The online fashion retailer has drawn backing from foreign investors, holding an important position in Turkey’s fragmented ecommerce market, according to Reuters.
As part of the agreement, the two companies will work together to increase Trendyol’s growth in Turkey and its surroundings.
Alibaba and Trendyol did not give any further details on the investment’s size and timing. Earlier in June 2018, Alibaba has joined SoftBank to invest INR 15 billion (USD 222 million) in Indian ecommerce platform Paytm Mall.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now