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Vakko Nişantaşı in Harbiye, Şişli, Istanbul Central Business District

Key Information

Vakko is a Turkish luxury fashion company[1] founded by Vitali Hakko (d. 2007) survived by his son Cem Hakko.[2] It produces and retails textiles, leather goods, and accessories.[3][4][5][6]

Vakko also operates luxury department stores under the Vakko name at Zorlu Center, İstinye Park, Akmerkez, Vadi Istanbul, and Akasya malls and on Bağdat Caddesi in Suadiye (Asian side); in Ankara at Atakule and Armada malls, and in İzmir at Hilltown and Istinye Park İzmir malls. It also operates boutiques under the Vakkorama, Vakko Couture, Vakko Wedding, Vakko L'Atelier, and Vakko Home names, as well as Vakko Outlet locations.[7]

Vakko Hilltown İzmir mall in Yalı, Karşıyaka, İzmir

In 1962, Vakko's eight-story flagship store on İstiklal Avenue in Beyoğlu was the first modern department store in Turkey.[8] It operated until 2006, when it became a branch of Mango.[9]

History

[edit]

Vakko was founded in 1934 by Vitali Hakko under the brand name Şen Şapka (Turkish: The Happy Hat) as a small hat seller in Sultanhamam.[10][11][12] In 1937, with his older brother Albert Hakko becoming a partner, Vitali Hakko changed the name of the company to Vakko and established Turkey's first silk dyeing workshop in Kurtuluş, Şişli.[12][13] After Şen Şapka transformed into Vakko, it started to produce scarves with Turkish silk, cotton and wool. Over time, Vakko turned to ready-to-wear to produce more than hats, scarves, and printed fabrics. Here, customers were introduced for the first time to modern store practices such as bargain-free and promotional sales, and replacement of sold goods.[12]

In 1962, Hakko opened a large 8-storey store, including a cafe and fashion gallery, in Beyoğlu (a.k.a. Pera), at the time, the most important modern shopping districts in Istanbul.[10][11] In 1969, the first Vakko Factory was built in Merter measuring 40,000 m2 and employment was provided.[10][13] In 1973, the second Vakko store opened in Ankara, and Vakko began to further expand its retail network with the Vakko Boutique sales points it opened one after the other.[10] Six years later, in 1979, the third Vakko store opened in İzmir.[13] There was an increase in the popularity of the Vakko brand with advertising campaigns and fashion shows carried out throughout Turkey.[12]

In September 1979 Vakko opened up its first shop outside Turkey, in Old Bond Street, London, selling merchandise 90% Vakko-produced, including items by Sevim Cavdar, and launched by a rooftop fashion show at the Régine Club.[14]

In 1981, on the 100th birthday of Mustafa Kemal Atatürk, a fashion and art show called "Anatolian Sun" was organized, bringing together Anatolian cultures and Western fashion concepts.[10] The show, which was also exhibited in Rome, Vienna, Brussels, Paris, and London on outside Turkey, introduced Vakko in Europe as the representative of contemporary Turkish fashion.[13]

"The Face of Vakko", Gisele Bündchen

In 1982, Vakkorama, one of Turkey's first youth stores, opened in Taksim, Istanbul.[15] In order to bring New York fashion to Istanbul, Vakkorama introduced a new team called V2K Designers ('V2K Designers') in 2000 with the slogan "Two cities, one brand". Over time, V2K Designers has acquired designers and brands from other fashion cities such as Paris, London and Milan, as well as New York. Today, it is Turkey's first concept store where different world brands meet under the same roof. Creations of other designers and brands such as Rick Owens, Gareth Pugh, Alexander Wang, Hussein Chalayan, Preen, Erdem, Elizabeth & James, Band of Outsider, and Rag & Bone are available at V2K Designers.[15]

In 2006, Vakko opened in the then-new Kanyon Shopping Mall in Levent, in Istanbul's modern Central Business District (the store has since closed and opened in the newer, larger Zorlu Center nearby). At the same time, the famous fashion designer Zac Posen's specially interpreted creations for Vakko were introduced under the label "Zac Posen @Vakko". In the same year, world-famous top model Gisele Bündchen became the face of Vakko's campaign. Since 2008, Vakko has been continuing its operations in its new factory, which is headquartered in Merter and spread over an area 2 times the size of its old factory, with screen printing and ready-made clothing production units, logistics facilities, social use areas, and work offices.[16]

In 2009, Vakko Home, launched, offering a selection of home furnishings and accessories, domestics (bed linens and towels), etc.[17]

In 2010, Vakko Fashion Center, designed by New York-based REX and shared with media company Power Media, was opened in Nakkaştepe, Üsküdar (Asia), consisting of all management units and creative staff offices, as well as showrooms, the Vitali Hakko Creative Industries Library, auditorium, gallery and museum. In the same year, Vakko Wedding House Akaretler, which brings together evening dresses, tuxedos, accessories, underwear and hats suitable for all kinds of ceremonies for the bride and groom's families, opened in a single store. The first culture and arts festival, Istancool, which brought together many famous artists from different disciplines, was held in 2010. Many important names from the fashion and art worlds were hosted as guests, including the famous style icon Daphne Guinness, hat designer Philip Treacy, and pianist Michael Nyman. In 2011, Vakko Fashion Center was chosen as the "Best Workspace of the Year" by Wallpaper magazine and the international architecture platform ArchDaily.[18][19][20]

Also in 2011, milliner (hat designer) Stephen Jones ' The Accent of Fashion Exhibition was held at Vakko Fashion Center.[21][22]

In the 2010s, Vakko continued to branch out in diverse related businesses:[17]

  • In 2011, the Vitali Hakko Creative Industries Library opened focusing on fashion, architecture, painting, design, cinema and music-related publications
  • In 2013, the Vakko Esmod Fashion School launched in collaboration with the École supérieure des arts et techniques de la mode (ESMOD) of Paris, established in 1841
  • In 2016, Vakko opened the first Vakko Patisserie branch, and introduces a new brand for all of its diverse food and beverage services, Vakko L'Atelier

Istancool2012 hosted important names from the fashion and art world, such as French Vogue editor Carine Roitfeld, famous photographer Mario Sorrenti and artist Pınar Yolaçan.[23]

Also in 2012, Hartford and Riviera Maison brands were incorporated into Vakko Holding. [24]

Retail store formats

[edit]

As of 31 December 2023 there were 181 points of sale: 29 in the department store division, 44 Vakko Boutique, 27 Vakkorama, 51 W Collection, 15 Vakko Outlet, 10 Vakko Wedding and 5 Vakko Home stores.[25]

As of June 2024, Vakko lists the following retail divisions and formats:[26]

Division/
format 		Geographical presence Remarks
Istanbul Other
Vakko department store division
Full-line
Vakko
department
stores

Former:

Ankara:

Former:

  • Kızılay, Çankaya (1973–2002)[29][30]

İzmir

  • Hilltown İzmir mall, Yalı, Karşıyaka
  • İstinye Park İzmir mall, Bahçelerarası, Balçova

Former:

  • Alsancak, Konak (1979–?)[31]

Elsewhere

  • Adana, 01 Burda mall
  • Antalya (2): Vakko and Vakko Cadde both in Şirinyali, Muratpaşa
  • Bodrum, Mandarin Oriental Hotel
  • Bursa
 [29]
[26]



Vakko
Christofle
  • Ankara, Atakule mall
Vakko
Couture
Vakko
Fabiana
Filippi
Vakko
Kuzu
Effect
  • Ankara, Züfrü Tigrel St., Oran, Çankaya
Vakko
Mare
  • Bodrum
  • İzmir ("Swiss", Celal Bayar, Çeşme)
 Swim- and beachwear
Vakko
Mare &
Fabiana
Other divisions
Vakko
Boutique/
Vakko
Kiosk

Istanbul (20):

Boutique (27):

Kiosk (4):

  • Adana: M1 Adana
  • Ankara (2): Antares, Bilkent Center
  • Bodrum: Midtown Bodrum AVM

Former:

Format launched 1993[29]
Vakko Home
  • Bodrum
  • Bursa
  • İzmir (Çeşme Marina)
 Format launched in 2009 [29]
Vakko Wedding
  • Adana
  • Ankara
  • Antalya
  • Bursa
  • İzmir
Vakko Outlet
  • 8 locations
Vakkorama
  • 9 locations
  • İzmir (4)
  • Bodrum area (3)
  • Ankara (3)
  • Bursa (2)
  • Adana
  • Antalya
 23 locations. Launched in 1982,[29] youth lifestyle stores with fashion, gifts, electronics, music, and art. [32][33]
V2K Designers Since 2000 a designer-focused section within Vakkorama and since 2015 also in Vakko full-line department stores. Its original name was Vakkorama V2K.[29]
Vakko L'Atelier
  • Vakko Patisserie bakery, ice cream, chocolates (counter for takeaway and sales of packaged items)
  • Vakko Bistrot full-service bistro
 [34]

Defunct formats as of June 2024:

  • Vakko 365 Single location at Kanyon mall, converted in 2020 from a Vakko dept. store. Offered current as well as previous-season fashion.[28]

Bağdat Avenue (Suadiye) store

[edit]

Since 1996, the Vakko department store's Suadiye branch has been located in a historic yalı (typical wooden villa/summer house) along the upscale Bağdat Caddesi on the Asian side of Istanbul. In the survey by Kadıköy Platformu asking which store consumers liked the most for its appearance and displays, 76% answered the Vakko Suadiye mansion. Vakko's December seasonal decorations are especially popular, with multiple decorated trees (Christmas tree/New Year tree-style) and a merry-go-round in front of the store, and more trees, wreaths and candles within. In 2012 the store created artificial snow which fell in front of the store.[35][36][37] For New Year's 2018, newspaper Hürriyet awarded Vakko Suadiye the status of "best decorated stores in the city".[38]

Non-retail businesses

[edit]
  • Vakko Hotel and Residence, Istanbul[39]
  • Vakko Esmod, fashion institute (educational institution)[40]
  • VET Vakko School of Hospitality and Service, in partnership with the École hôtelière de Lausanne (Lausanne Hotel School, Switzerland) opened 2024[41]
  • Vitali Hakko Creative Industries Library[42]
  • Power Media (PowerFM launched 1992,[29] see below)

Power Media

[edit]

Power Media a.k.a. Power Grup, with about 15% of the radio market in Turkey in 2014[43] whose operations include:[44]

    • Radio stations (tr), Power FM,(tr) Power TürkFM(tr) Radyo Fenomen, Power Love FM[45]
    • Power TV(tr) Power Garage TV,[45] PowerTürk TV, Power Dance TV, Power Love TV, PowerTürk Akustik TV, PowerTürk Slow TV, and PowerTürk Taptaze TV[46] music video channels[47]

The Power Group was launched in 1992 with Power FM, a national radio station, followed by Power XL and PowerTürk radio, PowerTürk television in 2003, Radyo Fenomen in 2008, Power Garage TV in 2012 and Power Love FM in 2012. 160 employees work at the Power Media Center (joint HQ building with Vakko) that includes radio and TV studios.[45]

References

[edit]
[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Vakko

View on Grokipedia
from Grokipedia
Vakko is a leading Turkish luxury fashion company that designs, manufactures, trades in, and retails for men and women, along with accessories, scarves, couture collections, products, and lifestyle items such as chocolates and teas. Founded in 1934 by Vitali Hakko as a small shop named Şen Şapka in Istanbul's Sultanhamam district, the brand was renamed Vakko in 1938 and expanded to include Turkey's first silk dyeing workshop in Kurtuluş. Under Vitali Hakko's leadership, who began his career as an apprentice in the textile trade, Vakko pioneered modern in by establishing the country's first cloth in 1948 and opening innovative multi-story retail stores, such as the eight-story flagship in in 1962 that featured a café and gallery. The company evolved from hats and scarves into a comprehensive luxury brand, emphasizing high-end designs and quality craftsmanship, and remains a family-owned enterprise now chaired by Cem Hakko, Vitali's son. Today, Vakko operates through concept stores like Vakkorama, which integrate fashion retail with services such as a radio station and gym, and extends its influence via the Vakko ESMOD fashion academy and the Vitali Hakko Creative Industries Library in Istanbul. With headquarters in Esenyurt, Istanbul, the company reported revenues of 14,855.44 million Turkish lira in 2024 and maintains a market capitalization of approximately 9,424 million Turkish lira as a publicly traded entity on the Istanbul Stock Exchange.

History

Founding and Early Development

Vakko was established in by Vitali Hakko as Şen Şapka, a small hat shop located in Istanbul's historic Sultanhamam district, capitalizing on Turkey's recent hat reform that promoted Western-style headwear amid the country's modernization efforts. Initially focused on retailing s to align with the emerging demand for European-inspired fashion in a rapidly secularizing society, the business reflected Hakko's vision of bringing contemporary Western aesthetics to Turkish consumers. In 1938, following the partnership with his older brother Albert Hakko, the company was renamed Vakko—derived from the initials of Vitali and Albert—and transitioned from primarily importing and selling hats, ties, and accessories to local production by establishing Turkey's first silk-dyeing workshop in the Kurtuluş neighborhood of Istanbul. This shift marked the beginning of Vakko's manufacturing capabilities, producing scarves from Turkish silk, cotton, and wool, and underscored Vitali Hakko's influence in adapting global trends to local materials while navigating Turkey's evolving economic landscape. Post-World War II import restrictions in prompted further emphasis on domestic production, leading to the 1948 establishment of the country's first cloth-printing factory in Kurtuluş, where Vakko began creating logo-bearing scarves and expanding into textiles. Under the brothers' leadership, the company grew by incorporating family expertise in design and business, gradually broadening its offerings to include elements while maintaining a focus on high-quality accessories that introduced Western sensibilities to Turkish markets. This foundational period solidified Vakko's role as a pioneer in 's industry, blending imported inspirations with local innovation.

Key Milestones and Expansions

In the , Vakko marked a significant advancement in Turkey's retail landscape by opening its first modern in 1962 on in , , an eight-story flagship that included a café and fashion gallery. This establishment set a new standard for department stores in the country. By 1969, the company expanded its production capabilities with the construction of the Vakko Factory in the Merter district of , spanning 40,000 square meters and incorporating an featuring works by prominent Turkish artists. The 1970s saw further domestic growth as Vakko extended its retail presence beyond Istanbul. In 1973, the second Vakko store opened in , initiating a broader network of boutiques across the country. This was followed by the third store in in 1979, solidifying Vakko's position as a national brand. That same year, Vakko ventured internationally by opening its first overseas shop on London's Old , primarily featuring Vakko-produced merchandise and marking early export initiatives to and the . During the and , Vakko diversified its offerings to appeal to younger demographics. In 1982, the company launched Vakkorama, Turkey's first youth-oriented garment store in Istanbul's Taksim district, which functioned as a concept store integrating with , , and events. The brand navigated Turkey's economic turbulence, including inflation and currency crises, by maintaining innovative designs and retail strategies under founder Vitali Hakko's vision of elevating Turkish globally. In 2007, Vitali Hakko passed away, leading to a transition to his son, Cem Hakko, who continued to steer the company through ongoing challenges. Following 2007, Vakko pursued modernization in the , emphasizing digital expansions such as enhanced platforms and data integrations to broaden . Concurrently, sustainability initiatives gained momentum, including reductions in water consumption and starting around 2012, alongside the adoption of sustainable materials in production.

Products and Brands

Ready-to-Wear Collections

Vakko's collections form the cornerstone of its apparel offerings, encompassing dedicated lines for women and men that feature sophisticated dresses, tailored suits, and versatile . These collections prioritize premium materials, including and blends, to ensure durability and elegance in everyday and formal settings. For instance, men's suits often incorporate wool- fabrics for a refined drape, while women's dresses utilize similar high-quality weaves for fluid silhouettes. A key sub-brand within Vakko's portfolio is Vakkorama, established in to address the youth market with casual and streetwear-focused designs. Targeting younger consumers, Vakkorama emphasizes dynamic, urban through innovative models in various colors and styles, blending comfort with contemporary trends to promote a youthful . Vakko's design approach integrates traditional Turkish motifs, such as Ottoman-inspired patterns, with global influences, crafted by in-house designers and supported by strategic collaborations. This fusion is evident in seasonal offerings, where collections like Fall/Winter and Spring/Summer explore themes of elegance and modernity using luxurious fabrics. The brand's emphasis on quality and has positioned its as a pioneer in since introducing the concept in the 1950s. Complementing the core lines, Vakko Wedding provides specialized ready-to-wear for bridal and formal occasions, including dresses, cocktail dresses, and jumpsuits that highlight timeless with modern details. This line caters to ceremonial needs, offering options in exquisite fabrics to suit diverse bridal preferences.

Accessories and Home Goods

Vakko's accessories collection encompasses a range of luxury items designed to complement its offerings, including goods such as bags and wallets crafted from high-quality materials for and . The line also features signature silk scarves, which have been a staple since the company's early decades, with examples dating back to the showcasing intricate patterns and hand-rolled hems. Additional categories include jewelry, belts, shawls, gloves, and selections from premium like Chimi and Kaleos, emphasizing artisanal details and versatile styling. The brand extends into home goods through Vakko Home, which offers elegant, minimalist designs in , table textiles, and decorative items to elevate living spaces. This line includes bed linens, towels, tableware, and hobby accessories, focusing on quality fabrics and functional aesthetics. Other product extensions feature perfumes and , with options for women, men, and scents like the exclusive Vakko Leather , alongside small items that highlight premium construction. In recent years, Vakko has incorporated practices, such as the Project initiated in 2020 and partnerships with certifications like GOTS for eco-friendly raw materials, including in select collections. These efforts underscore a commitment to responsible production across accessories and home goods.

Retail Operations

Store Formats

Vakko's department stores serve as comprehensive retail destinations, offering the full spectrum of the brand's luxury , accessories, and goods across multiple levels. These stores are typically located in prominent urban shopping districts and designed to provide an immersive shopping experience with dedicated sections for , couture, and lifestyle products. The company also maintains specialized store formats tailored to distinct customer segments. Vakkorama stores target younger audiences with contemporary, casual apparel and lifestyle items, emphasizing trendy and accessible in vibrant, concept-driven spaces. Vakko Boutique locations focus on upscale, curated selections of premium and accessories for discerning shoppers seeking refined elegance. Vakko Outlet stores provide discounted access to past-season items and overstock, operating as value-oriented venues to extend the brand's reach to budget-conscious consumers. Additionally, Vakko Wedding stores specialize in bridal and , offering services and collections in dedicated showrooms. Vakko's digital retail presence complements its physical network through an platform launched in the early 2000s, enabling online purchases of core collections with features like personalized recommendations and exclusive web-only items. The brand's , available since around 2011, enhances this by providing real-time access to trends, promotions, and loyalty perks, while integrating seamless functionalities such as in-store pickup and unified inventory across online and physical channels. Among its iconic locations, the flagship store on in Suadiye, , stands out for its striking architectural design, featuring modern facades and spacious interiors that blend luxury retail with cultural elements, drawing shoppers to its multi-level layout since its prominent establishment in the area.

Domestic and International Presence

Vakko operates a robust domestic retail network in , with 178 stores as of , 2024, comprising 165 owned outlets and 13 dealer-operated locations. These points of sale span a total retail space of 67,933 square meters and are primarily situated in high-traffic urban areas, including major cities such as , , , , , , and . The concentration in shopping malls and key avenues underscores Vakko's strategy to target affluent consumers in metropolitan hubs. Internationally, Vakko maintains a limited physical footprint, with no permanent stores outside as of 2025. Historical expansion efforts included a flagship store on London's opened in , which has since closed, marking an early but short-lived foray into global markets. The company now emphasizes exports to and the , supported by a dedicated international sales division, alongside occasional pop-up shops and partnerships rather than owned retail spaces abroad. Official shipping remains restricted to , though third-party forwarding services enable global access.

Other Ventures

Education and Hospitality Initiatives

Vakko has expanded its commitment to education through strategic partnerships that foster talent in the fashion and hospitality sectors. In 2013, the company established Vakko ESMOD in collaboration with the renowned school , marking Turkey's first international fashion academy of its kind. This institution offers comprehensive programs, including diplomas in and creation as well as fashion brand management, equipping students with industry-relevant skills through a curriculum blending international standards and local expertise. The academy emphasizes practical training, such as collaborative projects with fabric suppliers, to prepare graduates for global careers in apparel design and business. Building on this foundation, Vakko launched the VET Vakko School of Hospitality and Service in 2024, partnering with the (EHL), the world's leading hospitality management institution. The school focuses on vocational training in operations, and beverage service, and professional service skills, offering diploma programs ranging from six months to 1.5 years to address the growing demand for skilled professionals in Turkey's luxury hospitality sector. Training commenced in January 2024, with an initial emphasis on programs for staff at Vakko's own properties, aiming to elevate service standards through Swiss-inspired methodologies. Complementing these educational efforts, Vakko supports research and knowledge-sharing via the Vitali Hakko Creative Industries Library, opened in 2011 as a tribute to the company's founder. Housed at the Atatürk Cultural Center and initially at Vakko's Nakkaştepe Fashion Center, the library holds over 15,000 volumes on fashion, art, architecture, and design, serving as a public resource for students, designers, and researchers. In hospitality, Vakko operates the Vakko Hotel & Residence Sumahan Bosphorus, a luxury boutique property in Istanbul's Çengelköy neighborhood, featuring 12 suites with panoramic strait views and amenities like a private hamam to exemplify high-end service training. These initiatives reflect the legacy of founder Vitali Hakko, who championed cultural and educational advancement since the 1990s through community investment programs. Vakko provides annual scholarships, such as 50% tuition reductions for first-year students at Vakko and full awards covering additional expenses for select talents, to nurture emerging professionals. The company also hosts prestigious events, including the 2025 Grand Prix d'Horlogerie de Genève (GPHG) world tour exhibition at its Bosphorus hotel, promoting luxury industries and cultural exchange.

Media Operations

Power Media, a division of Vakko Holding, was established in 1992 by Cem Hakko, the company's CEO and a music enthusiast, initially launching Power FM as a national pop radio station broadcasting international hits. The division expanded its scope over the years to encompass Power Türk FM, dedicated to Turkish music programming, and in 2003, it entered television with the debut of Power TV, focusing on music videos and entertainment, alongside Power Türk TV, which specializes in Turkish pop and rock content. These outlets operate from the Power Media Center in , a state-of-the-art facility housing studios and offices for approximately 160 employees, designed to support both audio and visual production. The division's content production emphasizes curated music playlists, with Power FM targeting contemporary pop audiences and Power Türk FM promoting domestic artists through dedicated segments and artist interviews. It also organizes live events, such as concerts and promotional broadcasts, and develops that aligns with Vakko's luxury identity, including sponsorships for high-profile music awards like the Grammys aired on Power TV. This integration extends to collaborative programming that highlights Vakko's shows and events, blending media outreach with the parent company's creative endeavors. The Power Media Center shares facilities with Vakko's broader operations, including education initiatives, to streamline production across divisions. Over time, Power Media has evolved from traditional to incorporate digital streaming capabilities via the PowerApp platform, enabling on-demand access to playlists, live streams, and exclusive content for global audiences. Key milestones include expanded coverage of cultural events, such as music festivals and award ceremonies, enhancing its role in Turkey's entertainment landscape. As of 2025, the division maintains ongoing operations with no significant structural changes, continuing to generate revenue for Vakko Holding primarily through , sponsorships, and content licensing.

Corporate Structure and Financials

Leadership and Ownership

Vakko Tekstil ve Hazır Giyim Sanayi İşletmeleri A.Ş. is a family-controlled company, with the Hakko family maintaining majority ownership through Vakko Holding A.Ş., which holds approximately 84.5% of the shares. The company has been publicly traded on under the ticker VAKKO.IS since July 1998, though the family retains a controlling stake via their holding entity. Founded by Vitali Hakko in 1934, the company underwent significant leadership transitions following his death in 2007, with his son Cem Hakko assuming the role of executive chairman of the board. Cem Hakko, who joined the company in 1981, continues to guide its strategic direction as of 2025, with no major leadership changes reported that year. Other family members, including Jeff Hakko, a board member and direct shareholder with about 0.43% of the company, contribute to the board's composition. The chief executive officer position has been held by Jaklin Güner since September 2014, overseeing day-to-day operations and serving as an executive director on the board. The board of directors, which includes key executives such as chief financial officer Özgür Karagözoglu, focuses on corporate governance principles aligned with Borsa Istanbul regulations. Governance structures emphasize sustainability initiatives, including commitments to net-zero emissions by 2050, and innovation in sustainable production practices like using recycled fibers.

Financial Performance and Recent Developments

Vakko Tekstil ve Hazir Giyim Sanayi Isletmeleri A.Ş. achieved of 9.862 billion Turkish lira (TRY) in 2023, marking significant growth from prior years, and further increased to 14.855 billion TRY in 2024, reflecting a 50.63% year-over-year rise driven by expanded domestic sales. The trailing twelve-month as of September 2025 stood at 16.58 billion TRY (approximately $495 million USD at 2025 average exchange rates). The 2023 annual was equivalent to approximately $424 million USD. Profitability metrics in 2024 showed a net profit margin of 0.88%, with net income reaching 806.49 million TRY, while the TTM net profit margin as of September 2025 is 0.73%, though the company encountered operating challenges evidenced by lower Q3 profitability. These figures highlight Vakko's resilience amid Turkey's economic volatility, including high inflation, while prioritizing cost management in core ready-to-wear and accessory segments, with a trailing twelve-month operating margin of 7.90% as of September 2025. Vakko's shares trade on the Borsa Istanbul under the ticker VAKKO.IS, with the stock price at approximately 58 TRY and a market capitalization of 9.35 billion TRY as of November 12, 2025. The company declared an annual dividend of 4 TRY per share, payable on April 17, 2025, underscoring a commitment to shareholder returns despite modest profitability. Key recent developments include the release of full-year 2024 earnings in March 2025, which detailed the revenue surge and operational hurdles. In November 2024, Vakko initiated a promotional discount campaign in partnership with Visa, offering reductions at its stores through April 2025 to boost consumer spending. Additionally, the company hosted an exclusive exhibition for the Grand Prix d'Horlogerie de Genève (GPHG) 2025 in Istanbul from October 15 to 20, enhancing its visibility in the luxury watch sector. On November 7, 2025, Vakko reported Q3 earnings with nine-month revenue of 13.01 billion TRY but Q3 net income of 0.22 million TRY, down significantly from the prior year. Vakko's revenue is predominantly domestic, with international contributions remaining limited and focused on select markets, as the company emphasizes recovery from inflationary pressures in Turkey. The 2025 Ordinary General Assembly of Shareholders convened on April 10 in Istanbul, approving key financial and governance matters for the year.

References

  1. https://www.reuters.com/markets/companies/VAKKO.IS/
  2. https://www.getron.com/stories/vakko/
  3. https://www.vakkoesmod.com/en/istanbul/vakko/history/
  4. https://necessities123.wordpress.com/2014/11/17/vitali-hakko-the-man-behind-the-legend-named-vakko/
  5. https://www.biyografya.com/en/biographies/vitali-hakko-65e6b275
  6. https://www.vakkohotelsumahanbosphorus.com/
  7. https://lareviewofbooks.org/article/turkeys-glorious-hat-revolution
  8. https://www.foodandfashionmag.com/post/a-turkish-high-end-brand-vakko
  9. https://www.vakkohotel.com/nisantasi
  10. https://www.tandfonline.com/doi/abs/10.1080/13556207.2019.1631590
  11. https://kids.kiddle.co/Vakko
  12. https://www.commencis.com/portfolio/vakko-redshift-service-delivery/
  13. https://www.vakko.com/en/sustainable-future
  14. https://www.vakko.com/en/men/ready-to-wear-c-30201
  15. https://www.vakko.com/en/women/ready-to-wear-c-30101
  16. https://www.vakko.com/en/suits/black-wool-silk-suit-p-M400356489-0002
  17. https://www.vakkorama.com.tr/en/women/clothing-c-20201
  18. https://www.vakko.com/en/fall-winter-collection-c-vk87
  19. https://www.vakko.com/en/women/vakko-women-ss-25-c-30104
  20. https://www.vakko.com/en/wedding-c-305
  21. https://www.vakko.com/en/wedding/wedding-dresses-c-30501
  22. https://www.vakko.com/en/leather-c-vk30
  23. https://www.trendyol.com/en/vakko-women-bags-x-b634-g1-c117
  24. https://www.vakko.com/en/women/scarves-c-3010301
  25. https://www.lottiewaterhousecurated.com/shop/p/vintage-vakko-silk-scarf-circa-1940-istanbul-one-of-a-kind-1
  26. https://www.vakko.com/en/women/jewelry-c-3010201
  27. https://www.vakko.com/en/brands/chimi-eyewear-b-1267
  28. https://www.vakko.com/en/sun-glasses/eyewear-p-M401340442-0014-0012
  29. https://www.vakko.com/en/home/home-decoration-c-30801
  30. https://www.vakko.com/en/home/table-textiles-c-3080303
  31. https://www.vakko.com/en/home/home-textiles-c-30803
  32. https://www.vakko.com/en/home/hobby-accessories-c-3080104
  33. https://www.vakko.com/en/cosmetics/perfumes-c-30901
  34. https://www.vakko.com/en/eau-de-cologne/leather-cologne-250-ml-p-M400240921-0001
  35. https://www.vakko.com/en/surdurulebilir-gelecek-uretim
  36. https://www.jcrer.com.tr/documents/Reports/jcrer_vakko_summary_2024-1.pdf
  37. https://www.vakko.com/en/
  38. https://www.vakko.com/en/address/stores
  39. https://play.google.com/store/apps/details?id=com.vakko.android
  40. https://www.vakko.com/en/corporate-communication
  41. https://www.vakko.com/en/frequently-asked-questions
  42. https://news.ehlgroup.com/ehl-partners-wtih-vakko-source-of-hospitality-education
  43. https://www.vakkoesmod.com/en/programs/long-term-programs/fashion-design-creation-education/
  44. https://ortaanadolu.com/portfolio/vakko-esmod-2/
  45. https://educationconsulting.ehl.edu/vet-by-ehl-vakko-school-of-hospitality-and-service
  46. https://assets-global.website-files.com/653f593defc3b96b5a118e9d/662a4609a9bf455bf05c0255_VAKKO%2520HOTEL%2520SURDURULEBILIRLIK%2520RAPORU%25202024%2520EN%2520%281%29.pdf
  47. https://www.vakko.com/en/vitali-hakko-kreatif-endustriler-kutuphanesi
  48. https://www.salom.com.tr/salomTurkey/haber/120339/vitali-hakko-creative-industries-library-at-ataturk-cultural-center
  49. https://www.gphg.org/en/news/the-gphg-in-turkey-for-the-first-time-0
  50. https://www.biyografya.com/en/biographies/cem-hakko-6b54edb5
  51. https://tecomgroup.com/projects/powerturkproject.html
  52. https://www.hurriyet.com.tr/gundem/radyodan-kazandik-televizyona-yatirdik-38473140
  53. https://www.designboom.com/architecture/rex-architecture-vakko-headquarters-and-power-media-center-complete/
  54. https://www.powerapp.com.tr/powerturk
  55. https://www.archdaily.com/12556/vakko-headquarters-and-power-media-center-rex
  56. https://www.marketscreener.com/quote/stock/VAKKO-TEKSTIL-VE-HAZIR-GI-64303281/company/
  57. https://stockanalysis.com/quote/ist/VAKKO/market-cap/
  58. https://www.bloomberg.com/profile/person/15111926
  59. https://finance.yahoo.com/quote/VAKKO.IS/profile/
  60. https://newsonline.chainedesrotisseurs.com/story/1812/turquie-jeff-hakko.html
  61. https://www.marketscreener.com/quote/stock/VAKKO-TEKSTIL-VE-HAZIR-GI-64303281/company-governance/
  62. https://simplywall.st/stocks/tr/consumer-durables/ibse-vakko/vakko-tekstil-ve-hazir-giyim-sanayi-isletmeleri-shares/management
  63. https://www.wsj.com/market-data/quotes/TR/XIST/VAKKOE/financials/annual/income-statement
  64. https://finance.yahoo.com/quote/VAKKO.IS/key-statistics/
  65. https://www.x-rates.com/average/?from=TRY&to=USD&amount=1&year=2025
  66. https://www.reuters.com/markets/companies/VAKKO.IS
  67. https://finance.yahoo.com/quote/VAKKO.IS/
  68. https://www.digrin.com/stocks/detail/VAKKO.IS/
  69. https://simplywall.st/stocks/tr/consumer-durables/ibse-vakko/vakko-tekstil-ve-hazir-giyim-sanayi-isletmeleri-shares/past
  70. https://www.vakko.com/en/visa-campaign
  71. https://www.gphg.org/en/news/gphg-2025-discover-the-90-competing-timepieces-and-the-world-tour-stages
  72. https://www.marketscreener.com/news/vakko-tekstil-ve-hazir-giyim-sanayi-isletmeleri-a-s-reports-earnings-results-for-the-third-quarter-ce7d5fd9d18bf627
  73. https://news-content.foreks.com/attachments/kap/4028328c96289c7301964052e8bc1e31.pdf
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