Famous online shopping website Limango has announced that they are ending their operations in Turkey. The German company had entered the Turkish market in 2009 and was successful at offering many products that were considered unlikely to be purchased online.
Becoming one of the e-commerce companies that have closed down within the last year, Limango Foreign Trade and Online Shopping Services had registered at the Istanbul Chamber of Commerce on February 19, 2009, with a capital pool of TL 93 million ($35.68 million). How Turkey's e-commerce landscape will be shapes as a result is currently a mystery.
It was noted that this decision was made because the market share of the company has decreased to less than 10 percent. Limango's owner, Otto-Europe Beteiligungs, is one of the leading companies of Germany.
According to data from the Interbank Card Center, the revenue generated from online shopping in Turkey, which was TL 12.9 billion in 2010, has steadily increased from TL 18.7 billion in 2011, TL 25.2 billion in 2012 and TL 34.6 billion in 2013 to TL 34.7 billion as of September 2014, which totals around TL 126.1 billion in the last five years.