Executive Summary

• Alibaba has announced an investment in Turkey’s leading online fashion shopping site, Trendyol. According to Alibaba, it is the largest transaction in Turkey’s Internet sector to date.
• The partnership brings benefits to both parties. Alibaba’s strengths in technology, e-commerce, mobile payments and logistics will help Trendyol, the largest and fastest-growing e-commerce player in Turkey, to grow, while Trendyol will help Alibaba to advance its globalization positioning in the Eurasia region.
• This latest foray into online fashion retailing follows a series of e-commerce investments that Alibaba made in India. We believe the company is likely to continue its expansion in the Eurasia region.
• This strategic partnership follows China’s One Belt-One Road (OBOR) initiative: to expand global trade for small and medium-sized enterprises (SMEs).