Rakuten to close online marketplace in France and Spain

Rakuten will cease its online marketplace operations in France and Spain on October 1. The closure follows unsuccessful attempts to find a buyer for the business, which formerly operated as PriceMinister.

Approximately 180 employees are affected by the shutdown. Management stated that despite extensive discussions, no potential acquirers met the necessary criteria, which included job preservation, financial stability, and long-term viability. The company's social and economic committee (CSE) also issued a negative opinion regarding the proposals received.

The decision comes after a decade of declining activity, during which customer numbers fell by 33% and web traffic decreased by 42%, largely due to competition from Asian e-commerce platforms. The French retailer Pixmania, backed by shareholder Xavier Niel, had expressed disappointment after its takeover bid was rejected, claiming it was not given the opportunity to present its plan to employees.