How Turkish retailer FLO grew its GMV by +450% and expanded to 19 markets evolving from B2B to DTC
How Turkish retailer FLO grew its GMV by +450% and expanded to 19 markets evolving from B2B to DTC
Starting as a business-to-business (B2B) retailer focusing on wholesale, FLO wanted to grasp the opportunities awaiting them in the direct-to-consumer (DTC) space. They partnered up with Zalando to make its successful step into DTC e-commerce.
Starting as a business-to-business (B2B) retailer focusing on wholesale, FLO wanted to grasp the opportunities awaiting them in the direct-to-consumer (DTC) space. They partnered up with Zalando to make its successful step into DTC e-commerce.
Introducing FLO
FLO Retailing was founded in 1960 by Ahmet Ziylan and has since grown from a small workshop to the leader of Turkey’s footwear market. Initially a purely B2B wholesale retailer, FLO reached almost every corner of Turkey with its diverse assortment.
Fast-forward to 2020, where the pandemic caused a shift in business as usual. FLO decided to launch an e-commerce site to sell directly to customers instead of solely other businesses. The next milestone that they had their eyes on was expanding this DTC offer across Europe and fast.
We introduce you to FLO's E-Commerce Manager, Sevil Asci, who detailed just how she and the FLO team took their assortment from Turkey to Europe to consumers alongside the Zalando Partner Program.
Utilizing Zalando's solutions to focus on your product
FLO managed to launch to 19 markets in 5 months and have big plans for future-proofing FLO for building upon this strong start. Specifically, leveraging ZMS for additional visibility and ZFS for support with optimizing stock flows.
"After our initial success in Germany and Italy, we simultaneously expanded to a further 11 markets within the third month of our operation, utilizing ZFS to optimize our stock flows and TTO."
"We also want to have the visibility to support the stock we're sending in. So we're investing in ZMS with our three main brands in all countries to get awareness and visibility. We're collaborating on a branding strategy to introduce our two biggest brands."
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We had to do everything at once - we saw that the first sales went through the roof, growing 80% Gross Merchandise Volume on a weekly basis, which we weren’t expecting, so it was key for us to expand into new markets quickly.
Sevil Asci, International E-Commerce Manager (Europe)
The Results
- +450% in GMV since joining the platform
- Expansion into 19 markets in <5 months
- Reduced time to online (TTO) to a few working days
- +500% growth in assortment width (Product width refers to the range of product lines that a partner offers)
- +800% growth in assortment depth (Product depth is the variety of products offered under each product line)
FLO's top tips for rapid market expansion
- Always maintain a product-centric focus
Know your product well. Know the customer you want to serve it to well too. Understand your sales curve, how you're developing, and be flexible enough to react to and see the opportunities in that." - Go hard or go home.
"Be bold. Don't shy away from opportunity, welcome it. Invest and go through with it, it's the only way to have an impact in new markets. You can use zDirect to guide your decision-making." - Plan and listen.
"Especially when it comes to key seasonal periods. Act in advance to be ready for what is coming. Plan ahead of time and listen to the guidance from the experts, i.e. your Zalando contact or information on the Zalando Partner University."
About FLO
Founded In |
1971 |
---|---|
Based In |
Istanbul, Turkey |
Employees |
+10,000 |
Stores |
~650 |
Annual turnover |
+800 Mio USD |