Getir Considers Selling n11 Platform Amid Market Shifts

(Image Source: getir.com)

Turkish food supplier Getir is contemplating the potential sale of its online shopping platform n11. Discussions with investors are ongoing, exploring various options, including the sale of n11, although not all possibilities discussed are certain to materialize, as per a Reuters report.

The decision remains uncertain, with insiders indicating that they are exploring alternatives, and selling n11 is among the considerations. Additionally, there are indications that Getir might withdraw from the US market, although the company has declined to comment on these speculations.

In Germany, Getir operates through the Gorillas delivery service. Recent reports from “Wirtschaftswoche” suggest that Getir is planning to exit the German market, with business operations in other European markets expected to cease by mid-May. According to “Business Insider,” the company is facing significant challenges and may be on the brink of extinction.

Getir’s partnership with the n11 platform began in 2022, followed by the acquisition of the remaining shares from the Turkish Dogus Group and South Korean SK Planet. The company experienced substantial growth during the pandemic, driven by increased demand for home grocery delivery services. At its peak, Getir was valued at $12 billion, expanding its operations into Western Europe and the United States.

However, as the pandemic subsided, the outlook for delivery services became challenging. Getir implemented workforce reductions in Turkey in 2022 and exited markets in France, Italy, Spain, and Portugal. Presently, operations are limited to Turkey, Germany, Great Britain, the Netherlands, and the USA.