Since 1926 Until Today
Koç Group's history is full of bold steps, successful initiatives and many firsts.
Establishment and Development
Vehbi Koç (1901 - 1996) stepped into the world of trade at the age of 16, in 1917, in Ankara, after convincing his father to open a grocery store.
This small business, which marks the first steps of the Koç Group of Companies of the day, witnesses the World War I and the War of Independence, and starts to grow at a steady pace after the proclamation of the Republic.
With Ankara, a small Anatolian city, being named the capital of the Republic in 1923, construction activities gather momentum in this region. Vehbi Koç expands its business by adding construction materials and hardware to its portfolio.
Vehbi Koç completes the registration process for this store, which was named after his father, on May 31, 1926, with the name Koçzade Ahmet Vehbi. This is the date Koç Group of Companies is born and is considered to be the company’s official date of establishment.
This was when Turkey was just out of the War of Independence and was worn out because of the wars, all human and material resources were exhausted, the national economy was weak, and the people were poor.
The next milestone for the company established during these difficult times was when Koç moved from Ankara to Istanbul, opening businesses in this city that offered a more favourable economic environment, undertaking some contracting tasks, and expanding its field of activity with various dealerships and agencies.
Going Public and Focus to Export
One objective of Koç Group of Companies is to ensure accumulation of capital for realizing sizeable investments that will contribute to economic growth by directing the savings of the people to investment.
For this purpose, the Group decided to go public and for testing this practice, a portion of shares of Aygaz established in 1962 and Koç Holding in 1963 were offered to the employees of Koç Group of Companies. It was also decided to offer the shares of Kav, established in 1970, to the public.
At the end of 1973, 56% of the shares of Koç Yatırım ve Sanayi Mamulleri Pazarlama A.Ş. went public and the people were allowed to share the profit.
The shares of 15 companies operating under Koç Group of Companies are still being traded publicly.
Since 1970 Koç Group of Companies has been engaging in export activities in accordance with the rules of competition in the common market, and has established corporations for this purpose.
Mustafa V. Koç
Mustafa V. Koç, who served as the Chair of Koç Holding between 2003 - 2016, was an especially important figure in the history of Koç Group of Companies with his vision and goals.