PriceMinister founder Pierre Kosciusko-Morizet has been appointed as the executive director of Rakuten Europe. The Japanese e-tail giant has recently reorganized its structure into three geographical zones: Asia, America and Europe.
At least two more years with Rakuten
It is no surprise to insiders that the Frenchman has been given the highest European position, as Rakuten has bought ‘his’ PriceMinister three years ago with a very specific condition: Kosciusko-Morizet had to lead the European integration and expansion of the e-commerce platform for at least five years.
By appointing him into this position, the Japanese clearly show they wish to continue the collaboration, even though Kosciusko-Morizet has downplayed the suggestion with French business paper Les Echos. “This is no sign for the future, but merely proves business is going great right now.”
The appointment is nevertheless another sign that Rakuten means business regarding its European ambitions. Acquiring PriceMinister opened the French door very quickly, paving the way for a European foothold. The company's next aims are "to become number one in every country" and "expand into countries like Italy and Poland”.