Turkish e-commerce platform Trendyol was named among the "groundbreaking" third-generation brands in the global fashion industry in the State of Fashion 2024 report.
The report, prepared by the trade industry publication Business of Fashion and U.S.-based consulting firm McKinsey, mentioned Trendyol as the only Turkish company among the third-generation companies, the firm announced Tuesday.
Third-generation companies not only deliver their products faster and cheaper but also adept customer loyalty as a key objective, thus emerging as "new playmakers" in the industry, according to the report.
The report highlighted that the rise of fashion brands that have strong and resilient means of production, their supplier ecosystem, and create data-driven product design and production is inevitable.
Third-generation companies stand out, not only for their affordable pricing policies but also for their wide range of options and innovative and interactive strategies to boost customer loyalty, the “State of Fashion 2024” report revealed.
Given the circumstances, the report states that 40% of customers in the United States and 26% in the United Kingdom chose to shop from third-generation fashion companies in the last 12 months.
Erdem Inan, the Trendyol Group's CEO, said clothing made in Türkiye is preferred by customers from Europe to the Middle East.
Inan said they owe this success to Türkiye's quality production capabilities, as their products are made by "more than 400 local manufacturers" throughout the country.
"As the State of Fashion report reveals, companies that set customer loyalty as their main goal stand out in the industry globally, (and) as Trendyol, we apply our customer-oriented approach when doing business in all the markets we enter," he noted.
Inan highlighted that Türkiye has brands that manufacture quality products and suppliers that can meet the need for raw materials and that the country is a production and logistics center.
Inan pointed out that products made by Turkish manufacturers attract great interest in foreign markets, citing they opened their first office overseas last year in Germany as an example.
As a result, over 1.5 million customers shop from over 200 Turkish brands through Trendyol in Germany.
He said that over 350,000 products can be accessed through Trendyol and that recently they were selected as the number one fashion marketplace in Europe by the German Federal Association of eCommerce (BVOH).
The Trendyol mobile app has become one of the most downloaded applications in Germany in the last 12 months, added Inan.
Emphasizing that their international expansion to Germany was followed by Azerbaijan and the Gulf countries, Inan said the Trendyol app quickly became the most downloaded online shopping application in Azerbaijan, Saudi Arabia and the United Arab Emirates (UAE).
"We opened a November sales campaign abroad for the first time this year, with over 60 million visits from Azerbaijan during the month," he noted.
