Trendyol is increasing to Azerbaijan, a senior official stated Sunday, marking the Turkish e-commerce large’s second market overseas after Germany.
The on-line market has signed a cooperation settlement with main Azerbaijani conglomerate Pasha Holding, an announcement by the corporate stated on Monday. The two will type a joint firm for e-commerce actions.
The transfer comes after Trendyol launched in Germany a yr in the past, marking its first market exterior Türkiye and its entry into Europe. The platform additionally plans to launch within the Netherlands, Luxembourg and London quickly.
The transfer will enhance commerce quantity between Türkiye and Azerbaijan, Industry and Technology Minister Mustafa Varank stated throughout Teknofest, Türkiye’s premier aerospace and expertise competition in Istanbul.
Varank stated Türkiye-Azerbaijan relations are primarily based on the “one nation, two countries” idea, including that bilateral financial ties have just lately moved to a unique dimension.
“I went to the opening of Trendyol’s Berlin office before; we will now see Trendyol in Azerbaijan,” he stated.
Çağlayan Çetin, the top of Trendyol Group, stated the 2 companies had taken step one, and the brand new web site will begin its operations as of Wednesday.
The agency, nonetheless, will totally begin its actions in Azerbaijan as soon as the infrastructure work is full, he added.
Last yr, the first supply of overseas orders to Trendyol was Azerbaijan, Çetin stated.
He shared that based on the cell information evaluation platform App Annie, Trendyol was probably the most downloaded software in Azerbaijan in 2022.
Çetin harassed that the synergy created by Pasha Holding’s experiences within the Azerbaijan market and Trendyol’s expertise, logistics and manufacturing competencies will make important contributions to the event of the Azerbaijan e-commerce ecosystem.
“In this sense, we wholeheartedly believe in the success of the strategic partnership established and its positive impact on the brotherly country Azerbaijan,” he stated.
Explaining that one of many priorities of Trendyol’s future imaginative and prescient is getting into overseas markets, he added: “This initiative will strengthen the cooperative relations between Türkiye and Azerbaijan by facilitating cross-border trade and contributing to economic growth in the region.”
Jalal Gasimov, the CEO of Pasha Holding, stated curiosity in e-commerce in Azerbaijan is growing because of the large product vary and aggressive costs.
While this settlement will present entry to a broader product vary at advantageous costs, it’s going to additionally provide monetary services of Azerbaijani firms, he stated.
“In addition to facilitating technology transfer, this initiative will improve the logistics ecosystem, add value to different areas, create new job opportunities, encourage e-commerce culture, enable SMEs to sell online, and reduce the informal economy,” he stated. “Thus, we expect this initiative to increase foreign investment in the country.”
Founded in 2010, Trendyol, considered one of Türkiye’s best-known e-commerce platforms, has gained backing from overseas buyers and is main within the nation’s fragmented e-commerce market.
Trendyol 2021 grew to become Türkiye’s first “decacorn” – a time period for startups whose valuation passes the $10 billion mark.
Source: www.dailysabah.com
