Up-market retailer, Harvey Nichols' recent announcement of plans to open a branch of in Turkey is another reminder why the country is a potentially lucrative yet un-tapped market, Ledbury Research...

Up-market retailer, Harvey Nichols’ recent announcement of plans to open a branch of in Turkey is another reminder why the country is a potentially lucrative yet un-tapped market, Ledbury Research report in their latest newsletter.

Ledbury believe Turkey is an important market to watch out for, and one that many more luxury brands will be investigating over the coming months.

Turkey has an extremely wealthy and long-established middle and upper class, principally based in Istanbul and Ankara. Their income pushes Turkey into the top 20 countries ranked by the total income of individuals in US$ (in millions) held by the wealthiest 10% of individuals.

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