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Important Update – Organo Turkey
FYI, we will suspend the operation in Turkey, effective Dec 31, 2021, and will be exploring a new and enhanced Turkish Business Model in 2022 to continue meeting the high demand of OG products. This was announced to EU Diamond leaders via the eblast below, as your reference.
Dear Diamond Leaders,
In response to the recent Turkish economic situation and the significant depreciation of the Turkish Lira, ORGANO™ Turkey has been forced to suspend operations as of December 31, 2021.
In the meantime, ORGANO™ will be exploring a new and enhanced Turkish Business Model to continue meeting the high demand of ORGANO™ products. More to follow on this project within 2022.
Currently, One (1) US Dollar raised to 17 Turkish Liras and the two months depreciation of TL approached 80% (percent). In this particular case, when the exchange rates change so dramatically, the price of imported goods increases significantly in value, resulting in product imports becoming more expensive.
During the period between December 31, 2021 and when ORGANO™ re-launches a new Enhanced business model, Distribution Partners will not be able to enter My OG Office and place orders. Their ORGANO™ accounts will be stored safely for possible developments in the future.
ORGANO™ has been and continues to constantly monitor the exchange rate depreciation-related uncertainties. We will provide updates on future changes you may need to be aware of.
We will inform the key Turkish leaders via a zoom meeting today afternoon (1 pm UK time) and an eblast will be sent to Distribution Partners registered in Turkey in Turkish & English before the end of business day today (3 pm UK time).
If you have any questions, we will be happy to answer.
Thank you.