“This is my code:
I live and prosper with my country”
Vehbi Koç
1926
Establishment years...
Vehbi Koç, at age 16, took over the family store in Ankara, the nation's new capital, listing it with the Ankara Chamber of Commerce on May 31, 1926.
This date symbolizes the birth and official foundation of Koç Group.
The first joint stock company: Koç Ticaret A.Ş.
Vehbi Koç established Koç Ticaret Anonim Şirketi in 1938. This company acted as the cornerstone and development center for the initiatives that over time produced Koç Group. Koç Ticaret is also known as the first company in Turkey to give out company stakes to executives.
Vehbi Koç developed business in Ankara and Istanbul as the representative of foreign companies. He traveled to Europe and the United States, establishing the first Turkish company in the U.S., Ram Commercial Corporation.
First industrial ventures…
The Group entered the manufacturing sector in the late 1940s. A joint venture agreement with General Electric was signed in 1948 and Turkey's first electric light bulb factory was opened in 1951.
In the 1960s Vehbi Koç developed cooperation, partnerships and license agreements with leading international companies and established a variety of industrial enterprises. Turkey's first automobile, farm tractor, truck, refrigerator, washing machine, water heater, compressor, LPG cylinder, glasswool, engine block and cable were all manufactured by Koç Group during this period. Partnerships of Tofaş (with Fiat), Türk Siemens (with Siemens) and Mako (with Magneti Marelli) were established. Later on, the business relationship with Ford evolved into Ford-Otosan partnership.
Expansion of areas of activity
New ventures resulted in a significant expansion of Koç Group's areas of activity. The Group operated in a broad range of business areas, expanding from agricultural equipment to textiles, from office equipment to heating devices, from radio and television receivers to household appliances such as refrigerators, washing machines and vacuum cleaners, from ranges, ovens, glass wool, furnaces, radiators and LPG to production of automobiles, commercial vehicles and motorcycles and the establishment of an automotive component manufacturing industry, from packaged foods to retail chains, tourism, finance and insurance services.
The first Turkish car Anadol, was introduced to the market by Otosan in 1966, a pioneering step for Koç Group.
Establishment of Koç Holding A.Ş.
Rapid growth and diversification call for an ensuing organizational structure reflecting a higher degree institutionalization. After consultation with local and international experts on business management and corporate organization, Koç Holding A.Ş. was founded in 1963 with Vehbi Koç as Chairman of the Board.
Growth, first public offering and exports
The pace of Koç Group's growth continued unabated in the 1970s. Ten new companies joined the Group including Döktaş, an iron foundry that made various parts for the automotive industry.
One of the objectives of Koç Group is “to secure capital for large investments that would contribute to the economic development of Turkey by directing the savings of the population to investment”. The Group focused on public offerings in order to achieve this. Part of the shares in Aygaz (founded in 1962) and Koç Holding were sold to Koç Group employees and shares in Kav match factory (founded in 1970) were sold to the public.
Following the 1970s, Koç Group began concentrating on exports and establishing foreign trade companies parallel to changes in economic realities and competitive market conditions.
1987: Businessman of the Year
Vehbi Koç was named Businessman of the Year by the International Chamber of Commerce (ICC). The award, considered the Nobel Prize of international commerce, was presented to Vehbi Koç in New Delhi by Indian President Rajiv Ghandi.
Second generation takes over
Vehbi Koç, a great believer in institutionalization, turned over the position of Chairman of the Board to his son Rahmi Koç in 1984 although Vehbi Koç maintained his involvement in the business as Honorary Chairman of Koç Holding.
Banking...
Koç Group entered banking in 1986 with a joint venture with American Express Company that created Koç-American Bank.
The 1990s…
Stable growth continued for Koç Group. Investments were made in new manufacturing facilities and Koç acquired all shares in Koç -American Bank, renaming it Koçbank in 1992.
Otosan began to manufacture Ford Escort passenger cars, a milestone for the development of the Turkish automotive sector.
Koç University, Turkey's second private institution of higher learning, was established and began education.
UN World Population Planning Award
Vehbi Koç received the United Nations World Population Planning Award for his work at the Turkish Family Planning Foundation. UN Secretary General Boutros Boutros Ghali presented the award to Mr Koç on June 14, 1994 in Geneva.
February 25, 1996: The end of an extraordinary life
Vehbi Koç passed away on February 25, 1996 at the age of 95, the end of an extraordinary life marked by constant activity and achievement.
A new vision for the new millennium
Koç Group entered the new millennium with a new global vision: by developing the strength of our brands and technological prowess and focusing on those sectors in which we have competitive advantage, to maintain leadership in all our businesses, increase exports, attain sustainable growth and rank among the world's most respected companies.
Third generation assumes command
Rahmi M. Koç turned over the chairmanship of the Board to his eldest son Mustafa V. Koç on April 4, 2003. With this change, the third generation of the Koç Family assumed command. Rahmi M Koç continues his involvement as Honorary Chairman of Koç Holding and member of the Board of Directors.
2005: A milestone for Koç Group
2005 was a milestone in the history of Koç Group as it acquired majority shares in Tüpraş, Turkey's largest industrial enterprise and Yapı Kredi Bank, a Turkish banking giant, continuing on its path of sustainable growth.
Koç Holding signs the UN Global Compact
A strong sense of corporate citizenship has been an inherent part of Koç Holding since its establishment. With the signing in 2006 of the United Nations Global Compact, this became an official policy of international dimensions.
Turkey's largest… and one of the most admired in the world…
Koç Group's revenue, net income, exports and headcount make it Turkey's largest industrial conglomerate and a driving force within the Turkish economy. The Group is strengthening its position in the world as well; today it ranks as the 49th largest company in Europe and the 190th in the world.
Koç Holding's unchanging objective is to create ever higher added value for all its stakeholders. It manages all its activities according to international standards of corporate governance, customer satisfaction, social responsibility and environmental protection principles.
“Believing in change and succeeding through change”
Koç Group carries on the journey which began in 1926, continuously growing and moving forward…
2008...