Trendyol continues its growth abroad with Azerbaijan – Last Minute Economy News
The agreement was signed by Trendyol Group President Çağlayan Çetin and Pasha Holding CEO Jalal A. Gasimov at the ceremony held with the participation of Industry and Technology Minister Mustafa Varank at TEKNOFEST, the world’s largest aviation, space and technology festival. Within the scope of the agreement, Trendyol and PASHA Holding will establish a company that will conduct joint e-commerce activities in Azerbaijan.
Mustafa Varank, Minister of Industry and Technology, recalled that he previously attended the opening of Trendyol’s Berlin office and said, “Today we see Trendyol in Azerbaijan as the second address. In cooperation with Azerbaijan, we will introduce a brand of Turkey, the joint brand of Azerbaijan and Turkey, to the world from a different perspective.”
Trendyol Group President Çağlayan Çetin said, “The synergy created by PASHA Holding’s experience in the Azerbaijani market and Trendyol’s technology, logistics and manufacturing capabilities will make a significant contribution to the development of Azerbaijan’s e-commerce ecosystem. In this sense, we wholeheartedly believe in the success of the strategic partnership to be established and the positive impact it will have on our brother country Azerbaijan.”
Jalal Gasimov, CEO of PASHA Holding, said: “Consumers in Azerbaijan have been demanding for a while for Trendyol to become active in our country. With the signed partnership agreement, we have taken an important step to strengthen our presence in the digital retail ecosystem. We are delighted to ensure the transfer of e-commerce know-how between the two brother countries with the agreement.”
Trendyol, the leader of Turkey and one of the world’s leading e-commerce platforms, enters the Azerbaijani market. After signing a cooperation agreement for the Azerbaijani market with PASHA Holding from Baku, one of the largest holding companies in the Caucasus, Trendyol takes another important step in its global growth strategy. The signed agreement between Trendyol and PASHA Holding establishes a joint company that will operate in the e-commerce sector in the Azerbaijan market.
THE TWO COUNTRIES’ TRADE VOLUME WILL FURTHER INCREASE
The signing ceremony at TEKNOFEST, the world’s largest aviation, space and technology festival, was held with the participation of Industry and Technology Minister Mustafa Varank.
Noting that Turkish brands want to carry the momentum they have achieved in Turkey in e-commerce abroad, Minister Varank said: “For that I went to the opening of Trendyol’s Berlin office. Today we will see Trendyol in Azerbaijan as the second address. Trendyol is currently one of the most used brands in Azerbaijan, but now continues as the brand of Azerbaijan. The trade volume between the two countries will continue to increase in the near future. There is great competition in the world. We should not miss this match. Hopefully, in cooperation with Azerbaijan, we will introduce a brand of Turkey, the joint brand of Azerbaijan and Turkey, to the world from a different perspective.”
SYNERGY CREATED BY STRATEGIC PARTNERSHIP WILL DEVELOP AZERBAIJAN E-COMMERCE ECOSYSTEM
Speaking at the signing ceremony, Trendyol Group President Çağlayan Çetin said: “We have taken the first step in our strategic partnership with PASHA Holding. From May 3, our branch in Azerbaijan will be opened for use. Once we have completed our infrastructure works, we will have fully launched our activities in Azerbaijan. Looking at the orders received from abroad by Trendyol last year, Azerbaijan ranks first. Moreover, according to mobile data analytics platform App Annie, Trendyol was the most downloaded application in Azerbaijan in 2022. The synergy created by PASHA Holding’s experiences in the Azerbaijani market and Trendyol’s technology, logistics and manufacturing capabilities will make a significant contribution to the development of Azerbaijan’s e-commerce ecosystem. In this sense, we wholeheartedly believe in the success of the strategic partnership that has been established and its positive impact on our brother country Azerbaijan.”
Emphasizing that opening Trendyol to international markets is one of his priorities in his vision for the future, Çetin continued as follows; “This initiative will also strengthen cooperation relations between Turkey and Azerbaijan by facilitating cross-border trade and contributing to economic growth in the region. This collaboration brings together two countries with complementary competencies for a mutually beneficial partnership.”
“WE WILL FOLLOW NEW OPPORTUNITIES”
Jalal Gasimov, CEO of PASHA Holding, made the following assessments:
“Interest in e-commerce has increased in Azerbaijan due to its convenience, wide product range and competitive prices. While this agreement provides easy access to a wider range of products at cost-effective prices; It will also offer financial products and services from Azerbaijani companies, especially those included in the PASHA ecosystem. So it will improve customer experience while improving overall financial health. In addition to facilitating technology transfer, this initiative will improve the logistics ecosystem and add value to various areas such as fast food markets and catering; will create new jobs. It will promote e-commerce culture, enable SMEs to sell online and reduce the informal economy. So we expect that this initiative will also increase foreign investment in the country.”
About Trendyol
Established in 2010, Trendyol is the leading and one of the world’s leading e-commerce platforms in Turkey. Trendyol continues to create value with Trendyol Tech, one of the leading R&D centers in Turkey, Trendyol Express, the fastest growing transportation network, Trendyol Go, which offers fast delivery of groceries and food, and Dolap, the largest second-hand goods platform. Trendyol brings together Turkish manufacturers with 27 European countries via trendyol.com/de and trendyol.com/en, exclusively for its customers in Germany. It also supplies domestic manufacturers’ products to customers around the world through nearly 90 global e-commerce platforms. Trendyol allows domestic manufacturers to e-export to over 100 countries. Trendyol will also serve its customers in Azerbaijan directly through its own platform.
About PASHA Holding
Founded in 2006, Azerbaijan’s leading corporate group PASHA Holding is active in many different sectors, mainly banking, insurance, construction, market, agriculture and hotel management. In addition to its traditional fields of activity, PASHA Holding is also active in the retail digital ecosystem with value-added services (such as Kapital Bank’s Birbank) and basic retail banking services. said services; The merchant-supported bonus program in major consumer categories includes B2C marketplace focused on consumer electronics, beauty products and goods, digital wallet services, and services in other industries.