Abraaj Group investing in Turkey's Hepsiburada

The Abraaj Group, a leading investor operating in global growth markets, on Feb. 23 announced the acquisition of a minority stake in Hepsiburada.com, a market leader in Turkey?s online retail sector.

The investment will be used by Hepsiburada to accelerate the rapid expansion of its market leading e-commerce operations in Turkey, including a custom-built, state-of-the-art fulfillment center, the company said in a written statement yesterday.

?Our investment in Hepsiburada represents a landmark transaction for Abraaj in the online retail space and marks our ninth investment in Turkey since 2007. Our strong credentials in Turkey are underpinned by proven partnerships, outstanding exits and a robust commitment to value creation, which we will continue to demonstrate using our significant regional and investment expertise to transition.

Hepsiburada into the next phase of its growth trajectory,? said Arif Naqvi, founder and group chief executive of the Abraaj Group.

Established in 1998, Hepsiburada is owned by the Do?an Group, a leading Turkish conglomerate active in the media, energy, financial services and tourism sectors. The company offered over 500,000 products in more than 30 different categories in 2014.

?Our goal at Hepsiburada is to offer a simplified and improved shopping experience to Turkish consumers by providing them with the full gamut of products they need at competitive prices and with value-added services. Looking ahead, we are launching our new marketplace platform in early 2015, fully accessible to third-party merchants, which will underpin the inevitable transformation of the Turkish retail sector. We are also committed to a mobile-first approach and will launch our responsive site in the second half of...