Vestel attracted attention with its new products themed around technology and sustainability at the IFA 2024 fair held in Berlin. While IFA, one of the important fairs in the electronics and white goods sector, serves as a showcase for companies, Vestel used this platform to showcase its innovations focused on sustainability in particular. The company presented its products in various categories to visitors at its spacious three-thousand-square-meter stand. This year’s participation is also considered an important turning point in terms of Vestel’s growth targets in the international arena.
At the press conference held as part of IFA 2024, Vestel CEO Ergün Güler explained the company’s growth strategies in both local and global markets in detail. Güler stated that within a year of taking office, Vestel had developed its hardware, software and design-oriented strategy and managed to steadily increase the company’s brand value. It was announced that Vestel aims to double its company value with increased productivity and turnover growth in the next three years. It was emphasized that in line with this goal, the company will invest in new business areas, increase its market share in different geographies and grow with licensed brands.
Vestel’s global market strategies and sustainability studies
Vestel’s sustainability strategy was particularly prominent in the products exhibited at the fair. The company introduced not only its state-of-the-art products but also its products made from sustainable materials. Vestel’s approach to environmental sustainability has been integrated into all of its R&D and design processes. In addition, within the scope of the collaboration with Biolive, the use of bioplastics obtained from olive pits is offered as a solution that significantly reduces plastic consumption. With this new material, Vestel aims to reduce its carbon footprint and minimize the use of petroleum-based plastics.
Sustainability includes not only environmental but also social responsibilities. In this context, Vestel invests in projects that support female entrepreneurship and continues its work on gender equality with the support it provides to female athletes. Vestel’s collaboration with initiatives such as Biolive is proof that the company sees sustainability not just as a concept but as a fundamental element of its business processes.
Vestel’s global growth targets also include plans to expand into new markets. Although the company has a strong position in Europe, it also plans to enter rapidly growing markets such as North America, Africa and the Gulf States. It is thought that the changes in the supply chain in these regions will have a positive impact on Vestel’s strategic plans. In particular, the decrease in dependency on the Far East and the emergence of concepts such as friendshoring may lead manufacturers like Vestel to gain competitive advantage in different markets.
New licensed brands from Vestel and store openings in Europe
Licensed brands have an important place in Vestel’s global growth strategy. License agreements with world-renowned brands such as Toshiba, Sharp, and Telefunken allow the company to have a stronger presence in international markets. Vestel aims to reach a wider audience in these markets by managing the design, production, and marketing processes of these brands. It is known that this strategy has made a great contribution to the successes achieved in Europe.
The company has accelerated its digital and physical store openings in Europe this year. The “Vestel Express” store opened in Berlin, the capital of Germany, is part of Vestel’s goal to strengthen its presence in Europe physically. The company aims to offer Mediterranean designs to German consumers with this store, and also appeals to a wide customer base through its online sales channel. With the online store that has opened in Germany, Vestel plans to reach consumers all over the country and offer its wide range of products.
The services offered through Vestel’s first online store in Europe include after-sales services such as free shipping, assembly and additional warranty. These services are considered as an important step taken by the company to transfer the customer satisfaction-focused strategies it implements in Turkey to the European market.
Growth and technological investments in mobility
Another important area in which Vestel operates is mobility technologies. Investments in areas such as electric vehicle components, charging stations and battery storage solutions further increase the company’s contribution to environmental sustainability. Contributing to the reduction of carbon emissions through the widespread use of electric vehicles, Vestel aims to expand its work in this area.
It is estimated that the mobility sector will grow significantly in the global market by 2030, and Vestel is increasing its investments in order to get a share of this growth. In particular, Vestel Mobility’s market value is targeted to reach billions of dollars. In this regard, the electric vehicle charging stations and energy storage solutions developed are seen as an important indicator of the company’s success in the mobility field.
The products that Vestel exhibited and the strategies it announced at IFA 2024 once again revealed the importance the company attaches to both sustainability and technology. The company aims to solidify its place in the global arena by shaping its future plans on sustainability, technology and opening up to new markets.