The e-commerce platform Trendyol opens an office in Berlin and thus the first location outside of the Turkish home market.
Trendyol wants to take this step in Europe, the company announced on Monday. By the end of the year, more than 200 employees will work in the new office and drive expansion in the fashion sector in Germany and Europe. Further offices are planned for this year in Amsterdam and Luxembourg. The London location is to follow in 2013.
In Turkey, Trendyol is active in several product categories. In Germany, the company is initially only concentrating on clothing, shoes and accessories. Other categories will be introduced at a later date.
The online retailer has set itself the goal of positioning Turkish brands and products internationally, which is active on its own platform in more than 100 countries. In addition to its own website, Trendyol’s products are also to be sold on other platforms. But other brands such as Hugo Boss, Q by S.Oliver and New Balanence are also available from Trendyol.
“Customer orientation is at the heart of our work in each of our markets. This has helped us become a brand trusted and loved by millions of customers in Turkey,” said Shibu Tharakan, Managing Director of International. “We want to repeat this success story in Germany and in other countries where we are expanding. For this we have designed our product range in such a way that it reflects the needs of our customers in Germany.”
Trendyol invests 500 million US dollars in internationalization
To drive its internationalization forward, the company plans to invest $500 million by 2025. The focus is on the further development of the technology, the optimization of the supply chains, marketing and new staff. In addition, the takeover of other companies would also play a role, according to Trendyol. In addition to the new offices, a new fulfillment center is also planned in Central Europe. The company already has a sales center in Poland.
“We continue to grow strongly as the market leader in our home market. Over time, Trendyol has built world-class capabilities that we can use to grow our business in Europe,” said Çağlayan Çetin, President of Trendyol Group. “We are strong ambassadors of global fashion and high quality Turkish fashion brands are at the forefront. By 2023 we want to increase our international volume more than fivefold and in five years we will already achieve a third of our sales outside of Turkey.”
By the end of the year, Trendyol wants to achieve sales of 400 million euros in Germany. By 2025, the business volume in Germany should grow to over three billion euros, according to Berlin.
About Trendyol
Trendyol was founded in Istanbul in 2010 as a fashion platform and now offers a wide variety of product categories on the domestic market. The company is active in more than 100 countries and employs 3,500 people at its headquarters in Istanbul. Trendyol is supported by the Chinese retail group Alibaba Group, which has already invested in the company several times.
“With strong strategic investors behind us and based on our operational capability, we look forward to significantly expanding our activities in Europe. We laid the foundation for this today with the office in Berlin,” says Çetin.