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Solid 2022 Goals from Doğanlar Furniture Group
Doğanlar Furniture Group aims to increase its consolidated sales revenues by 80-90%, to TL 3.2 - 3.4 billion in 2022.
- Doğanlar Furniture Group sets out with the goal to achieve 100-120 new sales points in Turkey and 15-20 new overseas sales points in 2022.
- Doğanlar Furniture Group's primary target markets are in Senegal and the Turkish Republic of Northern Cyprus, along with the USA, where it has launched its own companies.
With the brands Doğtaş, Kelebek, Lova Mattress, Kelebek Kitchen & Bathroom and Ruum Store, Doğanlar Furniture Group, one of the pioneering groups of the furniture industry, has announced its expectations for the year 2022. Doğanlar Furniture Group expects to increase its consolidated sales revenue by 80-90% in 2022, reaching TL 3.2-3.4 billion.
İsmail Doğan, CEO of Doğanlar Furniture Group: “In 2022, we have a target of 100-120 new domestic sales points and 15-20 new sales points overseas.”
Doğanlar Furniture Group CEO İsmail Doğan made a statement on the subject: “For the year 2022, we announced our predictions by taking into account our brands’ target budgets, a decrease in the effects of the pandemic compared to the previous years, expected growth through the investments we have made in exports and e-commerce, and expected restructuring of our brand Kelebek Kitchen.
Our 2022 budget has TL 3.2-3.4 billion as consolidated sales income through an 80-90% increase in sales, a 15-16% EBITDA margin and an expected 1.4-1.8x net financial debt/EBITDA rate.
We expect our brand Lova Beds to constitute around 8-9% of consolidated sales income with 50-60 new sales points in 2022. The investments planned in 2022 will make up 5-7.5% of the consolidated sales income in 2022.”
Stating that they aim to have 100-120 domestic and 15-20 overseas new sales points, Doğan pointed out that they will be investing as much as 5-7.5% of their consolidated sales income.
Accordingly, he underscored that while investments in all brands will continue, the brand Lova Beds which stands out with its fast growth will constitute 8-9% of the consolidated sales income and that they are to open 50-60 new sales points.
Mentioning that Doğanlar Furniture Group’s main target market is the USA market where they have launched their own companies, Doğan added that they expect a sharp rise in e-commerce.
İsmail Doğan stated that they expect their brand Ruum Store to play an important role in these predictions, since it has surpassed the expectations in sales although it has only been making online sales for a long time. Doğan said that they expect 2022 to be the year of Ruum Store.