Home / Companies

Alibaba buys stake in Turkish e-commerce company

Xinhua | Updated: 2018-08-16 16:24
Two models pose for Alibaba's e-commerce platform in Hangzhou, East China's Zhejiang province, Aug 16, 2018. [Photo/IC]

HANGZHOU - China's e-commerce giant Alibaba group has acquired a stake of its Turkish counterpart Trendyol, according to sources with Alibaba.

The investment in the leading Turkish e-commerce platform is part of Alibaba's bid to expand global business, the sources said. The pair is expected to create opportunities in reforms of e-commerce, digital payments and the retail value chain for Turkey.

Alibaba did not disclose the size of the deal.

Trendyol, which focuses on online fashion retail, was founded in 2010. It is a fast-growing mobile e-commerce platform in the Middle East and North Africa.

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349