We Like Discount Retail

We believe that fundamentally speaking, the long-term prospects for growth in Turkish discount retailing are fantastic. Dubbed the 'Turkish Aldi' by some in a complementary reference to the German discounter, we really like the prospects of Turkey's BIM Birlesik Magazalar in particular. Its annual sales have grown at an average of more than 30% in the past few years and it operates more than 2,500 stores in the country. There are huge opportunities for growth in food retail, with so much of the population still under-retailed.

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