Categories
Politics

INEUK LTD

OUR MISSION/ BUSINESS MODEL

The INEUK LTD company’s objective is to offer quality fashionable clothing, accessories for a good price. INEUK LTD’s mission is to be the natural choice retailer in the UK for fashion wear for men and women who expect style, distinction and quality from their clothing. The aim of INEUK LTD is to meet or exceed customers’ expectations of INEUK LTD’s products and of INEUK LTD as a company by providing: Exciting, beautifully designed, excellent quality clothing that reflects the aspirations and means of their customers

As well as delivering to their Brand values, INEUK LTD is committed to ensuring that no-one should be harmed when their products are being made or whilst they are being used as they focus on; the quality of products, safety and fit for intended purpose products being fully comply with all legislation and their own standards where these go beyond legislation requirements products and their raw materials are sourced in a responsible manner encouraging customers to consider reducing their impact on the environment by offering information about lowering the temperature they use for washing clothes and how to dispose of products correctly. INEUK LTD is committed to operating a responsible and successful business, aiming to provide an inclusive high level of service to all their customers, shareholders, employees, suppliers, community and the environment at large. INEUK LTD amongst other fashion retailers has suffered sales decline due to the recession. However, they aim to carefully manage costs, whilst maintaining and retaining talent and skills to ensure a positive position within market and emerge stronger than before. INEUK believe in the importance of maintaining healthy relationship with communities in which they operate as well as work with charities to ensure their part in public welfare.

INEUK LTD we Know that the main difficulty in dealing with the complex world of fashion marketing is the issue of change because fashion, by its very nature is constantly changing and there is a further dimension of constant change in the business environment. INEUK LTD has emerged from a difficult year in good financial health, with solid net margins, a robust balance sheet, strong positive cash flow and secure financing.

 This is due to their marketing strategy as they make efforts to find out what customers wanted and tried to give it to them, because, the satisfaction of customers’ needs, wants and demands lies at the heart of the marketing concept, which is the strategy that enables an organisation to achieve its objective.

INEUK LTD is positioned firmly in the bottom to middle mainstream fashion market, targeting 25 – 45year olds who are fashion followers. INEUK LTD company logo is ‘INEUK’ in upper case letters which was updated in 2020/

INEUK LTD is one of the First UK clothing retailers offering stylish, good quality products in clothing, accessories which are only available in the UK through three main channels of distribution;

We want the store to feel like a high-end boutique. The fit-out will include men’s wear and women’s wear and we will be displaying key pieces from the new collection on mannequins in the window. We expect to have around 300+ people visit in

INEUK LTD has 2 Retail stores in the UK

INEUK Directory- a direct mail catalogue and transactional website with more than 2 thousand active customers

Other businesses in the INEUK LTD group include:

Sourcing, which designs, sources and buys other branded products; and

WWW.INVU.BLOG which provides customer services management to clients wishing to outsource their customer contact administration and fulfilment activities.

INEUK LTD makes use of standalone and shop-share stores in other cities to capitalise further on its existing product line and take a bigger slice of the large, growing UK value clothing market.

 INEUK LTD Has Influence on four types of culture, Power, Role, Task and Personal culture. INEUK LTD have a principal Board of committees which includes Audit Committee, Remuneration Committee, and Nomination Committee each of the committees with their own works in the company. This shows that they operate with Role culture where decisions are made by committees, structures, logic and analysis.

The External environment consists of opportunities and threats that are outside the organisation and are two types;

Task environment (micro): are factors that affects the organisation and affect itself by the organisation and these are shareholders, community, labour unions, creditors, customers, competitors and trade associated.

Social environment (macro): includes those forces that do not affect the short run activities but influence the long run activities or decisions of the organisation. They are governmental, political and legal, economic, social, cultural, demographic and environmental, and technological forces.

SWOT ANALYSUS ON INEUK LTD

Because there are a lot of suppliers, their influence over INEUK LTD are limited. A supplier could easily be replaced in a short period of time if they ask for an increase in the price, or make other better requests.

The only way to attract customers to buy a company′s product rather than the competitors’ is to add value, like label, style, price or quality to products since clothing is not very item specific. However, the customer spends his money and so has the most power to make the management cut prices to avoid losing sales, but from quality perspective, INEUK LTD stands out.

New competitors entering the market is a big threat to INEUK LTD especially the big label companies because they can enter the clothing market in a short period of time as they have capital, knowledge and the power to do so. However, there is a place for INEUK LTD, considering the brand posture.

Substitution is a threat but it is not a big issue in the clothing retail market so for INEUK LTD, the impact of substitute is limited since they offer almost all the brands.

Because there are a lot of clothing retailers in the UK which indicates a high rivalry between competitors. Consumers prefer companies with the best offer in respect to price, quality and services and so companies must cut prices to sell their products. INEUK LTD however has maintained trading at full price at all times, other than the traditional end of season and mid-season Sales and so might be at risk, but since they have maintained good quality and services, rivalry for them is very low and will not be a big issue.

MACRO – PEST ANALYSIS OF INEUK LTD

Political: The United Kingdom, is no longer Member State of the European Union does not have to fulfil stable political surrounding which is the basis for long-term decisions upon which the government has to act to achieve certain conditions. This has given INEUK LTD a higher scope of economic actions as well as being able to do trade and buy or arrange manufacturing in any country it wants making the profit margin a lot greater than it would have been dealing with only European union countries.

Economic: The current economic climate in the UK is very stable and this brings short term and long-term sales and customers in INEUK LTD which, in turn, make forecasting easier. In addition, the strength of Sterling against the US Dollar and the Euro, the main purchasing currencies, has brought further encouragement to their buying teams.

Social: presently, the UK population is high and a lot of tourists will be looking to come to UK and this means a lot of customers for INEUK LTD. On the other hand, sex education and rise in population of career women have brought about drop-in birth rate and so figures of INEUK LTD target group of 25 to 45 are declining.

Technological: Internet has given INEUK LTD a lot of potential opportunities to boost profits as customers can easily acquire clothing online without having to leave the comfort of their homes.

THREATS:

Over Crowded Market

There is a place for INEUK LTD in the clothing retail markets but not without competition. Costs rise and profit falls because even as the market is overcrowded, new entrants are coming in.

Decreasing Population of Target Group

INEUK LTD target age group which is 25-45 is moving out because new trends of smaller families are now dominating the baby makers of the fifties who are almost at pension age and as a result of this, sales in the next 10 years may be reduced.

Price offs

INEUK LTD intends to continue trading at full price at all times, other than the traditional end of season and mid-season Sales, this can hurt business seriously because if customers get used to discounts, they will not want to spend more on products in future thereby causing death for the market.

New Entrants

Despite the current overcrowded market, more fashion retailers still make entry. A company with a lot of capital and experience and can create economies with its brand and differentiated product, will create interest if entered the market.

Competition

Ineuk Ltd, which competes against Burberry, cashmere, added that, while customers continue to manage their credit carefully, it has started to see a year-on-year reduction in arrears on their INEUK LTD Directory accounts.

ANALYSIS OF 4Ps AND PLC, BGM, ANSOFFS

Position of product life cycle: INEUK have been much happier with the positioning and fashion content of product ranges and in particular the improvements to the women’s ranges. (INEUK next financial statement, 2009)

Product life cycle is very important as INEUK LTD anticipated a difficult year and set key objectives and continue to invest in their Brand. (INEUK next financial statement, 2021)

The growth rate of INEUK LTD in the UK market is increasing; INEUK LTD looks to be moving from a clothing retailer to agriculture (Food) incorporating a goods offer not just online, but also in its stores, although not without competition.

To INEUK LTD, growth rate is very important and so they have expanded so much since established in 2019, in addition to stores and a home shopping operation in the UK and TURKEY, the group’s franchise arm has 1 other partner stores overseas.

The market share of INEUK LTD is not as important as they concentrate more on the design, quality and value of product, together with excellent customer service and delivery. In March 2020, the market seems to fall even more due to global recession whereas INEUK LTD showing that its prices are not determined by the market trends but its set according to the value.

The percentage of new market: Directory sales–its catalogue-shopping and online business combined total brand sales for INEUK LTD retail and its directory business.

For INEUK LTD, new market is extremely important as they have begun placing orders later and keeping more spending back for shorter lead-time garments in order to keep pace with fast-changing fashion trends.

Percentage of new product: INEUK LTD is looking to increase the levels of newness within their ranges so that there are more new products for customers to see every six weeks. This change has been partly as a result of selecting product closer to season, boosting new trends with conviction.

Percentage of new products is very important to INEUK LTD; Fashion trends are changing all the time, and trends are getting into the stores quicker, introducing new product every season to meet up with consumer demands.

Quality, Style/Design: to INEUK LTD, these are very important and strong as we can see from the company mission statement.

Position and importance of decoration and location; updating of shop fit is an integral part of revitalising the Brand. The aim is that INEUK LTD merchandise is displayed in stores whose interior design reflects the design and quality of the clothing ranges.

Position and importance of stocks: INEUK LTD Stock for the end of season Sales across Retail and Directory was down 10% as a result of realistic budgets and much improved stock control.

Price level and value of INEUK LTD: INEUK LTD maintained its long-standing practice of providing customers with certainty over pricing and was one of the few retailers not to mark stock down in the run up to Christmas. Whilst they recognise that this will have reduced sales potential during this period, it allowed them to maintain margins and significantly reduce markdown costs year on year. (INEUK next financial statement, 2021)

Price level and value is very important to INEUK LTD as their strategy is to concentrate on design, quality and value of product together with excellent customer service and delivery believing it will serve them through recessionary period.

Financial report shows direct selling is very important and are well covered by it because although they have difficulties through the recession, they still made profit. (INEUK next financial statement, 2021)

To INEUK LTD, use of billboard and TV advert is important and they are looking to be covered well with it because in order to communicate the changes made to product ranges, they have increased both the effort and investment made in marketing the INEUK Brand. They will improve the quality of in-store displays, graphics and windows. In total, they will spend an additional £5000 on marketing in the year, most of this increase will go into press, billboard and TV advertising and windows (INEUK next regulatory news, 2021)

Categories
Politics

INVEST IN TURKEY

For many years Turkey has attracted foreign investment due to its unique trading location between Asia, Europe and the Middle East. Turkey is recognised globally as a country of significant importance, with many public and international companies opening offices in and around Turkeys’ major cities. The vast majority of these larger companies base themselves in Istanbul and Ankara.

Why set up a business in Turkey?

Recent legislation to promote foreign investment means it’s easier than ever before to set up a business in Turkey. It’s easy to see why Turkey appeals as a destination for new companies: half its 80-million strong population is aged under 30, and they’re increasingly educated and solvent, with cash to spend. Banking and communications infrastructure has improved vastly, and trade links with Europe and the Middle East have strengthened significantly. 

Recent government incentives for investors and new businesses include: 

  • The right for foreign companies to hold “Turkish Company” status, giving new business owners the same rights and obligations as existing Turkish companies;
  • Guarantee of existing investment rights;
  • Conformity with international standards;
  • Changing the definition of a foreign investor to include companies registered outside the country, non-Turkish nationals and Turkish nationals living outside the country;
  • Imports of certain machinery and equipment are now exempt from customs duties, levies and VAT; 
  • Certain exemptions from income tax and social insurance contributions;
  • Energy subsidies;
  • Incentives available in Turkey’s free trade zones, including exemptions from a number of taxes and customs duties;
  • Better protections for foreign investors.
  • As of 2018, it is possible for business owners to gain citizenship in Turkey. Skip to the bottom of the page to find out more.

So, how do you set up a business in Turkey?

If you are considering setting up any business in Turkey there are a number of options available. First, you will need to seek some solid legal advice and do your research with the relevant authorities. Collective companies, joint stock companies, commandite companies (business set up to run under a trade name), liaison offices and the set up of a branch of an existing foreign company are all options foreigners can consider. However, in this article we are focusing on the relatively easy and more manageable – and therefore, most popular – set up of a private limited company.

Can foreigners open a private limited company in Turkey?

Yes. A private limited company is the most popular form of business for foreigners and can be set up by two or more non Turkish nationals. At least one shareholder is required to form this type of company, with a minimum share capital of 10,000TL.

Where can I seek advice on setting up a business in Turkey?

The first port of call for many is their lawyer. Be sure to employ the services of a good legal advisor that knows company laws in Turkey and has previously helped expats set up successful businesses. In addition, the following all have current and up to date information and are the basis of much of this articles information:

  • The Turkish Embassy
  • British Chamber of Commerce Turkey (BCCT)
  • The Turkish British chamber of Commerce and Industry (TBCCI)

Should I use a company formation agent?

Similarly to the UK, there are a growing number of company formation agents advertising services in the local press and found in most towns and cities. Many expats  choose to go down this route as it can save time and hassle if you find a good agent. If you are considering using one then research them first and find out what other expat companies they have helped set up. As with everything, some of these companies are far better than others.

What kind of business can a foreigner set up in Turkey?

Most expats tend to set up businesses that are in some way connected to tourism or servicing the needs of other foreigners. Bars, restaurants, hotels, holiday letting companies, estate agencies, shops and maintenance companies seem to be the norm and are generally easy for foreigners to organise and run. There are a number of businesses that foreigners cannot open in Turkey without prior approval from the Ministry of Commerce and Industry. These include banks, factoring, private finance institutions, foreign currency exchange offices, companies subject to Capital Markets Law, public warehousing and operators of free-trade zones. Check with your lawyer and authorities in advance if in doubt.

What does the set-up of a Turkish limited liability company cost?

Legalities and costs of business set-ups in Turkey differ from the UK and most other countries. A private limited company costs a total of 10,000TL, which will need to be deposited during the initial phase of the incorporation.The liability of the shareholders is limited to the share capital invested in the company.

What is the set-up process?

The company incorporation process in Turkey is relatively straightforward, and the investor will be able to begin trading within a week, as long as they have everything in order. 

The first task is drafting the articles of association, which need to be signed by the company directors. The articles of association must be drawn up legally and conform to article 279 of the Turkish Commercial Code. The document needs incorporate the phrase “limited” in the companies trading name. Founders need to state their nationality, full names, surnames, addresses, and trading address. The document is then taken to be officially notarised and translated where necessary.

The minimum share capital must be deposited in a bank account in the company name. After this, investors can begin the registration process, paying a fee to the Turkish Commercial Registry Office, with the necessary documents. The Registry Office will issue a registration certificate and the company’s incorporation is published in the Turkish Gazette. The company must then register for VAT with the relevant tax authority.

Turkish laws regarding trading names

Your trading name must be original and not registered by anyone previously. It should not mislead third parties and the words “Turkiye; Turk; Cumhuriyet; Milli” cannot be used without the specific approval of the Turkish Council of Ministers. Foreign words and titles can only be used in the trading name if they do not contradict any government or cultural laws or policies.

How to register your Turkish company with the Trade Registry Office

The Turkish Chamber of Commerce has offices throughout Turkey in all major cities and most towns. Having filled out your Articles of Association and had them officially notarised, contact them within 15 days to organise the official trade registry. On registry you will need your filled in company registration application form, your written request for application, suitable identification proving you are the founding members, a letter of commitment in line with Article 29 of the Trade Registry Regulations, and a receipt of payment of the deposit necessary to the Customers Fund Account (normally 1/1000 of the company’s capital). This perhaps sounds more daunting than it actually is but to avoid lengthy waits and unnecessary confusion, be sure you have adequate legal knowledge or assistance and speak, read and write sufficient Turkish. In most cases it is best to take a native speaker with you. Once registered, your business can start trading.

Ongoing Trading and Taxes

A private limited company set up and resident in Turkey will have to pay full tax on profits earned and declared. In addition you will need to employ the services of an accountant and keep in mind that accountants do operate differently here in Turkey than in the UK and normally charge a monthly fee that, in some cases, can seem costly for doing relatively little some of the time.  Laws and taxes do change regularly so please seek the advice of a good accountant before setting up your company.

Overall Tips and Advice

Do your homework. Before thinking of setting up any company in Turkey make sure that you have done your research. Speak to other expats in business, your lawyer and an accountant to assess if it really is a viable option or if you are better off investing elsewhere. You hear many horror stories from expats that have opened shops, restaurants and companies that have failed and ended up with a company that is difficult to wind up as a result. Be sure that your idea is a winner!

Draw up your business plan. Have your goals and expectations clearly set out before establishing your company. Research the set-up and ongoing costs of running the business (accountant fees, marketing, taxes etc.) You are unlikely to be asked to show a business plan in Turkey but it will make you thoroughly review and consider your venture.

Language Barriers. The process and paperwork needed to set up a business in Turkey will be in Turkish so be sure you understand the language sufficiently, or have the services of a trusted Turkish speaker on hand every step of the way, to help you.

Citizenship by investment for business owners

Since 2018, there’s an added incentive for anyone wishing to set up a business in Turkey. The Turkish government is now offering citizenship to anyone investing $250,000 in Turkish property. For business owners this will cut out a lot of red tape. More reading: Turkish citizenship by investment guide.  

As well as buying property, there are other options for entrepreneurs to gain citizenship:

  1. Provide employment for at least 50 people in Turkey
  2. Make a fixed capital investment of at least $500,000;
  3. Deposit a minimum of $500,000 into a Turkish account;
  4. A venture capital investment fund worth $500,000.

Please Note: Although we have researched and tried to give you accurate advice, please remember that this information should not be taken as legal advice and is intended for guidance purposes only.

Categories
Politics

OUR BLOG


TOGG S.U.V

Eye-catching Exterior Design#

Inspired by Anatolian Culture

The modern and original design was inspired#

Simple and Stylish Interior

You will enjoy long journeys in the wide interior

Original

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It is a high-tech, inherent electric and connected platform, developed by TOGG engineers and all intellectual and industrial property rights belong to 100% TOGG.

Modular

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 Able to meet the maximum efficiency, comfort, durability and security requirements together; modular architecture that allows different widths and lengths. 

Superior

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 The infrastructure that maximizes the width, spaciousness and comfort of the living space in the car by offering the longest wheelbase in its class. 

Fully Electric Drive

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 With the advanced Lithium-ion battery technology, the energy to take you wherever you want is always ready. 

500+ Km Range

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 You will be able to choose the battery configurations that best suit your needs among the battery configurations that provide 300+ km or 500 + km range, and you will be able to plan long journeys as you wish with the range provided by the high-energy Lithium-ion battery technology. With a 100% charge, you will be able to reach your relatives in Izmir from Istanbul or your holiday home in Antalya from Ankara with a continuous travel. 

Fast Charge <30 Minutes

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 Thanks to the widespread charging infrastructure that we will lead the development of, you will charge your car at your home, office or stations on your way, and you will reach 80% battery charge level in less than 30 minutes with fast charging. You will be able to take a short coffee break on long journeys and continue your route by charging both yourself and your car. 

Geniuses involved

M. Rifat Hisarcıklıoğlu

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Union of Chambers and Commodity Exchanges of Turkey

TOGG Chairman of the Board

Tuncay Özilhan

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Anadolu Group

TOGG Vice Chairman of the Board 

Taha Yasin Ozturk

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TOGG Vice Chairman of the Board

Kamilhan Suleyman Yazici

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Anadolu Group

TOGG Board Member

Bulent Denkdemir

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TOGG Board Member

Inan Kirac

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Root Group

TOGG Board Member

Okan Bas

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Root Group

TOGG Board Member

osman yilmaz

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Turkcell

TOGG Board Member

izzet serhat demir

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Turkcell

TOGG Board Member

ahmet nazil zorlu

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Zorlu Group

TOGG Board Member

bekir cem koksal

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Zorlu Group

TOGG Board Member

ABOUT US

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Advanced Driver Assistance Systems

Advanced Driver Assistance Systems

With advanced driver assistance systems and urban traffic pilot, “Level 2+” autonomous driving will ease your burden in traffic.

Continuous Improvement

A ready-made infrastructure suitable for “Level 3 and beyond” autonomous driving transformation, thanks to the architecture designed by TOGG engineers. With the updates you will make over the internet, you will be able to continuously improve your car with the most advanced technology.

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User Focused Technology

The digital infotainment screen, which embraces all passengers, provides both easy tracking of information and visibility of passenger-specific content. With the user-centered interface design, you will be able to easily use high technology and increase your driving comfort.

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Eye-catching Exterior Design

The distinctive and sharp lines in the exterior design reflect the robust and powerful character of the car. The eye-catching chrome details that shape the original front design complement the prestigious look by providing continuity in the side and rear design.

TOGG S.U.V

Intellectual owned by Turkey’s intellectual property rights, a car brand creation Anadolu Group with the aim to compete on a global scale, BMC, Root Group, Turkcell, challenging and Turkey Chambers and Stock Exchanges joined forces of the Union of 25 June 2018 Turkey’s Automobile Enterprise Group Industry ve Ticaret A.Ş. (TOGG).

As TOGG, we develop a new generation of electric and connected cars and create a mobility ecosystem around these cars. Thanks to this ecosystem, we aim to facilitate the lives of large masses and contribute to a clean future by zeroing harmful emissions.

In 2022, we will set out with a mid-size (C segment) “sportive multi-purpose car (SUV)”, which is inherently electric, connected and has the current autonomous level. Within the ecosystem we have built around our smart and connected car, we will develop new services, new user experiences and new business models. We will ensure the emergence of new ideas and technologies with our business partners and startup companies that are sprouting around us.

Turkey’s curiosity, as soon as possible how much our responsibility as members of one of the most exciting projects to exceed the expected life I know it’s big.

We set out to realize a big business that we have been dreaming of for many years. At the stage of determining our strategy, we analyzed the main trends affecting automotive and examined many cases from all over the world that were successful or not. In these examinations, we saw the signs of the great transformation in automotive and decided that we should not only produce cars, develop brands, but do more than cars. More than an automobile means a world of mobility, in which electric and connected cars emerge, transforming the automobile into a third living space after our home and work, increasing the level of autonomy, reconsidering the concept of car ownership and emerging new services. This world is open to new ideas that need to be constructed as an ecosystem in itself,

We unveiled our preview vehicle at the ‘Journey to Innovation Meeting’ that we held in Informatics Valley on December 27, 2019. We will complete our factory in the next two years and launch our first product, an SUV in the C segment, at the end of 2022. Until 2030, we will develop our product range and meet different needs with 5 models.

With our project, we will contribute a total of 50 billion Euros to GNP and 7 billion Euros to the current account deficit within 15 years from 2022, and employ 20 thousand people, 5 thousand of which are directly.

I would like to thank all of you in advance for not leaving us alone and supporting us on this extremely challenging and challenging journey.