In Turkey -- which has a diverse range of ecosystems -- forests make up a third of the country’s total land area. Needle-leaved and broad-leaved tree species are used in construction and furniture making, fulfilling an important role in these industries. The most common tree species in these forests are oak types. These are followed by red pine, larch, beech and juniper trees. The timber and parquet industry is the most common branch of forestry, making up 1.6% of the world's production. Turkey is in the 13th position among 166 countries, meeting this demand.

The United States has a large presence in the forest products sector and is a significant player in world trade. The country is made up of 50 states and 1 federal district, and one-third of its land is forested. In addition, the United States has more than 120 national forests and is dominated by red maple, loblolly pine, douglas fir, poplar and linden.One of the main advantages of the forestry industry in the United States is that it uses renewable and sustainable raw materials and incorporates recycling into its operations.

In the 21st century, Germany has been planting the most trees. Out of the forests in the country, half are privately owned, while the state owns the other half. The state-owned forests are managed by forestry offices which are under the state administration. Through this video, you will gain an understanding of the management of these forestry offices and the regulation of forest product sales.

The Canadian trade succeeds thanks to the country's great location -- it is the most forested country in North America. There is a wide variety of tree species; almost all are publicly owned. This allows the Canadian trade to stay alive at all times. In this video, you will watch a detailed description of the area of the forests that belong to the state administrations.

This video provides detailed information about the forest product auctions of ONF, the manager of the French forests. France has a large forest presence and produces advanced forest products, so it is an important part of the wood market. France ranks 4 in wood trading volume among European countries.

China, a country with a large impact on the world economy, is also a large consumer of wood. Due to China's large agricultural land and crowded population, half of China's ecological assets are agricultural land and forest. China is the largest importer of wood. This video contains information about the country's three key areas in the forest sector, their management of forests, and the sale of wood products.

This video presents a comprehensive explanation of the forestry industry in Spain, including related tenders and a detailed analysis of the leading regions in this sector, along with an examination of its geography. Don’t forget your popcorn, enjoy the video!

Italy has approximately 9 million hectares of forest, which accounts for 5% of the European forest area, making it the sixth largest forest area in Europe. This video provides a detailed description of the forestry sector in Italy. We hope you enjoy watching!

The beech tree is included in the culture of many countries and responds to the needs of every time and has an essential place in today's forestry sector. With its easy workability, long length and durable structure, it always has high demand in all geographies. Moreover, it has a wide usage area. Generally, the things and many tools in our daily life are crafted from this tree.

Although there are more than 400 species in the world, the oak tree reflects the concepts of life and wisdom for every society. One of its fascinating features is capable of self-mutilating. Therefore, it is rare to see any dead branches on it. In addition to meeting the paper pulp needs quickly, it is also the home of the animals in the forest. Thanks to its hard and solid timber, it provides solutions to the house needs such as home scaffolding, doors and stairs. It is also an essential tree of minimalism, which is the current choice of the furniture industry. Enjoy watching.

The ash tree, which flourishes only in the soils of the northern hemisphere that meet particular growing conditions, is one of the trees whose export is prohibited due to this attribute. It can only be supplied from specific countries. This video series contains comprehensive information about the import-export status of the ash tree and its use areas.

Pine trees are the most commonly found species in forests all around the world, with over one hundred different types. These trees have various uses that can meet different needs in the wooden world. If you are interested in learning more about where pine trees grow and how they are traded, processed, and used, you can find this information in sectional videos.

The walnut tree is an important part of both the forest sector and human culture. It is well-known for its timber and is used in various structures and goods in the wood market. It is a valuable tree species that has many other uses. This walnut tree video series consists of these headings as usage areas, trade and processing.

The fir tree, a subspecies of the Pinaceae family and with 55 known species worldwide, holds a significant place in the global forestry sector. Further information on the fir tree can be found in the accompanying video. Enjoy watching!

The linden tree, which typically thrives in the northern hemisphere, is widely distributed throughout Central America, eastern North America, Central and Eastern Europe, Turkey, the Caucasus, and eastern Asia. This video presents the characteristic features of this valuable tree and its importance in the forestry sector. Enjoy watching!

The spruce tree has a vast growing geography. It usually corresponds to the need for building timber. Its width and length can easily reach large dimensions. Thus you can obtain good efficiency in the processing stage. This video series -- consists of usage areas, trade and processing sections -- will answer your questions about spruce. Enjoy watching.

12 - 16 October 2024

12 - 15 September 2024

10 - 13 September 2024

20 - 23 May 2025

06 - 09 August 2024

04 - 07 June 2024

12 - 16 October 2024

04 - 06 June 2024

06 - 07 June 2024

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Vienna, the beautiful capital of Austria, will host the 10th International Hardwood Conference on 8 November 2024. Organised by the Austrian Wood Industry Association for the European Timber Industry Organisation, this important event offers the perfect opportunity for professionals who want to discover the latest developments and trends in the hardwood sector. Event Programme The conference will start on 7 November with a study tour of leading wood industry companies in and around Vienna. This will be followed by a traditional welcome reception in the SELLENY'S Bar at the Hilton Vienna Park. On the morning of 8 November, the conference will officially start at the Hilton Vienna Park and will continue as usual with a networking dinner at the Belvedere Castle. Conference Content This year's conference will offer in-depth discussions on the state of forests and trends in the hardwood market. Sessions will focus particularly on developments in the tropical and Chinese hardwood markets, giving participants the opportunity to understand industry innovations and market dynamics. There will also be a special session on the European Union's Honest Forestry Regulation (EUDR). Sponsorship and Participation Join this unmissable conference for wood industry professionals and take the opportunity to establish new business contacts and be informed about the latest innovations in the sector.

DOMOTEX asia/CHINAFLOOR 2024 brought together wood and flooring industry professionals from around the world for the 26th time on 28-30 May at the Shanghai National Exhibition and Convention Centre (NECC). The exhibition hosted 1,600 companies and brands from 40 different countries, showcasing the latest wood products, technologies and innovations on 230,000 square metres of exhibition space spread across 8 halls. Attendees had the opportunity to see the latest developments and innovations that the Asian region has to offer for the wood industry. International Attendance and Visitor Data The post-show report revealed that China continues to be a strong player in the wood flooring sector, with a significant increase in the number of international visitors. Here are the prominent visitor data: Total Visitors: 83,850 visitors from 117 countries, including 17,923 international exhibitors. International Visitor Increase: 25 per cent increase in the number of international visitors compared to 2023. Visitors from Asia: 57 per cent of international visitors, mainly from the Philippines, UAE, Malaysia, India and Japan. Visitors from Europe: Europe was the second largest source of visitors, accounting for 21 per cent of total international visitors. Visitors from South and Northeast China: There was a significant increase in the number of visitors from South China and Northeast China. The fastest growing provinces were Heilongjiang, Jilin, Guangdong and Hebei. Fastest Growing Visitor Categories: Architecture and interior design professionals, up more than 30 per cent in 2023. Exhibitor Feedback and Plans for Next Year ‘The diversity of people was very good. Being here is a great opportunity to strengthen our relationships with our existing local customers and new customers. It offered an excellent platform to introduce our new wood products and innovations. We look forward to continuing our co-operation with our business and customers in China and the Asia Pacific region.’ Next Year's Fair DOMOTEX asia/CHINAFLOOR 2025 will be held again on 26-28 May at the Shanghai National Exhibition and Convention Centre (NECC). For those who want to take advantage of early booking, booth applications can be made with a 5% discount until 8 November 2024. Leading wood industry companies such as Bona, Bulckaert, CFL, Daejin, Eletile (HMTX), Haima Carpet, Huali Floors, i4F, KDF, Kingdom, Novalis, Paulig, Swiss Krono, Unilin and Uny Floors have already confirmed their presence at next year's show.

Firefighters from different EU Member States will work together again this year to fight forest fires in Europe. As the European Commission recently announced, the EU's rescEU program brings together 556 firefighters from 12 countries. The firefighters will be strategically deployed this summer in France, Greece, Portugal and Spain to assist local fire services when forest fires break out. This measure is crucial as forest fires pose serious threats to the timber and forestry sectors. Preventing forest fires is vital for companies operating in the timber and furniture sectors. The Commission has also allocated €600 million from EU funds to facilitate the future purchase of 12 new firefighting aircraft. These aircraft will be distributed among the six EU Member States. Nine helicopters will also be financed by the EU in the future to strengthen the EU's aerial firefighting fleet. These investments will contribute significantly to resource conservation in the forestry sector and sustainable furniture production. For the summer of 2024, the capacities of the rescEU and the European Civil Protection Pool currently consist of 28 aircraft and 4 helicopters. The EU Commission announced that these aircraft are deployed in ten member states and will be available to support firefighters across the continent. The fleet also includes two light aircraft from Germany. These far-reaching measures will help ensure the continuity of the timber supply chain by minimizing the impact of forest fires. For forestry businesses, this kind of international cooperation and investment is crucial to minimize the negative impacts that wildfires can cause. Through these coordinated efforts in Europe, it is becoming more possible to achieve sustainability goals in timber and furniture production.

According to CSIL, the Italy-based furniture industry research organisation in their latest quarterly issue of World Furniture Online, this year prospects are slowly improving for the European wood furniture sector. The major challenges that have recently weighed heavily on the European furniture industry, such as price increases and supply chain disruptions, appear to be easing. Furniture demand is expected to gradually improve in the second quarter of 2024 and to recover in 2025. Based on interviews with European furniture companies, CSIL also identify key recent changes in the structure and strategies of the sector. Most furniture manufacturers surveyed by CSIL in 2023 said they were increasingly shortening supply chains by becoming more local (at country or regional level). Within Europe, Portugal, Italy, and Spain were identified as the main beneficiaries of this perspective. The relocation is driven by various reasons, including shortening time to market. However, business sustainability, liquidity and security of supply have emerged as key issues that are intensified by international events. The implementation of the EU Deforestation Regulation (EUDR), due from 31st December this year, which imposes strict wood traceability requirements, is another factor that might intensify the trend towards shortening supply chains in the future. CSIL’s analysis of the structure of the European furniture industry highlights that the sector is still predominantly made up of small and medium-sized enterprises (SMEs). The sector employs a significant number of people, with more than 1 million workers in over 135,000 manufacturing companies. While the industry remains SME-based, both manufacturing and retailing are becoming increasingly concentrated. According to CSIL, the top 100 European companies generate more than 30% of the total value of furniture produced in Europe, an increasing share compared to 10 years ago. On the distribution side, the top 15 EU furniture retailers also account for almost 30% of the market. CSIL comment that over the past few years, from 2019 to 2023, there have been many strategic mergers and acquisitions (M&A) in the European furniture manufacturing sector. According to CSIL “this has highlighted the dynamic and evolving nature of the industry, with companies strategically positioning themselves to strengthen their market position and leverage synergies. Furthermore, the M&A landscape within the European furniture industry shows a predominant focus on local transactions with the vast majority of total deals being acquired by companies within the region”.

On 19 February 2024, the European Commission and Côte d’Ivoire signed their Forest Law Enforcement, Governance and Trade (FLEGT) Voluntary Partnership Agreement (VPA), a significant milestone towards sustainable and legal forestry practices. According to FERN, an EU-based NGO, the VPA "marks over a decade of multistakeholder negotiations and technical preparations aimed at promoting the trade of legal timber between Côte d’Ivoire and the EU. This process has been praised as a model of multistakeholder participation." FERN notes that "civil society organizations, representatives from the private sector, and traditional chiefs have been consistently included in VPA discussions. This inclusive approach has proven to be a great advantage in implementing forestry reforms over the years." Like existing EU VPAs with other tropical timber-producing countries, the VPA with Côte d’Ivoire is a legally binding trade agreement. It ensures that all timber and timber products from Côte d’Ivoire destined for the EU market comply with Ivorian laws, while also ensuring that the forestry sector contributes to the country's social, environmental, and economic development. FERN comments that "despite the signing of the VPA, many challenges remain, as the transformation driven by FLEGT VPAs is vast, extending beyond trade to include transparency, land rights reform, and civil society participation, among other aspects." With the signing of the VPA, efforts around its practical implementation will intensify in Côte d’Ivoire. FERN also notes that many questions have arisen regarding the VPAs' interface with the fast-approaching entry into force of the EUTR. FERN notes that "the incoming, stricter EUTR has led many to question the relevance of the FLEGT VPA." Countering this perception, FERN quotes Bakary Traoré, Director of the Ivorian NGO Initiative pour le développement communautaire et la conservation de la forêt (IDEF) and a long-time participant in the VPA process: "No, the EUTR does not render FLEGT obsolete. While it is true that its role is diminished, as it is only mentioned as an element that 'complements' the EUTR in 'specific cases,' in practice, I remain convinced that, at present, no technical tools are available to the competent European authorities that are on par with FLEGT in proving the legality of timber in the context of due diligence. It remains a relevant tool that would be effective, provided we maintain the momentum of the negotiation phase."

In spite of challenges facing the furniture industry, the upcoming exhibition in Poznań promises to match the scale of 2023, spanning pavilions 3, 3A, 4, 5, 6, and 8. Prominent Polish furniture manufacturers will showcase their latest offerings across all price segments, including upholstered furniture, furniture board and solid wood chests, and mattresses. Foreign manufacturers, particularly from Ukraine and Turkey, are increasingly participating in the fair, aiming to tap into global markets. This year, visitors can explore offerings from exhibitors representing over a dozen countries. The MEBLE POLSKA Fair will once again be accompanied by the HOME DECOR Interiors Trade Fair in pavilions 5A and 8, featuring the newest collections of standing and wall decorations, lighting, textiles, ceramics, and other decorative elements. This presents an excellent opportunity for furniture showrooms to diversify their product range. Professional visitors can register on the fair's website, with free registration available until January 31, 2024. Early registration not only saves money but also allows for smoother entry into the fairgrounds. Interest in the Poznań furniture trade fair among professional visitors remains high, with representatives from Polish retail stores, major European purchasing groups, furniture store chains, wholesalers, and online traders from various continents already confirming their attendance. The fair's organizers are actively promoting the event globally, with a focus on the U.S. market, which holds significant potential for Polish furniture manufacturers. The aim is to attract even more overseas furniture buyers to Poznań in February. The previous edition of the event in February 2023 drew nearly 14,000 attendees from 71 countries, with 51% being furniture buyers from abroad. Similar attendance is expected this year, as the organizer, Grupa MTP Group, continues to enhance the fair's international appeal. Source: www.meblepolska.pl

Severe storms ravaged Scotland last winter, destroying millions of trees. The forestry industry is diligently clearing downed trees to salvage timber. Sawmills are operating at full capacity to process windblown yellow pine before it degrades. However, forest recovery may take decades. The storms, which began on 26 November, affected an estimated eight million trees across Scotland. Subsequent storms have further damaged weakened woodlands. Harvesters are working to lift, strip, and fell the fallen trees quickly. The timber is then transported to sawmills for processing. The Mosstodloch mill alone can process around 4,000 tonnes of timber per week. One of the key concerns is blue stain, which can develop if the pine is left exposed. Markets may reject blue-stained pine, emphasizing the need for swift processing. Rebuilding and replanting are critical. Millions of saplings are being grown and nurtured for eventual replanting. This long process highlights the generational effort needed for forest recovery. //www.bbc.com/news/uk-scotland-north-east-orkney-shetland-60394810

In the era of McMansions, the architecturally similar homes that defined the affluent in the 1990s and early to mid-2000s, the place of upholstery became even more important. The popularity of large sofas and chairs, no longer an exclusive choice for luxury residences, has further increased, creating a furniture strategy that effectively combines product dimensions with square meter availability. By 2024, the only certainty in the furniture industry is that there is no longer a "one size fits all" model to guide product development. Upholstery is a fluid product-design category, driven by individual preferences rather than a singular product specification, supported by ever-evolving technology that allows consumers to choose almost anything from frame to fabric. While scale may not have as wide a choice as fabric selection, manufacturers note that for many consumers there are correlations between life stage and size preferences. For some, scale synergizes with the number of household members. For others, multifunctionality is a key requirement for space efficiency. And in the near future, both ends of the size spectrum are likely to be in demand. The officials researching the issue said they would undertake research and development to examine how older consumers think about home. These consumers typically shop in the mid to high price range and have a new perspective compared to consumers of a similar age group in previous years. For many, this is a time of new beginnings, including activities beyond travel, hobbies and caring for grandchildren. This information will support our product development team in designing furniture to match their lifestyle preferences. The changing size needs of the silver generation and other demographic groups have led to an increasing number of large-scale modular furnishing options being shown in manufacturer showrooms. At Meble Polska in Poland, the biggest furniture fair in Eastern and Central Europe, manufacturers such as Wajnert Furniture, Puszman Furniture and Wersal Furniture showcased large-scale modular sectionals that can be configured for almost any size of home, except for the smallest efficiency apartments. In the US, size matters In the United States, several upholstery showrooms during the January Las Vegas Market showcased larger-scale modular sofas as well as upholstery products sized to fit large living spaces. Large-scale modularity was at the forefront of the Diamond Sofa in Las Vegas, offering flexible configurations, streamlined silhouettes and comfort in all sizes and a mid-to-high-end price point story. Moe's Home Collection followed a similar strategy, telling a large-scale story that underscored a variety of introductions. Co-CEO Sara Samieian emphasized modular products designed for a variety of space constraints, saying that flexibility, like scale, was paramount for the Moe's team. "Modular products are great because they are suitable for everyone's space, whether it's an apartment or a big house," she said. According to Rick Lovegrove, president of upholstery for Four Hands, the variety of products on display at the Las Vegas Market was a direct response to consumers' new lifestyle preferences. The Doss media lounge chair was a Four Hands upholstery piece on display in Las Vegas that was designed with large-scale multifunctionality in mind, Lovegrove said, noting that the oversized chair works as a TV-watching/laptop-working design and is available in both fabric and leather. "The way we live has changed and each room serves multiple functions," he said. "For example, we might want to have a zoom meeting, relax or work on the laptop with a dog next to us in the same room. So we really look at how functional we can make a piece without being kitsch." Back in Poland, Bryze says research will continue to be at the forefront of product development. "Our research allows us to design different products for different people and places," he said. "The biggest question is how we can help people live better in whatever space they are in."

Maritime companies declared an extra charge of +1000 USD/CTR starting Jan 1st for shipments to the Middle East and Asia due to the Red Sea situation. As a result, European lumber producers respond by pausing loadings and bookings in light of the announced surcharge. The surcharge applies to all ships using the Suez Canal, regardless of their direction—eastbound or westbound. Sawmills mentioned that even previously booked shipments, if cancellable, will be halted, especially if sailing after Jan 1st. The industry faces challenges as nobody can manage the significant increase of +$20/m3. Business activities are on hold until the week of Jan 8th when there will be a reassessment of the situation with the shippers. Source: timber.exchange

Since early 2022, Russian lumber export prices have fallen by 50%, attributed to import boycotts following the Ukraine invasion, reduced demand in China, and ruble depreciation. Russian lumber export prices have fallen from an early 2022 peak of $310/m³ to $163/m³ in Q3 2023, with significant declines observed in Russia's Northwest, Far East, and Siberia. Europe has seen a notable reduction in shipments, especially from Northwestern sawmills, without significant redirection to other importing regions, contributing to the overall decline. The Russian domestic market has also experienced reduced demand for forest products, resulting in an estimated 20% decrease in lumber production over the past two years. Source: timber.exchange

As Nettree Market Bilişim ve Teknoloji A.Ş., we participated in the 37th International Woodworking Machinery, Cutting Tools, Hand Tools Fair WoodTech, which took place in Istanbul on 12-16 October 2024. This important event was held in cooperation with RX Tüyap and the Association of Woodworking Machinery Industrialists (AIMSAD), with the support of the European Woodworking Machinery Manufacturers Federation (EUMABOIS). This year's fair brought together 22,639 industry professionals from 89 countries and achieved a significant participation. With 3,609 international visitors, the exhibition showcased a wide range of machinery and equipment for the forest industry. Innovative solutions were presented in many areas from surface treatment machines to assembly and packaging techniques. WoodTech provided 375 companies and company representatives with the opportunity to create new export opportunities and business contacts, while visitors had the opportunity to examine more than 1200 machines on site. Taking part in this platform was both a thank you and a promotional opportunity for us as Nettree Market. The interest and participation we showed at the fair was an important step in strengthening the innovations and collaborations in our sector. As Nettree Market Bilişim ve Teknoloji A.Ş., we aim to consolidate our position in our sector by evaluating the connections and experiences we have gained at this fair. We would like to thank all the professionals and supporting organisations who participated in WoodTech 2024. We hope to meet more innovations in the coming years!

As NETTREE MARKET BİLİŞİM VE TEKNOLOJİ A.Ş., we participated in the INTERMOB Fair held at TÜYAP Fair and Congress Center between 12-15 September 2024. In this international event, one of the most important meeting points of the sector, we had the opportunity to introduce our company's innovative products and solutions to visitors. INTERMOB Fair stands out as a platform where important companies in the fields of furniture, woodworking machinery, sub-industry products and technology come together. At this year's fair, we demonstrated our innovative approach in the sector by exhibiting the latest developments in technology and informatics. Our stand attracted great interest from the visitors, especially due to the innovative perspective we brought to the sector. Throughout the event, meetings with industry professionals and co-operation opportunities showed that we have taken important steps towards strengthening our company's market position. Our participation in the fair was of great importance for the promotion of our solutions that prioritise technology and innovation. Taking part in such organisations brings with it the opportunity to follow the latest trends in the sector and connect with potential business partners. We would like to thank all our visitors and organisers who contributed to INTERMOB Fair. We will continue to push the boundaries of technology and add value to the sector by taking part in similar events in the coming years. Content Author : Mehtap Inam Project Manager NETTREE MARKET INFORMATION AND TECHNOLOGY INC.

Nettree Market proudly presents a brand-new catalog that encapsulates the essence of our company – our strengths, collaborative culture, and unwavering dedication to innovation. This comprehensive publication delves into crucial aspects, including our organizational structure, short, medium, and long-term goals, impactful social responsibility projects, seamless functioning of our website, and dynamic revenue models. With this catalog, we strive to effectively convey our vision and mission to all our esteemed readers. Moreover, we underscore our relentless pursuit of constant improvement in our business processes, underlining our unwavering commitment to delivering unparalleled services to our valued clientele. The catalog places significant emphasis on Nettree Market's unwavering dedication to social responsibility. By offering detailed insights into the scope and profound impact of our social initiatives, we invite readers to experience the values we hold dear. An additional focal point within the catalog lies in elucidating the intricacies of our website's functionality and the value it generates for our esteemed customers. Lastly, we shed transparent light on the fundamental principles that underpin our robust business strategy by openly sharing our revenue models. Stay tuned for the imminent unveiling of the digital version of this exclusive catalog!"

The National Sovereignty Park in Devrek, Zonguldak, hosted the “A Green World” project by Nettree Market, reflecting our values in sustainability and environmental protection. We conducted cleaning and waste collection activities in the green areas of the National Sovereignty Park. The aim of this event, in which our employees participated voluntarily, was to raise awareness about environmental sensitivity and conscious consumption. As Nettree Market, we will continue our efforts with all our might for a greener and more sustainable world of the future. We will realize our projects within the scope of “A Green World” by sharing them with our customers and increasing environmental awareness in society. We will strive to play a leading role in the preservation of natural resources and the cleanliness of green areas. Together with our customers, we will continue to fulfill our responsibilities for a cleaner world.

Nettree Market participated in the CNR International Furniture Fair held at Antalya Fair Center from 04 - 08 November. During the event, we had the opportunity to meet with professionals from the forestry sector and explain our technological solutions, along with their benefits and how they can be useful to their businesses. Thanks to the customer-oriented approaches of our exhibition team, genuine and pleasant exchanges were had between our team and the attendees. We look forward to welcoming you as a guest at future events we participate in.

We are delighted to inform you that Nettree Market has moved to a new workplace. Our new building is fully equipped, allows for technological innovations, and provides a comfortable workspace for our growing team. We hope to open branches in other cities in the future and have the opportunity to provide our valued customers with a cup of tea.

During their visit to the WoodTech 36th International Fair in Istanbul TÜYAP, the Nettree Market research team sought to explore the latest innovations in the wood industry, establish new business connections, and learn about emerging e-commerce solutions. Their two-day stay allowed them to gain valuable insights into advancements in wood technology and engage with suppliers who are interested in e-commerce.

The Nettree Market research team attended the Istanbul Furniture Fair (IFF), the largest furniture fair in Europe, and during their visit, evaluated the leading problems in the industry and the solutions offered to them by the participants. We express our sincere gratitude to the esteemed participants for their profound interest and favorable feedback regarding the Nettree Market digital platform.

Nettree Market has recently opened a new branch in Chicago's Trade Center, marking its entry into the US market - one of the largest in the world. Working in collaboration with the Union of Chambers and Commodity Exchanges of Turkey (TOBB) and the Ministry of Commerce, the company is hopeful that this move will yield positive results. Founder İbrahim Şahoğlu has indicated that the company has plans to expand further, with New York and Boston being the next targets.