Koç Holding was established in 1963. It is considered one of the largest industrial and financial groups in Turkey and was founded by Vehbi Koç. Vehbi Koç was born on July 20, 1901, in Ankara and passed away on February 25, 1996. He received his primary education in Ankara but did not receive formal university education due to economic conditions at that time and his early involvement in family business. The first business venture of the Koç family dates back to a small trade established by Vehbi Koç in the 1920s in Ankara. He started by opening a small store that sold a variety of goods, including groceries and household items. This store was considered the beginning of his journey in the business world. Vehbi Koç's early trade relied on meeting local market needs, and he soon managed to expand his operations by entering new fields and diversifying his commercial activities. Vehbi Koç is regarded as a pioneer in the field of industry and commerce in Turkey and has significantly contributed to the development of the Turkish economy by establishing and managing one of the largest trading groups in the country, initially starting operations in the field of general trade.
The headquarters of Koç Holding Group is now in Istanbul, due to business expansion and the need to be closer to the main economic center in Turkey. The group’s headquarters was moved from Ankara to Istanbul in 1950, and the city remains the company's headquarters to this day.
The sectors in which the companies have operated since their foundation
From 1960 to 1970, significant developments occurred within Koç Holding as the company expanded considerably in a variety of sectors. During this period, the group focused on strengthening and diversifying its activities in several main areas:
Manufacturing: Koç Holding made substantial investments in manufacturing, with notable investments in founding new companies entering the automotive industry and in producing electrical and electronic devices.
Automotive sector: The company established partnerships with foreign brands to enhance the automotive sector in Turkey. During this period, Koç Holding became a key player in the production and assembly of automobiles and commercial vehicles.
Finance and banking: The group expanded its operations in the financial sector and acquired shares in various financial institutions, enhancing its ability to support its industrial and commercial projects.
International expansion: During this period, Koç Holding began exploring international expansion through foreign investments and cooperation with international partners.
The 1960s and 1970s were crucial for Koç Holding in terms of laying the foundations for future growth and developing a strong presence in both the Turkish and international markets.
Agencies acquired by Koç Holding
In 1928, Ford Motor Company: The first agency acquired was with Ford Motor Company. Vehbi Koç established a partnership to distribute Ford cars in Turkey. This was a major turning point for the company, paving the way for Koç Holding to become one of the leading companies in the automotive sector in Turkey.
In 1931, Standard Oil: After successfully acquiring the Ford agency in 1928, Vehbi Koç obtained an agency for Standard Oil products. This agency represented an important step in expanding his business outside the automotive sector into petroleum products. The successful distribution of Standard Oil products contributed to enhancing Koç's reputation as a reliable distributor and opened doors for additional partnerships with other global companies.
In 1948, General Electric (GE): Following the acquisition of agencies for Ford and Standard Oil products, Koç Holding continued to expand its commercial agency range. A notable agency acquired was with General Electric (GE). Through this partnership, Koç Holding began distributing GE electrical products in Turkey. This move was part of the company's strategy to diversify its activities and enter new sectors such as electronics and home appliances, which contributed to enhancing its position as a multi-industry company.
In 1958, Siemens: After acquiring the General Electric agency in 1948, Koç Holding continued to expand its agencies. A notable agency was acquired with Siemens. Through this partnership, Koç started distributing Siemens products in Turkey, including a variety of electrical and electronic equipment.
In 1961, Massey Ferguson: After successes in acquiring agencies such as Ford, Standard Oil, General Electric, and Siemens, Koç Holding secured an agency for Massey Ferguson products. Massey Ferguson was specialized in manufacturing agricultural equipment, and this collaboration was a significant step towards Koç Holding's expansion in the agriculture sector and related industries. This partnership enabled Koç to enter the agricultural equipment market in Turkey.
In 1968, Fiat: Koç Holding acquired the Fiat agency by establishing Tofaş (Türk Otomobil Fabrikası A.Ş.) as a joint venture with the Italian company Fiat. This collaboration aimed at producing and distributing cars in Turkey, and since then, Tofaş has become one of the largest car manufacturers in the country.
In 1985, AEG: After acquiring agencies for several international companies in various sectors, Koç Holding secured an agency with AEG. AEG was considered one of the leading companies in manufacturing electrical and electronic devices. Through this agency, Koç Holding managed to expand its range of products in the Turkish market to include home and industrial electrical appliances.
Koç Holding's most important companies and brands
Tofaş: Tofaş, a partnership between Koç Holding and the Italian company Fiat, was established in 1968. Through this partnership, Koç Holding secured the Fiat agency in Turkey, enabling it to manufacture and distribute Fiat cars in the Turkish market. This move was part of efforts for industrial expansion and establishing a strong presence in the automotive sector.
Yapı Kredi: It is one of the largest and oldest banks in Turkey, founded in 1944. In 2006, it became part of the Koç Holding group through a partnership with the Italian UniCredit Group.
Opet: It is one of the largest fuel and energy distribution companies in Turkey, founded in 1992. In 2002, Koç Holding entered into a strategic partnership with Opet by acquiring a significant share of the company, which allowed both entities to enhance their positions in the energy and fuel market. Opet is distinguished by its extensive network of fuel stations across Turkey and provides a diverse range of products and services including gasoline, diesel, LPG, as well as lubricants and automotive-related services.
Arçelik: It is one of the largest and most well-known companies specializing in the manufacture of home appliances and electronics in Turkey and globally. The company was founded in 1955 and is part of the Koç Holding group. Arçelik products include a wide range of home appliances such as refrigerators, washing machines, dishwashers, ovens, televisions, and other electronic products.
Beko: Beko is a brand belonging to Arçelik A.Ş., which is part of Koç Holding. The brand Beko was established in 1955 and has since become one of the leading names in home appliances and electronics worldwide. Beko products include a variety of home appliances, such as refrigerators, washing machines, dishwashers, ovens, stoves, televisions, and many other electrical devices.
Grundig: Grundig is a well-known German brand in the field of electronics and home appliances and is part of Arçelik A.Ş., which is in turn part of Koç Holding. Grundig was a famous television and radio company founded in 1945 in Germany, gaining a strong reputation for the quality of its products and innovations. In 2007, Arçelik acquired Grundig, allowing the Grundig brand to benefit from the global support and vision of Arçelik.
Demir Döküm: Koç acquired Demir Döküm, which is one of the leading companies in the field of HVAC (heating, ventilation, and air conditioning) systems in Turkey. The company was founded in 1954 and is known for offering a wide range of solutions such as boilers, heaters, central heating systems, solar heating systems, and other related products.
Setur: It is one of the leading tourism and travel companies in Turkey and is part of the Koç Holding group. The company was founded in 1965 and provides a wide range of tourism and logistics services, including travel agencies, organizing tours, hotel and flight booking services, as well as managing marinas and yachts. A prominent brand in Setur’s portfolio is Setur Marinas, which operates a series of luxury marinas along the Turkish coasts, offering comprehensive services for yacht owners and sailing enthusiasts. These marinas are known for their quality and offer a distinguished maritime experience.
Aygaz: It is a leading company in Turkey in the energy sector, specifically in the distribution and sale of LPG (liquefied petroleum gas). The company was founded in 1961 and is part of Koç Holding, one of the largest corporate groups in Turkey. Aygaz operates in various energy-related fields including production, storage, bottling, and distribution of LPG throughout Turkey.
TürkTraktör: It is one of the leading manufacturers of tractors and agricultural equipment in Turkey. Established in 1954 as a joint venture between Koç Holding and CNH Industrial, which is part of the Fiat Chrysler Group. Since its establishment, TürkTraktör has played a fundamental role in the development of the agricultural sector in Turkey by providing high-quality agricultural machinery and contributing to the modernization of agriculture in the country.
KoçSistem: It is a subsidiary of Koç Holding that operates in the field of information and communication technology. The company was established in 1945 and is considered one of the leading companies in Turkey, providing integrated technology solutions for businesses and governmental institutions. KoçSistem services include a wide range of digital solutions such as IT infrastructure, cloud computing services, cybersecurity services, data analysis, Internet of Things (IoT), and other digital services that contribute to the digital transformation of businesses.
Marmaris Altınyunus: Now known as Setur Marinas, is one of the companies considered part of Koç Holding. It is one of the largest marina operators in Turkey, providing services in the field of maritime and leisure tourism. Marmaris Altınyunus was initially known for offering marina services in the Marmaris area, one of Turkey’s most beautiful coastal tourist destinations. Over time, and through integration into Setur, its services expanded to include several other marinas along the Turkish coasts, making it a key destination for sailing and yacht enthusiasts from around the world.
Ark İnşaat A.Ş: It is a company operating in the construction and building sector and is part of Koç Holding. The company plays an important role in implementing construction and infrastructure projects in Turkey. Ark İnşaat projects typically include the construction of commercial and industrial facilities as well as vital infrastructure projects.
Avis Kazakhstan: It is a branch of Avis, one of the largest car rental companies globally, and was part of the international operations of Koç Holding in the car rental sector. In Turkey, Koç Holding holds the rights to operate Avis and Budget through Otokoç Otomotiv, one of the major companies in the car rental sector.
Altınyunus Çeşme Turistik Tesisler A.Ş: It is one of the prominent tourism companies affiliated with Koç Holding, located in the Çeşme area, a popular tourist destination on Turkey’s western coast. The company was established to offer high-end hospitality and tourism services in this picturesque area. Altınyunus Resort is known as one of the largest and most luxurious coastal resorts in Turkey, offering a wide range of tourism services including luxurious accommodations and diverse leisure facilities such as pools, restaurants, and sports facilities.
Bal Kaynak Su A.Ş: It is a company operating in the production and distribution of bottled water. The company specializes in offering high-quality natural water sourced from pure origins.
THY OPET Havacılık Yakıtları A.Ş: It is a joint venture between Turkish Airlines and Opet, which is part of Koç Holding. This project was established in 2009 to supply aviation fuel to aircraft, and in a short period, it became one of the main suppliers of aviation fuel in Turkey. THY OPET focuses primarily on supplying aircraft fuel in Turkish airports, aiming to ensure efficient and reliable fueling operations. The presence of Turkish Airlines, one of the largest airlines in Europe, as a partner is a vital part of the project's success, providing a large and continuous customer base.
Token Ödeme Hizmetleri ve Elektronik Para A.Ş: It is a company affiliated with Koç Holding that operates in the field of digital financial services and electronic payment solutions. The company was established to develop innovative payment technologies and offer integrated financial services that meet the evolving needs of consumers and businesses in the Turkish market.
Setair Hava Taşımacılığı ve Hizm. A.Ş: It is a company operating in the aviation sector as a private airline in Turkey. Setair specializes in providing charter flight services and private aviation services for companies and individuals. Setair services include providing unique flight experiences that combine comfort and privacy, offering custom-designed flights with a high level of quality and various services to meet the unique needs of clients.
Koçtaş Yapı Marketleri A.Ş: It is one of the leading companies in Turkey in the retail of building and home improvement products and is part of the Koç Holding group. Koçtaş was established in 1996 and has since become a well-known name for providing a wide range of products for individuals and companies looking to improve and renovate homes or offices.
Körfez Ulaştırma A.Ş: It is a company specialized in rail transportation services and is one of the subsidiaries of Tüpraş, which is part of the Koç Holding group in Turkey. Körfez Ulaştırma was established to enhance logistics and transportation of refined oil products and petrochemical materials via the Turkish railway network.
Who have been the leaders of the company from its inception until now?
Koç Holding, as one of Turkey's largest industrial groups, has witnessed leadership from several prominent individuals from the Koç family since its founding. Here are some of the key names who have led the group:
Vehbi Koç: He is the founder of Koç Holding and led the group from its inception in 1963 until his retirement. Vehbi played a major role in laying the foundations and leading the group in its early years.
Rahmi M. Koç: One of Vehbi Koç's sons, he took over the leadership of the group after his father and played a significant role in enhancing Koç Holding's presence in global markets and its expansion into new sectors.
Mustafa V. Koç: He assumed leadership after his father Rahmi Koç and led the company from 2003 until his sudden death in 2016. He focused on international expansion and innovation.
Ömer M. Koç: He assumed leadership after the death of Mustafa Koç and continues to lead the group to this day, building on the Koç family legacy and strengthening its role in both the Turkish and global economy.
With changes in the company's leadership, Koç Holding has maintained its vision of sustainable growth, innovation, and expansion in business, contributing to its continuity as a key player in various sectors.