Turkish electronic commerce website Markafoni.com to shut down on June 30

ISTANBUL

Markafoni.com, one of the country’s best-known electronic commerce websites, announced on June 1 that it would halt its operations by the end of the month.

In an official statement on its website, Markafoni.com stated that it would continue shipping products until June 30 and also apply standard procedures in regulations for undelivered or refund products over the same period.

Founded in March 2008, the website sold products in a range of categories including clothing, accessories, cosmetics, footwear, bags and decoration.

In 2014, it was sold to South African firm MIH Allegro BV, owned by the Naspers Group which operates in 129 countries.

Meanwhile, the Naspers Group stated that the closure was particularly related to Markafoni and did not have any effect on the group’s other companies. The decision was caused by the fact its business model was different compared to other countries, it said.

It also added that Turkey provided a good growth opportunity in other fields and that they expected growth in the group’s other investments and companies in the country, namely Letgo and PayU.

The website had long been among the pioneers of websites in sales campaigning, even ranking among the top three brands operating in its field at one point.

According to information obtained by daily Hürriyet, Markafoni had previously developed a number of measures to reduce its stockpiles.

In a similar decision, German Limango also decided to halt its operations in the country two years ago.