Turkish eCommerce Firm Trendyol Expands to Berlin

Turkish eCommerce firm Trendyol has opened an office in Berlin, its first office outside of its home country, per a report in Tech Funding News.

The company said this will see it advancing more international growth plans.

The company will also be opening up offices in Amsterdam by this year and in London by 2023, and the company will be hiring 200 employees in Berlin.

In Germany, Trendyol will focus on fashion, with the expectation of offering more categories in time.

According to Trendyol, it plans to invest over half a billion dollars into expanding internationally, with a focus on investing in tech, supply chain optimization, marketing and more hiring. The company will reportedly be focused on building a fulfillment center to serve its core European customers.

Trendyol products have been rolled out on its own domain, but the company also makes products available on other platforms.

Trendyol will generate over 400 million euros through the end of the year, the report said, and by 2025 will increase its business volume in Germany to over 3 billion euros by 2025.

Çağlayan Çetin, president of the Trendyol Group, said the company has been seeing “strong growth” around the world, and by 2023 would be expanding its international volumes.

According to Çetin, the goal is to get a third of its sales going outside of Turkey within five years from now.

In July 2021, PYMNTS wrote that Trendyol had been close to finishing a new funding round to drive the company’s valuation to $16.5 billion.

Read more: Turkish eCommerce Platform Trendyol Reportedly Near Raising New Funding

The company, at 11 years old, has gotten a lot of fiscal support in the past from Alibaba, which increased its ownership in Trendyol to 86.5% after buying a majority share back in 2018.

The funding round at the time was expected to make Trendyol the lone Turkish firm valued above $10 billion.

As there had been a large increase in online shopping with COVID-19, Trendyol was one among many such firms globally to see a surge in support.