Boycott hits EspressoLab: Major loss in revenue over the last 2 months
The domestic coffee chain EspressoLab, which was targeted following a boycott call by the CHP after the arrest of Istanbul Metropolitan Municipality (İBB) Mayor Ekrem İmamoğlu, has announced that its revenue has dropped by 22 percent in two months.
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In the investigation launched by the Istanbul Chief Public Prosecutor's Office into the Istanbul Metropolitan Municipality on March 19, İBB Mayor Ekrem İmamoğlu and some municipal bureaucrats were detained, and İmamoğlu was subsequently arrested and sent to prison.
Following these developments, widespread reactions rose across Turkey, and CHP Chairman Özgür Özel called for a boycott at the rally in Saraçhane, naming certain companies.
Domestic coffee chain EspressoLab, one of the brands mentioned in the boycott list, shared the economic impacts experienced over the two-month period with the public.
“WE EXPERIENCED A 22 PERCENT REVENUE LOSS”
EspressoLab owner Esat Kocadağ, in a statement to Patronlar Dünyası, stated that they have been experiencing a serious economic contraction since March 19, saying, “The effect of the boycott was clearly seen. We experienced a 22 percent drop in revenue.”
“FOREIGN BRAND IS APPLAUDED, DOMESTIC FIRM IS EXCLUDED”
Kocadağ said that the process has opened the door not only to an economic but also to a moral debate. Explaining that a rival foreign coffee company had its own employees applaud by saying “We passed EspressoLab today,” Kocadağ said, “While efforts are made to remove a domestic coffee firm from universities, foreign brands are welcomed with joy. I do not know how you can explain the logic of this, politically or conscientiously. We represent this country's coffee, workers, and investment. However, we are the ones being targeted again.”