Wish online marketplace returns to France after 15 months By Investing.com

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Wish online marketplace returns to France after 15 months

Stock Markets Mar 14, 2023 01:00PM ET

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WISH

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By Michael Elkins

ContextLogic Inc. (NASDAQ:WISH) announced Tuesday that the French regulator DGCCRF (Directorate General for Competition Policy, Consumer Affairs and Fraud Control) has lifted its delisting measure against the company's mobile ecommerce platform, Wish, allowing the online marketplace to return to app stores and search engines in France.

The U.S. online marketplace was removed from search engines and app stores in 2021 for flouting consumer protection rules. At the time, Wish was the country's sixth most visited e-commerce website, according to market and audience study group Médiamétrie.

15 months after the injunction was issued, users in France are again able to download and update the Wish app from Google Play, as well as navigate to the website directly from search engines. Wish also hopes to return to the App Store within the coming days.

"We want to thank DGCCRF for engaging in a constructive dialogue and are pleased to have reached a solution that allows Wish to return to the market. France is an important market to us, and we look forward to a continued partnership with DGCCRF in the future," said Joanna Forster, Interim General Counsel & Chief Compliance Officer at Wish.

"Procedures are now underway to return Wish to the search engines and app stores in France. We look forward to welcoming French consumers back to our platform."

Shares of WISH are up 0.476% in mid-day trading on Tuesday.

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