Alibaba with further investment in Turkish eCommerce platform
Alibaba has invested USD 350 million in Trendyol, a well-known Turkish online fashion retailer. With this further investment, Alibaba now holds 86.5% of the company's shares. The Turkish e-commerce market is highly fragmented with high competitive pressures, with Trendyol having already announced plans to soon expand into Europe, e.g., the UK, Italy, and Spain.
This briefing is contributed by and first appeared on CIMK.
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