Turkey's famous e-commerce platform, Trendyol, arrives for the first time in Europe through a launch in Germany. This marks Trendyol's first market outside its home country, while plans are being developed to also launch in London, the Netherlands, and Luxembourg in the coming year.
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Trendyol is characterized as an online marketplace that also offers its own food and grocery delivery solution, as well as its own digital wallet. Currently, the company has more than 30 million customers and more than 260,000 sellers.
Expansion plans in Europe had already been announced in 2020. By August 2021, the platform had raised $1.5 billion from Softbank. This made it the first "decacorn" in Turkey - whose value is considered to be over $10 billion - In addition, Alibaba had invested almost 300 million euros, acquiring a majority stake.
In accordance with Trendyol, its mobile app has been downloaded almost one million times in Germany today. At the same time, according to Similar Web, it is the second fastest growing fashion platform in the country as of February 2022.
In this regard, the German market is expected to generate more than 400 million euros by the end of the year. It is also expected to reach a turnover of more than 3 billion euros by 2025 in Germany.
The branch that the platform will open in Germany will first focus on fashion but plans to offer new categories in the future. To achieve these goals, it will open an office with more than 200 employees located in the city of Berlin.
With Germany expected to represent the starting point for the platform across Europe, around 65,000 square meters of warehouse space on the continent is expected to become available over the next two years to support expansion into local markets.
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