The founder of French online marketplace PriceMinister, Pierre Kosciusko-Morizet, is preparing a takeover bid to reclaim the platform from Rakuten France, 16 years after selling it. The Japanese company acquired PriceMinister in 2010 for 200 million euros, but the platform has since seen a sharp decline in traffic and users.
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Rakuten France announced last month it was seeking a buyer after years of financial struggles. Traffic has dropped 42% over the past decade, while active customers fell by 33%. The company now reports annual revenue of around 50 million euros, with sales volume near 370 million euros. Operating losses sit between 10 and 15 million euros. The prolonged downturn has eroded its once-dominant position in France’s ecommerce setting, particularly as competitors expanded their market share. The financial strain has also limited Rakuten France’s ability to invest in platform upgrades or marketing, further accelerating its decline.
If no buyer emerges, the platform could begin shutting down in the third quarter. The potential closure would mark the end of an era for a site that once served as a key destination for French online shoppers, particularly those seeking niche or secondhand items.
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Kosciusko-Morizet’s bid includes Verdoso Investment and Fabien Versavau, the former head of Rakuten France from 2018 to 2024. Their plan involves reviving the PriceMinister brand, which Rakuten phased out in 2018, and shifting focus back to peer-to-peer sales—a return to the platform’s early model. Professional sellers currently on Rakuten would remain part of the new version. The strategy aims to rekindle the platform’s original appeal by prioritizing individual sellers and unique inventory, which once set it apart from broader ecommerce rivals. Versavau’s leadership experience during Rakuten’s later years provides operational insight into the challenges and opportunities of reintroducing the legacy brand.
Other potential buyers have surfaced, including Casino (parent of Cdiscount), Carrefour, Pixmania, and Back Market. Each brings a different strategic angle: Casino and Carrefour could integrate the platform into their existing retail ecosystems, while Pixmania and Back Market specialize in refurbished and secondhand goods, aligning with PriceMinister’s historical strengths. No sale has been finalized, leaving the platform’s future uncertain.
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PriceMinister originally gained prominence as a hub for secondhand books, comics, and rare titles, briefly overtaking eBay in France’s ecommerce market. Its success stemmed from catering to collectors and readers searching for out-of-print editions, limited releases, and manga that were often unavailable through traditional bookstores. This niche focus helped it build a loyal user base before expanding into broader categories. The platform’s ability to connect individual sellers with buyers looking for hard-to-find items was a defining feature that distinguished it from more generalized competitors.