Retail, F&B and culture will be brought together at the Galataport project by the banks of the Bosphorus in Istanbul, in a scheme that aims to re-establish the area as the Turkish capital’s centre for fashion and design.
With over 250 shops and restaurants planned, plus a 1.2km riverside promenade, two museums, a university, office space, a hotel and extensive public spaces, the mixed-use project will target both the international cruise passengers who already arrive at the port and the youthful, design-conscious local catchment.
Project development director Irem Yucel Kaymak said that on opening in May 2020 Galataport will bring an extensive boutique retail offer to the area, plus a vibrant F&B scene building on the area’s strong heritage in contemporary dining.
“It will be a mixture of the old and the new,” she said of the design approach. “The existing buildings, many of which are old warehouses, are being renovated and brought up-to-date, while the new buildings are very modern, so we have this mix across the site.”
Top architectural practice Renzo Piano is creating a new home for the Istanbul Modern contemporary art museum, which is being rebuilt on its existing site at Galataport. The museum was relocated into a temporary building in March while construction takes place.
Kaymak said that beyond the 52,000 sq m retail offer, the intention is to make Galataport a centre for open air events and activities, to re-establish it as a fashion destination.
“The area used to be known as the main area for design and fashion, hosting Fashion Week and other events,” she said. “We want Galataport to bring these activities back. The area has been idle for a long time and we believe this combination of the modern and the historical, plus our proximity to design and fashion universities, will make this a very important location.”
Turkey’s retail brands are also embracing new channels and looking to extend their reach into new global markets, according to two leading trade bodies that joined forces to create a brand showcase at MAPIC.
Sinan Oncel, chairman of the United Brands Association of Turkey, said that after a slow start the adoption of e-commerce in Turkey is accelerating fast, forcing brands to reassess the role of the physical store.
Oncel said the biggest pure-play online brands are seeing sales grow 500 per cent year-on-year, but legacy brands are adapting to this threat. “We’ll transform ourselves to meet the new ways of doing business,” he said. “To attract young shoppers, stores will have to become more alive, more interesting.”
Equally, Turkish brands are looking to open new markets, according to Ozkan Karace, vice chairman of the International Apparel Exporters’ Association. “Our 12,000 members already export $30bn of goods each year,” he explained, “but to grow that we have to raise to profile of Turkish brands.”
Karace said Italy was the leading target destination for Turkish fashion businesses, but Spain and Germany were also seen as markets with great potential.
