CEO Insights Magazine

Effective leadership is essential for a company's growth, driving vision, fostering innovation, and building resilience. Emre Balduk embodies this high standard of leadership with remarkable proficiency. A Koc University Business Administration graduate, Emre's career began with internships and positions at Unicredit Istanbul Bank and PWC Istanbul, providing him valuable expertise. He later joined his family company, Nazar Tekstil, where he currently serves as Chairman and CEO, since July 2022, following the passing of his esteemed father, Mehmet Balduk. Emre also completed the Harvard Business School Online CORe program, further enhancing his leadership and strategic thinking skills. Motivated by a desire for continuous learning and innovation, Emre leads Nazar Tekstil alongside his sister and cousin, steering the company towards sustained success. Let’s hear more from him in this one on one interaction.

Could you share details about your leadership approach? What principles or methodologies guide you in your leadership role?

My leadership approach is shaped by a participatory and innovative style, focusing on involving team members in decision-making processes and valuing their opinions. I believe that a collaborative environment fosters creativity and improves overall performance. Additionally, I encourage a culture of continuous learning and development, recognizing that growth and innovation are driven by ongoing education and skill enhancement. In line with this belief, we established the Mehmet Balduk R&D Center, emphasizing the critical role of research and development in our organization. The education I received from Harvard Business School has significantly enhanced my strategic thinking and problem-solving skills, allowing me to guide my team more effectively and drive the organization toward achieving its long-term goals.

Could you provide details on the sustainable practices implemented in Nazar Tekstil’s operations & the company’s vision for a sustainable future?

Nazar Tekstil has made substantial advancements in sustainability. We generate energy from renewable sources, including wind, solar, and hydroelectric power. In 2023, we produced a total of 58,800 MWh of green energy, which significantly covered our electricity consumption. To ensure a sustainable future, we continue to invest in renewable energy, adopting energy-efficient and environmentally friendly production practices. These efforts are part of our ongoing commitment to reducing our environmental footprint and promoting sustainable development within the textile industry, ensuring that our operations align with global sustainability standards and contribute positively to the environment.

What key factors do you take into account when presenting an offer to your customer?

Customer satisfaction and needs are our top priorities. When preparing our proposals, we consider several key factors: providing high-quality products and services, ensuring cost efficiency, and incorporating sustainability elements. Additionally, we strive to add value to our customers by offering innovative solutions and technological integrations. We also focus on maintaining strong communication and understanding our customers' unique requirements, ensuring our offers are tailored to meet their specific needs and exceed their expectations.

What are your goals for the future?

In 2024, we will concentrate on three primary areas: Technological Innovation, Sustainability, and Optimization of Business Processes. Our technological innovation efforts include launching AI-based projects like Cotcast which excels in cotton price forecasting with a high accuracy rate and an average forecast error of only 0.56 percent. This platform will enhance data analysis, price forecasting, and operational decision-making, providing strategic advantages in cost management. We aim to grow Cotcast to a unicorn with a $1 billion valuation within five years and plan to take it public in New York or London.

For sustainability, we are committed to reducing our environmental footprint by investing in renewable energy projects. This includes constructing new solar energy plants and improving energy efficiency in our existing facilities. In our cotton yarn production, we aim to adopt a sustainable production model by increasing environmentally friendly practices, thus promoting sustainable growth.

To optimize business processes, we plan to make continuous improvements through automation, redesigning process flows, and implementing training programs to develop our employees’ skills. By leveraging technological solutions like Cotcast, we aim to achieve operational excellence, providing faster and higher-quality service to our customers. Additionally, the SAP S4/HANA project with Felece Company will play a crucial role in our digital transformation, enhancing data integrity and operational efficiency. We also have a strategic plan to go public on the BIST (Borsa Istanbul) within five years for Nazar Tekstil. These focus areas will strengthen our company internally and solidify our market position in 2024.

Based on my robust industry experience, what guidance would you offer to emerging leaders in the field?

I advise new generation industry leaders to prioritize continuous learning and innovative thinking. Embrace a participatory leadership style that values teamwork and fosters collaboration among diverse talents. Sensitivity towards sustainability and environmental responsibility should be central to their strategic vision, ensuring long-term success and positive societal impact. By integrating these principles into their leadership approach, emerging leaders can navigate challenges effectively and drive sustainable growth in the evolving business landscape.

Emre Balduk, Chairman & CEO, Nazar Tekstil

Emre Balduk graduated with a degree in Business Administration from Koc University in 2011. Following his tenure at renowned companies such as PWC and Unicredit, he joined the family business, Nazar Tekstil. He further enhanced his leadership and strategic thinking skills by completing the Harvard Business School Online CORe program. Emre Balduk currently serves as the Chairman and CEO of Nazar Tekstil, the Chairman of Akedas Elektrik Dagıtım AS, and the Co-Founder and CEO of Cotcast.