Operating in the retail sector in Türkiye since 2012, UCZ Mağazacılık has officially completed its commercial existence by joining Şok Marketler. With the approval of the Capital Markets Board (CMB), the facilitated merger process of UCZ Mağazacılık, a 100 percent subsidiary of Şok Marketler, was successfully concluded.
Within the scope of the transaction, UCZ Mağazacılık Ticaret A.Ş., with all its assets and liabilities, will be transferred to Şok Marketler Ticaret A.Ş. as a whole. was taken over by. With this takeover move, only the legal entity of UCZ was eliminated, while all the assets of the company were merged under Şok Marketler.
THEY REPORTED IT TO THE CAP
Şok Marketler had previously announced, with its notification to the Public Disclosure Platform (KAP), that it had initiated the said process in line with the provisions of the Turkish Commercial Code, Corporate Tax Law and Capital Markets Legislation. With the approval of the announcement text published by the CMB, the transfer process of the 14-year-old chain became official.
THE JOURNEY OF THE CHEAP MARKET TO ŞOK
According to Sözcü’s news; UCZ Marketler, which once shined among the “three-letter markets” in the retail industry, attracted attention by spreading to the neighborhoods in its commercial adventure, which started with only 10 stores in 2012. It creates the perception of “cheap” with its name and is economical with the slogan “very cheap”.
Appealing to a wide range of consumers looking for shopping, the chain achieved rapid growth in a short time by combining grocery store friendliness and low price policy.
However, this strong momentum achieved in the first years became unsustainable over time. Operational difficulties encountered in the franchise system, rising costs and the withdrawal of the founding partners from management by transferring their shares put the chain into a difficult process.
As a result of the uncertainties and strategy changes on the management side, there was a significant decrease in the number of stores.
The breaking point for UCZ, whose presence in the sector was shaken, occurred in 2017. With Yıldız Holding stepping in and purchasing the stores, most of the branches were transformed by joining ŞOK Marketler.
Although the UCZ brand seems to have been taken off the streets when looked at on the basis of the signboard, many of its old branches continue to serve under the umbrella of ŞOK today.
