Jan 04, 2024

Turkish E-Commerce Trendyol to Enter the Czech Market

In the wake of Allegro and Kaufland’s successful foray into the Czech market last year, another player is poised to make its mark in 2024.

Trendyol, a Turkish online marketplace, is gearing up to enter the Czech Republic.

According to statements made by Trendyol representatives during a press conference in Baku in December, the company is eyeing substantial expansion in Eastern and Southern Europe this year.

“In the first quarter of 2024, we will penetrate the Eastern European market, commencing with Romania, Greece, Hungary, and the Czech Republic, with plans to broaden our presence across the region,” shared Trendyol CEO Erdem Inan.

He emphasized, “Our objective is to facilitate our 300,000 dealers to thrive in Europe, the Middle East, and Gulf countries.”

After establishing roots in the initial countries, Trendyol’s expansion will extend to Poland, Bulgaria, and Slovakia. Inan disclosed his ambitious targets, stating, “By the end of 2024, our aim is to cultivate two million active customers in Eastern European markets, surpass four million orders, and achieve $350 million in sales.”

Founded in 2010 by entrepreneur Demet Mutlu in Turkey, Trendyol’s majority stake was acquired by Chinese conglomerate Alibaba in 2018, currently owning 86.5%.

With a valuation reaching $16.5 billion in 2021, equivalent to approximately CZK 372 billion, the company evolved from an online fashion marketplace to offering a diverse range of products.

From cosmetics and electronics to books and sports equipment, Trendyol has expanded its portfolio, even venturing into food delivery with Trendyol Go. The company also operates a fashion second-hand store called Dolap and introduced its own delivery network, Trendyol Express.

In the Czech market, Trendyol will join established foreign players such as Kaufland and Allegro, along with local entities like internet leader Alza and price comparison engine Heureka.

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