Getir to Withdraw from UK, Europe, and US Markets to Focus on Turkey
Getir, a prominent grocery delivery firm, has announced its decision to exit the UK, Europe, and the US markets, opting to concentrate on its primary market in Turkey, where the majority of its revenue is generated.
The move follows ongoing speculation regarding the financial stability of its UK operations and signifies a strategic shift for the company.
According to Getir, only a minimal 7% of its revenue was sourced from the markets it intends to depart, prompting the decision to refocus its efforts on Turkey.
This decision marks the conclusion of Getir’s ambitious expansion journey across Europe, during which it facilitated the creation of approximately 23,000 jobs over a three-year period.
Getir emphasized its vision for sustained growth in its domestic market of Turkey, where it perceives the greatest potential for long-term expansion.
Having entered the UK market in 2021, Getir rapidly emerged as a leading food delivery service, leveraging its distinct purple and yellow branding and offering ultra-fast delivery within 20 minutes, a feature that gained popularity amid shifting consumer behaviours during the Covid-19 pandemic.
While Getir’s US subsidiary, FreshDirect, will continue operations, the company has secured investments from Mubadala and G Squared to facilitate its withdrawal from Western markets.
In expressing gratitude to its employees across the UK, Germany, the Netherlands, and the US, Getir acknowledged their dedication and hard work.
Despite initial successes, including the creation of thousands of jobs in the UK, Getir faced challenges as it navigated regulatory changes and shifts in consumer preferences, ultimately leading to its strategic decision to refocus its operations.
