Vente-Privee might be backing out of the US market. These rumors arose after American Express announced in a statement to Fortune Magazine that it will be ending its joint venture with the French online shopping club.

"American Express and Vente-Privee France have made a mutual decision to close Vente-Privee US by the end of the year," wrote American Express in a corporate stetement.

On request, Vente-Privee stated that it was currently examining alternative options of continuing its business in the US.

Vente-Privee founder and CEO Jacques-Antoine Granjon: “Over the past three years, Vente-Privee made many noteworthy achievements in the US market, including over $50M in sales this year. The company does however acknowledge that an exponential amount of time, resources and financial investment would be required to achieve significant growth in the US with the current model. While Vente-Privee will maintain its focus on key markets where the potential for growth is much greater and can be achieved much quicker, the company is considering a new model in the United States.”