former partners. We acquired 40 stores from them. Now, we have reached a total of 194 stores, ranging from 500 square meters to 5,000 square meters, in 5 cities, including Istanbul, Kocaeli, Bursa, Balıkesir, and Çanakkale.”

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Happy Center General Manager Altun: Chain stores should be closed on Sundays, and grocery stores should stay open

Altun stated that Happy Center plans to go public in the stock market

Chain supermarket CEO’s surprising statement: Only sell in grocery stores

Happy Center CEO Yavuz Altun suggested that chain supermarkets should be closed on Sundays and only small grocery stores should remain open. He also proposed that products that bring traffic, such as tobacco products, should only be sold in these stores.

Happy Center, one of Turkey's largest local supermarket chains with 200 stores in five cities, has started working on going public. General Manager Yavuz Altun stated that discussions are ongoing with two intermediary institutions and that they plan to go public in 2023 if there are no changes in the economic environment. Altun emphasized the importance of transparency and corporate governance in this process.

Happy Center CEO Yavuz Altun, who is also the Chairman of the Retail Committee of the Istanbul Chamber of Commerce (İTO), stated that supermarkets have been discounting prices, and there are problems in the supply of meat and dairy products. He proposed that all chain supermarkets be closed on Sundays, and that tobacco products should only be sold in small grocery stores to help small tradesmen.

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İTO Retail Committee Chairman Altun: Chain Stores Should Close on Sundays

Happy Center CEO and Istanbul Chamber of Commerce Retail Committee Chairman Yavuz Altun suggested, "To allow small tradesmen to breathe, chain stores should close on Sundays, and only small tradesmen should stay open. Additionally, products that will create traffic, like tobacco products, should only be sold in these stores."

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Yavuz Altun: "Chain Stores Will Discount"

Istanbul Chamber of Commerce (ITO) Retail Committee Chairman Yavuz Altun said, "In parallel with the decrease in inflation, retail prices will also decrease. As the committee chairman, I met with chain stores, and they all confirmed that they will offer discounts. As a sector, we will provide all the support we can to our people."

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Happy Center Acquires Rammar! Reaches 192 Branches!

After acquiring 40-branch Rammar supermarkets, Happy Center has reached 192 branches, becoming the largest local chain in Turkey. Following this strategic acquisition, they aim to rank among the top 3 in the largest league, which includes national and discount chains.

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BTM Initiative Bosforas Receives 2.7 Million TL Investment with a Valuation of 22.5 Million TL

Yavuz Altun, Chairman of ITO Retail Committee and Member of Parliament, invested 2.7 million TL in BTM's Bosforas initiative, which has a valuation of 22.5 million TL. Bosforas is one of the initiatives of the Bilgiyi Ticarileştirme Merkezi (BTM), established by the Istanbul Chamber of Commerce (ITO) to support entrepreneurship. Bosforas operates as a B2B e-commerce platform providing logistics and technology-supported solutions, aiming to facilitate and develop B2B trade in Turkey and various countries. The company helps manufacturers, distributors, and wholesalers to reach broader audiences and geographical areas through digital marketing and new-generation communication tools.

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Ultegra, Providing Infrastructure Services to Businesses, Receives Investment from Yavuz Altun

Ultegra, which provides infrastructure services to businesses, received investment from Yavuz Altun following its presentation at the Entrepreneur Stage organized by the Eastern Mediterranean Development Agency under the "Ultra Fast Digital Trade’s New Name" slogan.

Ultegra, a local initiative entering the digital trade sector with the slogan "Ultra Fast Digital Trade's New Name", received an investment from Happy Center CEO Yavuz Altun after their 4-minute presentation at the Entrepreneur Stage. Ultegra offers all the components businesses need for trade in one software, ranging from e-commerce infrastructure to marketplace integration, order/stock management systems, central inventory management, payment infrastructure, e-invoice systems, and all trade-related processes, providing businesses with solution-oriented answers to their problems. Why is this important? Editor's Note: The first impression in startup presentations to investors is crucial. Clear and understandable presentations make it easier for entrepreneurs to secure investment. If you present the problem and solution clearly and show how you will generate revenue, sometimes quick results can be achieved in those presentations. The investor, Yavuz Altun, the CEO of Happy Center and author of the "Exponential Growth Strategy" book, which is available in both Turkish and English, decided to make a 7-digit investment in Ultegra after their presentation. The parties have agreed to keep the investment amount confidential. However, we know that at least 1 million TL was invested. Founded by Osman Okan, Ömer Faruk Akaryıldız, and Duygu Erim in 2019, the company was created by evaluating the sector and Turkey's realities based on the founders' firsthand e-commerce experience. Business owners, who previously had to source components from different companies and face issues in identifying the source of problems while incurring high costs, can now ensure a fast, secure, and hassle-free digital trade experience through Ultegra, eliminating extra costs from third parties. Additionally, Ultegra’s optimized and automated processes ensure up to 50% greater business efficiency.

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