The European Bank for Reconstruction and Development (EBRD) acquired a minority stake in Turkish apparel retailer DeFacto for USD 59 million.
The deal is set to boost DeFacto's growth and expansion in new markets as part of the ready-to-wear brand's globalization efforts. DeFacto welcomed the deal as an opportunity to build on its achievements in Europe and further its new-generation franchise and e-trade models.
“The EBRD remains committed to supporting a resilient, international and diverse market in Türkiye, and we view our partnership with DeFacto as a vital step toward that goal. DeFacto has great potential to become a driving force in the sector and the country. We are happy to provide resources to the company as it strengthens its inclusivity," EBRD Deputy Head for Türkiye Hande Işlak stated.
“In 2022, we ventured into new markets and increased the number of our stores. We had record export numbers and grew our e-trade figures. We see the partnership with the EBRD as strong evidence of our long-term global success," DeFacto CEO İhsan Ateş said.
The EBRD is a leading institutional investor in Türkiye. It has invested almost EUR 17 billion in various sectors of the country, mainly in the private sector since 2009.
Defacto is a global apparel retailer with a strong international presence in over 90 countries.