ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Mercari calls it quits in Europe as losses mount

Japanese flea market app faces stiff competition in the West

Mercari's peer-to-peer sales app has not taken off in Europe and the U.S. as it did in Japan. (Photo by Manami Yamada)

TOKYO -- Mercari will no longer offer its flea market app in Europe starting next March in what amounts to an exit from a money-losing region where it failed to stand out against bigger-name competitors.

Subsidiaries Mercari Europe and payment services platform Merpay, both based in London, will be dissolved by the fiscal year ending June 2020, the Japanese company said Tuesday. High labor and advertising costs contributed to Mercari Europe posting an operating loss of 7.3 million pounds ($9.23 million) in the most recent financial year ended in June.  

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more