As part of its collaboration with the United Brands Association (BMD), the e-commerce platform Trendyol will invest USD 500m within three years to support 452 brands in the BMD in going international with their e-commerce, according to a statement from the company.
“E-commerce is an opportunity to increase foreign exchange inflow and value-added exports. The USD 500m investment will focus on technology, logistics, and marketing. We’ll also support increasing the recognition of Turkish products abroad,” said Caglayan Cetin, President of Trendyol Group.
As Turkey’s first decacorn with a valuation of USD 16.5bn, Trendyol offers Turkish products to 27 European countries and collaborates with more than 50 global e-commerce platforms. “Our goal is to raise the share of e-commerce to 33% of Trendyol’s total sales. We’ll help our tradespeople, SMEs, and brands to make sales across the world,” said Cetin. The company aims to reach an export volume of USD 1bn in 2023.
The 109 BMD member brands have 5,703 stores and more than 11,000 sales points in 140 countries as of December 2021, according to Sinan Oncel, Chairman of the BMD. “Apart from physical stores, the importance of online sales channels has increased. The new collaboration with Trendyol will be an opportunity for our brands,” said Oncel.
