1. 4 February 2019
Ege Ertem,
Zorlu Ventures
A Family Enterprise
Perspective
European Entrepreneurship &
Innovation @ Stanford Engineering

2. Overview of Zorlu Family Conglomerate

3. 1953
The foundations of Zorlu
Holding are laid in Denizli
Babadağ.
Haji Mehmet Zorlu lays the
foundations of Zorlu
Holding in 1953 by
establishing Zorlu
Mensucat in his hometown
Babadağ, Denizli, a textile
hub. The first store in
Denizli is opened in 1957
and the first order from
outside Denizli is received
in 1959. 1960
The second store opens in
Trabzon.
1966
Contract manufacturing
begins in Istanbul. TAÇ is
born.
1976
Korteks factory is
established in Bursa.
1990
Zorlu Holding PLC is
founded
1993
Zorlu Energy Electricity
Production PLC is
established
1994
Vestel, an electronics and
white goods manufacturer
in Turkey, joins the group.
1997
Zorlu Linen, the largest
manufacturing facility for
home textiles in Europe
and the Middle East, is
founded.
Denizbank is founded.
Zorlu Grand Hotel beings
its operations in Trabzon.

4. Insurance Tourism
Energy
TextileSocial Foundation
Consumer Elec. Mining Real Estate

5. 5
Why 35 Million
Device Production
Capacity
#1 Exporter (in nr)
In Turkey
$ 5.5 Billion
Revenue
#1 Clean Energy
76% In Turkey
20% Share
of TVs in Europe

9. Family Enterprise Governance Model
Has its own board which
includes independent
representatives.
Each company has its
own board which
includes independent
representatives.

10. Family Enterprises Ecosystem
In Turkey

11. Tara Family
TURKEY TOP 10
TOTAL
EXPORT

12. Automotive
Consumer Durables
Energy/Oil
Defense
Finance
Retail
Transportation
Foundation
Education
Construction
Information Tech.
Tourism
Restaurants
Total Revenue (2016): $19.15 Billion

13. Industrial
Finance
Retail
Insurance
Energy
Chemicals
Education/
Foundation
Other
Previously
Total Revenue (2015): $18.11 Billion

15. Challenges Family Conglomerates faces

16. Specialists versus Generalists
Risk Taking
Welcomes Ambiguity
Balanced Portfolio
In Depth Product Focus
In Depth Expertise
Established Stock Markets

17. EV Charging Solar EnergyBattery
Production
Silicon Valley EV Production
New Businesses

18. Family Enterprise Innovation Model
Innovation Process:
Innovation Framework:
Profit Model Product
Features
Product
Ecosystem
Services Go to
Market
Model
Competitive &
Startup Innovation
Analysis
Project
Portfolio Creation
Iterative
Implementation

19. Startup Investments