Delivery of Getir, in a snowy street in Berlin, February 6, 2023 (AFP/Archives/Odd ANDERSEN)
The Turkish express home delivery platform Getir announced on Monday its withdrawal from the American, British, German and Dutch markets, a new episode in the crisis which is shaking the “quick commerce” sector.
“Getir announces that it is leaving Europe and the United States, where it generates 7% of its turnover, to concentrate on Turkey,” indicates the group which announced last year the elimination of nearly 2,500 jobs in the five countries where he still carried out his activity.
Getir delivery men, recognizable by their uniforms and their yellow and purple scooters or bicycles, appeared in 2021 in the streets of New York, London, Amsterdam, Paris and even Madrid, with the promise of delivering in ten minutes of everyday consumer products.
Getir, which had already announced its withdrawal from four European countries (France, Italy, Spain, Portugal), says it now wants to focus on Turkey, “its main market where it sees the greatest potential for long-term sustainable growth”.
“Sad day for @Getir,” wrote its founder Nazim Salur on the social network
The Turkish unicorn, which reached a valuation of $12 billion two years ago, employs some 20,000 people worldwide.
– fierce battle –
The fast delivery sector, which has been growing strongly since 2020, has been hit hard by inflation.
In several European countries, Getir, Flink, Cajoo, Gopuff, Gorillas and others have also fought a fierce battle in recent years with extremely aggressive promotions, financed by impressive fundraising.
Founded in Istanbul in 2015, Getir has secured significant financial backing from investors such as California-based investment funds Sequoia Capital and Silver Lake as well as UAE-based sovereign wealth fund Mubadala.
The Turkish group indicated on Monday that it had obtained “new financing from Mubadala and G Squared”, an American venture capital investment company.
“Getir will use this financing to strengthen its competitive position in its activities in Turkey,” he says.
Getir, which bought the German Gorillas, another major player in the sector, in 2022, reached its peak during the coronavirus pandemic, when requests for grocery and meal deliveries exploded.
A self-proclaimed pioneer of rapid delivery of food products, the Turkish group deployed in nine countries before withdrawing to Turkey.
In France, Flink, one of the last express home delivery companies, announced in mid-April that it was throwing in the towel, following the fate of most players in the sector who abandoned the market due to a tightening of regulations.
© 2024 AFP
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