Brand License Agreement with Sharp Corporation
In line with our strategy of enhancing collaboration with global trademarks, our 100% owned subsidiary, Vestel Ticaret A.Ş. signed a brand licensing agreement with Sharp Corporation on September 26th, 2014, for the development, manufacturing, sales and marketing of white goods under the license of Sharp brand for the European market. Under this agreement, Vestel Ticaret A.Ş. will be the exclusive distributor of Sharp branded white goods within Europe, which will be manufactured at Vestel Beyaz Eşya’s factories and Sharp Corporation’s production facilities in Asia. The operations are planned to be commenced from January 1st, 2015. We expect this alliance to enhance our competitiveness in the European market and increase the share of our branded white goods exports.