- The partnership will see Fawaz Alhokair Group collaborate with Trendyol Group to bring brand retail stores to the kingdom for the first time
- The Turkish brand is looking to open their first physical stores in the region, in collaboration with Fawaz Alhokair Group and Arabian Centres to continue to complement the brand’s online presence
Riyadh, Saudi Arabia: Fawaz Alhokair Group, the leading lifestyle and retail organization in Saudi Arabia has signed a letter of intent (LOI) with Türkiye’s leading e-commerce platform Trendyol. The partnership was endorsed at an official signing ceremony with H.E. Khaled A. al-Faleh[JA1] , Minister of Investment for Saudi Arabia, and Dr. Nureddin Nebati, Minister of Treasury and Finance of the Republic of Türkiye.[JA2]
The ceremony was attended by Trendyol Group President, Çağlayan Çetin, and Fawaz Alhokair Group Managing Director and CEO, Mohamad Mourad. The LOI will see Trendyol work closely with Fawaz Alhokair Group as it looks to open its first physical stores in the region as well as explore other collaborative opportunities for growth in the kingdom.
Çağlayan Çetin, Trendyol Group President, said: “I'm grateful to the ministers for their support throughout the establishment of the partnership between Trendyol and the Fawaz Alhokair Group, an excellent example for cross-border investment between our countries, enabled by technology. Today we're taking the first step of a strategically important partnership to boost the bilateral e-trade volume between Türkiye and the KSA. The goods that we'll be exporting to KSA through FAH are manufactured in 600 factories across Türkiye. Our medium-term goals include building local manufacturing capacity in the KSA as well. We believe that our partnership will be successful thanks to FAH's excellent operational capabilities and market knowledge combined with Trendyol's superb technology, extensive access to Turkish producers and sellers, logistics and manufacturing capabilities”.
Mohamad Mourad, Group Managing Director, and CEO, of Fawaz Alhokair Group, said: “Thank you to the ministers for their support today. Trendyol has consistently been raising the bar in its innovative approach to e-commerce fashion. We bring our own extensive expertise in omnichannel retail that we hope will support the growth of the brand in the kingdom and beyond. Both Alhokair Fashion Retail and Arabian Centres will play pivotal roles in growing Trendyol’s physical and digital footprint in Saudi Arabia.”
About Fawaz Alhokair Group
Fawaz Alhokair Group is a the largest vertically integrated lifestyle and retail organization in Saudi Arabia. It curates the best from across the international world of fashion, beauty, technology, dining and entertainment to create immersive lifestyle experiences for the kingdom. Bringing together the largest malls and retail centers portfolio in the kingdom, together with its Retail franchising business, Fawaz Alhokair Group offers a new era of lifestyle destinations both online and offline.
About Trendyol Group
Trendyol was established in 2010 to make a positive impact by offering a seamless e-commerce experience to customers and sellers. The trust of over 30 million customers and 300 thousand sellers propelled Trendyol to become the first decacorn in Türkiye and one of the top e-commerce platforms in the world. Trendyol maintains its ecosystem's leading R&D center, Trendyol Tech. With Trendyol Express, Trendyol operates one of the most rapidly developing logistics networks, and with Trendyol Go, Trendyol is more than a fashion destination in Türkiye, offering an instant food delivery service. With Dolap, one of the largest pre-owned goods platforms, Trendyol does its best to contribute to a circular economy and sustainability.