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Project Description
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Project Description
Hepsiburada.com ("HB", the company) is Turkey`s largest online retail business with a diversified product offering covering more than 30 product categories. The company is currently owned by Dogan Online and by the Dogan Family members, who are the controlling shareholders of Dogan Group, a leading business conglomerate in Turkey holding some of the country`s most widely circulated and well known publications. The Group`s operations focus on the media, energy and retail industry sectors. The investment in HB is being led by The Abraaj Group, a current IFC client. TurkCommerce3 Coop (Co-investco), is a company established in the Netherlands by the Abraaj Group for the sole purpose of acquiring and holding shares in TurkCommerce BV, which in turn holds 25% of the share capital in Hepsiburada. The main product categories offered by HB are mother/baby products, white goods/ kitchen, computers, home electronics, cameras, apparel and shoes, hobby products and games, office products/books/DVDs, cosmetics/ personal care, pet shop, clocks/ accessories, sports/ outdoor, supermarket, telephones, hardware/ construction materials, gold (jewelry). The company`s headquarters is located in a rented office space in Trump Towers at central Istanbul and operational department offices and warehouses are located in Pasakoy and Sancaktepe. The existing warehouses are rented and established on a semi industrial site with a total storage area of 16,000 m2. The other three warehouses used to store primarily white goods and apparel are owned and operated by logistic companies (Tezel, Horoz and Ogli) under supervision by HB. The company has decided to move its entire operations into a single, new, custom-built DC which is located in an industrial area called Guzeller Organized Industrial Zone in Gebze and this warehouse (with a storage area of 50,000 m2) will be rented as well. The proposed IFC investment of up to US$20 million equity is intended to support HB`s growth initiatives and expansion of its product and service offerings (the "project").
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