We are very proud to announce you that LSL is expanding its business in Turkey…
We are embarking in a new journey by opening LSL office in Istanbul, but also we are launching IFA Paris Istanbul in providing its 2 most reputable MBA in Fashion Business and Luxury Brand Management. After some research, the choice of Istanbul was obvious and in this article we would like to shortly present you the advantages in studying in Istanbul, a very promising city …
Turkey, with its emerging economy, the strength of its demographics, the booming of its industries and its strategic geographical location was an obvious choice for IFA’s expansion plans.
Turkey is a country with a rich background with a remarkable 10,000 years of history. The cradle to 12 different civilizations, Turkey has always been a curiosity and point of interest not only to its neighboring countries, but also to the rest of the world who are intrigued by its culture, economy and lifestyle.
Characteristic of this emerging market:
An increasing number of foreign companies are highly investing into the Turkish economy. Recent government policies encourage entrepreneurship and productivity. A part of the economy is also driven by start-ups with an average age of 27.
The textile industry is part of the Turkish history and this sector is one of the most powerful in the world: it is not only a generator of economic activity, but also the country ranks among the leading exporters globally.
Cross road between Asia, Europe and the Middle East, students will experience an international and rich lifestyle. An influence of all the horizons – discover in one place, what you could discover in 3 continents.
From a political and social perspective, Turkey is a stable country.
Characteristic of Istanbul and its location:
Population: 13.5 million people.
Melting pot of cultures, traditions, and lifestyles taking roots in Byzantium and Constantinople. Only three hours from most destinations in Europe, 10 hours away from China and US, it is a real hub and cross road for international passengers.
Characteristic of fashion industry in Turkey:
Textiles and clothing represent 6-7% of the total Turkish GDP – these are the cores of the economy.
40,000 textile and clothing companies in Turkey with a workforce of 750,000 employees
Istanbul is the land where local designers are born and convey their touch of unique Occidental – Oriental / old – meets – new / East – meets – West roots. Istanbul became a leading fashion and shopping center due to both foreign and local investments recently. As mentioned above, the main clientele for fashion and luxury brands are not only the locals and expats living in Turkey but also the tourists coming in Istanbul only for shopping.
As a global sourcing hub for both Asia and Europe, Istanbul attracts a number of international buying offices, trading houses and major retailers.
The city of Istanbul organizes yearly two Fashion Weeks where local and international talents come to expose their creations.
Characteristic of luxury industry in Turkey:
Istanbul is a popular and hip city: first for travelers, second for foreign luxury companies.
The main reason is the increase of Turkish flight connection with the rest of the world and Istanbul improved its premium position with the opening of international luxury hotels such as Shangri La, Raffles, Kempinski, etc… The city is also attracting a clientele coming from Azerbaijan, Russia and the Gulf Region. The Turkish middle class and its income are growing which allow them to purchase luxury goods and services.
According to the figures, Istanbul concentrates 80% of Turkey’s luxury market for all luxury sectors in fashion, accessories, jewellery, watches, hotels, cars and real estate and 40 modern shopping centres opened over the past two decades: Kanyon (www.kanyon.com.tr) Istanbul’s most popular malls, Akmerkez (www.akmerkez.com.tr) Istanbul most stylish mall – Beymen (www.beymen.com) the popular Turkish department store, which welcome both international and luxury house brands.
Early 2013, the Festival Colbert has been organized in Istanbul and allowed the visit of “Comite Colbert” who highlighted their wish to promote the French luxury brands in Turkey. This statement has encouraged French luxury houses to channel their investments towards this country.
The committee’s head Elisabeth Ponsolle des Portes told during a Paris press conference that: “Turkey is taking on a more and more important regional role,” – “The country, and especially the city of Istanbul, is becoming a regional trendsetter and French luxury brands in Turkey have seen their turnover grow by an annual average of 30 percent over the last five years.”
Advantages for students:
The few trends mentioned above explain the need for the Turkish market to attract more and more luxury players and professionals to sustain this sector. Studying luxury in Turkey will immerse students into a booming and fast changing industry while allowing them to meet the influencers and high players of Fashion and Luxury sectors.
Discover a new facet of Istanbul as a fashion city where unique trends are created and start to influence the rest of the world. For Fashion brands, Turkey is a key destination where to increase their power and recognition.
Istanbul remains comparatively cheaper than any other European cities and the cost of living is less than other large cities like London or Paris. Commuting is easy thanks to fairly new subway lines and taxis are more affordable than Europe. It’s also easy to explore surrounding areas and you can take ferries from the Bosphorus. There are several accommodation possibilities and one can share an apartment at the heart of the city or stay at a residence to enjoy serviced apartments at reasonable prices. A maximum of USD 1000 will cover your accommodation, F&B and transportation expenses.
The relatively weak Turkish currency against Euro or US dollars has a positive impact in the living standards of the students.
Istanbul is attracting international students from around the world and particularly from Europe thanks to the Erasmus programme. This contributes to the city’s international exposure and it is one of the best environments for students to grow and merge with new cultures.
Characteristics of BÜYEM (university partner in Istanbul):
High reputable university created in 1863 contributing to the institutionalization of science, art and culture in Turkey and abroad – promote a green and sustainable educational life. In addition to IFA Paris MBA diploma, students will receive a certification delivered by BUYEM – Certification highly recognized not only in Turkey.
BÜYEM is the lifelong learning center of the reputable BOGAZICI UNIVERSITY, which is ranked among the top 200 universities worldwide by the Times Higher Education World University of 2013/14.
We offer a pool of instructors comprising entrepreneurs, practitioners, well known public figures, associate professors and full professors with high experience in both fashion and luxury markets.
So, are you convinced now ? 😉