OPERATIONS MANAGEMENT GOLDAS JEWELRY San Diego / 2010 About Company Goldas Jewelry was founded in Istanbul, Turkey by Yal? nkaya Group in 1993. Goldas has an 18 million unit production capacity per year with ISO-9001 quality certificate. Their products are exported to 48 countries in 5 continents. Goldas has representative offices in UK, USA, Germany, Russia, UAE, Thailand, South Africa, China, Hong Kong and Ukraine. And also, Goldas has the ability to make on-line sales to the entire world through their website. Competitive Advantages Goldas jewelry is the only jewelry company in Turkey that is open to the public.
Their domestic and international sales network is strengthening with new stores. Profilo Shopping Center is the latest domestic store. After the store opened in Dubai; the new stores in Dusseldorf- Germany and in Russia are expected to enter service. A total of 8 million convertible capital partnership between German Development Bank DEG and Goldas is being discussed regarding the allocation of resources and credit to be given has not yet become clear. Goldas realizes their domestic and international sales, in their 3,500 m2 facility where they produce gold and silver jewelry.
Goldas has the capacity to produce 12 tons of precious metals per year. The company creates more than 2,500 new products each year and the a total of 30,000 more than the model 8, 9, 10. 14, 18, 21 and 22 carat gold and the production of precious and synthetic stones. Goldas is operating in Istanbul, Taksim, Nisantasi, Profilo Shopping Center, Sask? nbakkal and Galleria, Ankara Migros Shopping Center, and Izmir Alsancak with a total of 7 stores. The company’s overseas shops including two stores in the United Arab Emirates Sharjah and Dubai.
Within a short time they expect to expand to Dusseldorf, and Russia. Goldas aims to reach 30 stores in 2010; and within 5 years expand to 100 stores. The 40% of the domestic sales of the company is in the Mediterranean region, 25% of it is in Aegean, 20% of it is in Marmara and 15% of its domestic sales realizes in other regions. Goldas’ major domestic competitors are Atasay and Arpas jewelry. Goldas exports to 5 continents, predominantly to the EU countries, USA, Africa and the Middle East and Asia and exports to 31 countries in total.
The company also has international marketing activities in New York Goldart Int. Goldart UK Ltd in London, such as Moscow, Dubai, and Dusseldorf with international representatives. Free zone branches are also available. Goldas is Turkey’s first virtual jewelry. The company turned into retail sales via the internet in 2000. Goldas has official license of The Walt Disney Company and Warner Bros. characters in Turkey and also have signed license agreements with New Line Cinema, and Gamma Media in 2002 and then has added production Harry Potter, The Lord of the Rings and famous characters such as Barbie jewelry.
Goldas is also produces a line Turkey’s three major sports clubs products which are Galatasaray, Fenerbahce and Besiktas. Forecast Sales On the basis of the amount of total sales of Goldas in 2009, according to 2008 its total sales increased by 0. 5% to 12. 9 tons; while net sales observed on the basis of U. S. $ increased 5%. This increase derives in the average ounce of gold price of U. S. $. In 2008 a dollar was 1. 468 Turkish liras; and in 2009 a dollar was 1. 506 Turkish liras.
According to the same period the previous year 2002 domestic sales increased by 23%, while international sales decreased 27%, as a result, the share of exports in total sales from 36% to 25% decreased. Especially with the increased impact of income from tourism to domestic sales, the United States and Europe cause an increase due to Christmas and New Year in the last quarter of the year to increase sales and share of exports can be expected to increase again to 30%. US $ (Million)| 2005| 2006| 2007| 2008| 2009| Net sales| 105| 150| 188| 205| 225| Basis operating profit| 10| 13| 21| 18| 21| Net profit | 8| 12| 22| 19| 24|
Strengths: Goldas, due to the raw material used for the gold, is tax-exempt for income due to the advantages of the valuation. Progress towards becoming an international company that Goldas, in the U. S. market and the Frankfurt stock exchange are traded Lay. Research brings importance to development investments for Goldas each year with new products developed around 2. 500 is trying to become different. Weaknesses: They have been negatively are affected by the company’s short-term loans with high amount interest rates Net foreign currency debt position also changes in exchange rates against the fragility increase.
Threats: Counterfeit products from small firms cause a negative effect on the lifespan of the product. Opportunities: Aiming to grow abroad, the German development bank for Goldas resource allocation can be provided DEG’den capital partnerships; the company’s international activities will provide great advantages. Medium-term risk of a possible war in Iraq, there continues to be an increase in the price of the company’s sales and other operating revenue due to a positive impact on profitability can be expected. References * http://74. 125. 77. 132/search? =cache:NNY1ZdUrxMMJ:www. huist. org/KaliteYonetimi/11Grup_TURKIYEDE_TKY_UYGULAMALRI. ppt+Golda%C5%9F+Kuyumculuk+1993+y%C4%B1l%C4%B1nda,+Merter,+%C4%B0stanbul%27da,+Yal%C4%B1nkaya+Grubu+taraf%C4%B1ndan+kuruldu. +ISO-9001+kalite+belgesiyle+%C3%BCretim+yapan+Golda%C5%9F+y%C4%B1lda+18+milyon+adet+%C3%BCretim+kapasitesine+sahiptir. +5+k%C4%B1tada+48+%C3%BClkeye+%C3%BCr%C3%BCnlerini+ihra%C3%A7+etmektedir. %C4%B0ngiltere,+ABD,+Almanya,&cd=3&hl=tr&ct=clnk&gl=us * http://www. goldas. com/Kurumsal/eng/corporate/vision_mission. aspx * http://www. haberler. om/goldas-dan-ilk-9-ayda-rekor-kar-artisi-haberi/ * http://www. hisse. net/forum/archive/index. php/t-6219-p-5. html * http://www. hisse. net/forum/archive/index. php/t-2775-p-28. html * http://www. goldas. com/Kurumsal/investor_relations/annual_reports. aspx * http://www. goldas. com/Kurumsal/corporate/milestones. aspx * http://www. goldas. com/documents/yillik_raporlar/goldas/tr/yillik_rapor_2008_v2. pdf * http://www. goldas. com/Kurumsal/investor_relations/financial_statements. aspx * http://www. goldas. com/Kurumsal/investor_relations/price_expectations. aspx