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Japanese hygiene giant Daio Paper has exited the Turkish market after five years, transferring all its local brands, including Komili, to Evyap Holding.
The decision was driven by economic volatility, rising costs, and intense market competition that hindered long-term investment prospects, according to Turkish economy-focused Dunya.
Daio entered Türkiye in 2020 by acquiring a branch of Yildiz Holding for $26.4 million, gaining control over Komili and other hygiene brands. The company introduced products like baby diapers, sanitary pads, and wet wipes under its subsidiary, Elleair International Türkiye.
However, challenges such as the Ukraine-Russia conflict, high inflation, and fierce local competition made it difficult for Daio to sustain operations. Consequently, the company sold its entire Turkish portfolio to Evyap Holding, a prominent domestic player in the hygiene sector.
This acquisition strengthens Evyap's position in the market, adding brands like Komili to its existing lineup, which includes Arko, Duru and Evy Baby.
The move is expected to enhance Evyap's competitiveness both locally and in the export market.
Daio's withdrawal showcases the difficulties faced by foreign investors in Türkiye amid economic instability and market saturation.
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