Fawaz Alhokair Group, the leading lifestyle and retail organisation in Saudi Arabia, has signed a letter of intent with Turkey’s leading e-commerce platform Trendyol.
The ceremony was attended by Trendyol president Çağlayan Çetin, group managing director Fawaz Alhokair and CEO Mohamad Mourad.
The LOI will see Trendyol work closely with the Fawaz Alhokair Group as it looks to open its first physical stores in the region and explore other collaborative opportunities in the kingdom.
Mr Çetin 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 Turkey and the KSA. The goods that we’ll be exporting to KSA through FAH are manufactured in 600 factories across Turkey. 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”.
Mr Mourad thanked ministers for their support. “Trendyol has consistently been raising the bar in its innovative approach to e-commerce fashion,” he said.
“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.”
