China’s Alibaba to invest in Turkey’s Trendyol
ISTANBUL
Chinese internet giant Alibaba has decided to invest in Turkish e-commerce firm Trendyol, the Turkish company said in a statement on June 28.
Trendyol, one of Turkey’s best known online fashion retailers, has drawn backing from foreign investors and holds a leading position in Turkey’s fragmented e-commerce market.
“With the agreement, Alibaba and Trendyol will work together to increase Trendyol’s growth inTurkey and its surroundings,” Trendyol said in the statement.
Alibaba and Trendyol did not give any further details on the investment’s size and timing.
