Silk and Cashmere /Ay?en Zamanpur

Introduction

Silk & Cashmere is a Turkish brand, which figured out the worldwide tendencies considerably well, amalgamated the opportunities and possibilities with vulnerabilities and restraints of the business and observing a market niche at the right time, formed a joint venture abroad in 1992 subsequent to proper assessment, and now progressing with resolute steps to be a world brand. Aysen Zamanpur Founder & CEO, Silk and Cashmere Aysen Zamanpur was graduated from Robert College and then Bogazici University Management School.

Aysen Zamanpur

After working at Sisecam 5,5 years as a planning specialist, she decided to leave this job she loved, because she was sick of the routine.

She left Sisecam to be in the life, invest and to start her projects. She opened Benetton store at Galeria. She has increased the stores to 7 within 5,5 years. But she was in routine again. She had to do something new, using her creativity like creating her own brand. When she saw Louis Vuitton in Singapure, her desire had been shaped.

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“I wanted to step in the store but it was upto full with the customer at ”A” group.

I respected. They were not selling a heart medicine that is about to end up. ” She decided that creating a brand was always at something in her mind. What she would do? She remembered the information she got at a store in England. Cashmere is healthy, matching with skin. It could also be chic. She had once touched cashmere, than her research has began. Her husband was doing iron and steel business with China.

She had learned that the motherland of cashmere is China. She has investigated cashmere in China.

Although she had chance to sell cashmere in Pekin, she had bought from its factory; she had believed in the importance of creating a brand. In 1992 she had sold her 7 stores in three months and then she had been a partner of Cashmere factory in China. Cahmere was the most suitable silk. Both were natural, healthy and could be aristocrat; one could be worn in Winter and one in Summer. The mixture in Spring. Zamanpur has named the brand “Silk&Cashmere” Silk&Cashmere First factory was opened in Zurich. Now, they are selling Silk&Cashmere at 154 points even in Grand Bazaar and have revenue as 15,8 million/ year.

She emphasises that she did not try to brand an already existing product in the market, she has established the brand on a niche, that is, they spotted the niche and worked on a brand project to fulfill this niche. This is very rare and this is their edge. Before Silk and Cashmere, there were two types of players; Either 60-70 year old aristocratic Scottish, British and Italian producers who were selling in closed circuits with extreme margins or other producers using very low cashmere percentages with other blended wool types and calling relatively lower qualities as cashmere. What laid in between these two markets was their niche.

The establishing of Silk&Cashmere

And the smart, well educated world citizens with an eye on good quality cashmere did not have a brand name. So they projected and established Silk&Cashmere. The catch, however, is that neither silk nor cashmere is available in Turkey. So they started chasing the cashmere goat in Inner Mongolia of China in 1992. Their story is one of a kind process that can be a best seller fiction if written. On top of it all – they are the first brand name which blended these two valuable yarns and introduced cashmere-silk (kasipek) and based all the strategy solely on these 3 precious materials.

What stood them aside from the main streamline has been their strategy to stay pure on these materials and set the business plan, branding and expansion and thus become a world wide brand name. Collection includes, pure cashmere knitwear, coats, overcoats and garments for men and women and pure silk and silk cashmere blouses, shirts, scarves, neckties and shawls, each year enlarging collection by adding up lines like 'Cashmere for Home' covering home textiles, 'Prom Collection' and 'After Dark Collection' for evening and night dresses.

The satin silk quilts with pure cashmere filling from the 'Cashmere for Home' collection are the very first in the world and have been very popular in the European market. 'Silk & Cashmere' is a brand created after long elaborations, surveys, local and foreign investigations, discussions, negotiations, assessments, judgements, and final decisions. They have been frequently invited by media, universities and other academic institutions, domestic and foreign NGOs, and considerable number of societies and associations of brand-names, businesspersons, entrepreneurs, etc to tell about the success attained by Silk & Cashmere' and present their story as an 'entrepreneurship model'. There also has been a remarkable attention from various women’s societies since the president of the business is a woman. Whilst being publicized in the media and being the topic of various conferences, forums and symposiums held, the success of their brand name have attracted interest in the academic circles.

The presence of 'Silk & Cashmere' in the educational arena

Consequently, the presence of 'Silk & Cashmere' in the educational arena has started upon its being included in the curriculum of the graduate program of the Business School of Istanbul University as a case study on a "successful entrepreneurship' and has continued on being the subject of dissertations presented 4 times up to now in the graduate schools of well-acknowledged universities. Succes Story 'Silk & Cashmere' has noticed a 'niche' space in the market and by taking the right decision at the right time and has succeeded to enter the market with vigor offering high quality material at reasonable prices.

Earlier, there were either high priced quality cashmere brands having stores with aloof, selective, and upper-class nature or department store brands of lower quality which would not be favored by the refined urban segment. 'Silk & Cashmere' has spotted this gap and has been the first brand that took the cashmere out of such unapproachable structure and exposed for sale at shops having warm and genial atmosphere, targeting a wider market. While doing so, 'Silk & Cashmere' has never conceded on the quality and used the best kind of pure fiber obtained from the world re-known cashmere goats of Inner Mongolia in its products.

Using high quality cashmere fibers and at the same time setting reasonable sale prices for the products as the result of its reflecting the advantage obtained from its investment at the homeland of cashmere directly to the customers has attracted considerable interest. It has boldly chosen only cashmere and silk and blends of these two fibers 'cash-silk' as raw materials for its products and created a new concept by bringing these material together in harmony and put them on sale in a chain of shops and corners.

Directed itself to succeed not only in local scale but in the global market Targeted a long term and continuous accomplishment, not a short term benefits The somewhat ossified cashmere market has been dominated by well-known and deep-rooted British and Italian names the newest of which is being at least 50 years old. 'Silk & Cashmere' has been one of the new brands in the field taking the lead to challenge such a solidified market. 'Silk & Cashmere' brand has justified reasons in bringing together the two substantially matching products. Both of these materials are natural and healthy to use - Both are centuries old and their aura is in extreme harmony.

Both are associated with aristocracy, crowns, palaces, dowries and identified with quality, knowledge and experience - Both have the same homeland - While one is sold in winter and the other in summer, their blend cash-silk is salable in spring and autumn and this feature attributes them a commercial advantage. There is no other brand originated from such two harmonious and stimulating materials and their blend, which it has named as cash-silk. Silk & Cashmere' is a trademark of Fabeks Foreign Trade Co. In December, 2011, East Gate Capital Group, Dubai based private equity and real estate investment subsidiary of NCB Capital, made its first investment in Turkey and acquired a 49. 8% stake in Fabeks, owner of the Silk & Cashmere brand, which is one of the leading cashmere brands globally, for an undisclosed sum. Eastgate's investment in Silk & Cashmere is expected to facilitate the Company's expansion in Turkey , which is one of the largest and fastest-growing retail apparel markets in the world, and selected international markets.

The main aim of the company

Their aim is to be a global brand at silk and cashmire. Eastgate applied to the Ankara-based regulator on Dec. 28 for approval to buy the Fabeks stake from owners Aysen Zamanpur and Bijen Zamanpur, according to a statement on the board’s website. Members of the Zamanpur family and other owners will continue to hold the remaining 50. 2 percent, it said. With this synergy, they are targeting to enhance 3 times in 5 years, which means 450 stores and corners shops. At first she didn’t want partnership. They already had a steady growth and they were creating profit.

Financial values were good and they were not looking for a partnership. They were careful and assertive in their field. There were so much attention on company. They have made an investigation and found out that globally when companies arrive a point, they are growing by jumping with funds and strategic partnerships. This attention of other companies also shows the succes of the company. They have asessed the sitution within the family and made a decision. They have determined the good ones with the investigation of Deloitte and negotiated with Eastgate Capital who is very close to our criterias.

Eastgate Capital is a very reputable and strong fund and they believe the same bright future of the company. They have explanied the reason of their interest about Silk & Cashmere as “Silk&Cashmere was growing rapidly and company has a strong management team. A real succes story. They are canditade of leaving a global trace and they have a serious growing potential. We will be a part of this. ” They have 154 stores and corners shops in 24 countries. They are planning to open their first shop in China in Shenyang. Then Pekin and Shanagai.

Conclusion

They also have expansion plan with their retailer in Australia. The brand’s two decade journey has garnered over a dozen awards in “entrepreneurship and brand succes” including the “perfect entrepreneurship award” in United Nations. In addition Silk&Cashmire is a case study in numerous graduate classes of esteemed universities and is also studied in 6 textbooks about succesful brand creation and entrepreneurship. Herald Tribune magazine has defined Aysen Zamanpur as the cahmire manufacturer who has captured the World.

What makes the company different is that they have gone and invested to the motherland of the goats, and their know how and knowledge on cashmire coming from this 20 years experience. They are booking goats giving good wool one year before and paying deposit. It’s a very though process and there aren’t so much companies in this field dealing with these. She has the thought that to be a global brand; you have to be known in the parts of the world, even if you haven’t opened a store there. She doesn’t see a barrier for their company to be a global brand.