Doğuş Holding A.Ş. (Doğuş Group) is one of the largest private-sector conglomerates in Turkey, with a portfolio of 250 companies in 7 industries, including high-end car dealerships, retail stores, restaurants, cafés, construction companies, radio stations, TV channels and tourism businesses. The group used to own one of Turkey's largest private banks, Garanti, now part of BBVA.[1]
Background
Its foundations were originally laid in 1951 when Ayhan Şahenk made his first investments in the construction sector and transformed Doğuş Construction into a leading builder of Turkish roads, ports and hospitals. Doğuş Construction was founded June 17, 1966, the same year Antur Tourism was founded and Club Alantur in Alanya was acquired. He diversified into banking in the late 1970s. While Turkey evolved from a state-controlled economy toward market capitalism in the 1980s, he branched into importing and joint ventures in automotive, tourism and food, with giants like Volkswagen, Sheraton Hotels and Resorts, and ConAgra.
In 1989 Ayhan Şahenk's son, Ferit Şahenk, returned to Istanbul. His father sent him to apprentice at Garanti Bank (now Garanti BBVA