This will remove the product from your profile and all the collections you've added it to.
On Wanelo for iPhone and iPad, you can go to your profile (or a collection) and tap and hold the thumbnail for the product you want to remove. A menu will appear with an option to delete the product.
And, you can do the same on Wanelo for Android.
Keep in mind this will only delete the product from your profile, and won't disappear entirely from Wanelo.