Enjoei, a website selling used clothes and other products, announced the purchase of the website selling handcrafted items Elo7 this Tuesday, the 18th. optimization of costs and dilution of expenses”.
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According to the company known for thrift stores, “Elo7 is the largest authorial product platform in Brazil and its operations represent a relevant sales volume and active user base, with a GMV (gross merchandise value) of around R$ 500 million in 2022, as well as 3.6 million transactions, 1.6 million active buyers, and over 50,000 active professional sellers”. The platforms will continue to operate with independent brands, even after the acquisition.
“The platform connects sellers of unique and personalized handcrafted products to buyers looking for products with meaning, and the acquisition allows us to expand the base of professional sellers at Enjoei, accelerating the expansion of our business”, says Guilherme Almeida, Financial and Relationship Director Enjoei investors.
Confirm here the Announcement from Enjoei in full. Born as a blog in 2009, through which used clothes were sold to friends, in a virtual thrift store model, the startup Enjoei.com engaged its history with investors in the footprint of the “circular economy”, an important pillar when it comes to sustainability. Its IPO on B3 took place in 2020.
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