Koton/Yılmaz: Generation Z Has a Spending Potential of $316 Billion Annually

In the first Entrepreneurship Course launched in Turkey by Istanbul Okan University, Gülden Yılmaz, the Co-Founder of Koton, was a guest. Yılmaz shared her story of entering the clothing industry and her experiences in business with the students.

Yılmaz highlighted that due to the declining fertility rate, Turkey has now entered the category of very old countries, and the number of individuals living alone is steadily increasing, noting that they shape their sales strategies according to such changing consumer needs: “According to research, the Generation Z born between 2000 and 2016 has a spending potential of 316 billion dollars per year. They are influenced by influencers when shopping. A study conducted in the U.S. states that 49% of cosmetic consumers are under the age of 14. They prioritize permanence and sustainability, leading them towards vegan and sustainable products. Additionally, a new group is emerging—teenagers (ages 13-18). We analyze trends at the company. We could launch a new brand specifically for teens,” she said.

Emphasizing that “there is no such thing as impossible,” Yılmaz advised young people to collect their competencies, stay curious, question things, be good and careful observers, dream, conduct risk analysis, focus on the topics of interest, motivate themselves, and never lose their determination.

Yılmaz noted that stepping out of one's comfort zone is crucial for entrepreneurship: “When I was 21 and my husband was 24, we dreamed of Koton. In the end, we succeeded. You have to think differently and step outside ordinary thoughts,” she reminded.

At the end of her talk, Gülden Yılmaz answered questions from the students at Istanbul Okan University.