Why has WPP bought a São Paulo e-commerce agency?
Corebiz, a Brazilian e-commerce agency, has been acquired by British holding company WPP for an undisclosed fee.
WPP has acquired a Brazilian e-commerce specialist based in São Paulo / Unsplash
The deal is the latest stab at growing the group’s e-commerce capabilities, an area of competence that has become highly competitive since the onset of the Covid-19 pandemic.
Corebiz will join the VMLY&R Commerce network; its global chief executive officer Beth Ann Kaminkow said in a statement: “Bolstering our creative commerce offering to drive conversion every day for our clients is an essential ingredient to creating connected brands.
“The team at Corebiz are not only experts in this field, but also share our philosophy for building a thriving company culture alongside business growth.”
Current clients on Corebiz’s roster include white goods manufacturer Whirlpool and retailers Walmart, Estée Lauder and Carrefour. It has over 700 employees, though most are based in its São Paulo and Franca offices in Brazil.
Key to the business’s appeal will be its specialism in implementing VTEX – a cloud-based e-commerce and retail software platform – for clients. The platform allows retailers to create and manage online retail environments, including the nuts and bolts of order fulfillment; Corebiz claims to be the largest VTEX implementation partner in the world. The company also provides SEO, CRM and CRO services.
Felipe Macedo and Renan Mota, founders and co-chief executives of Corebiz, said: “Over the last few years, we have actively participated in the acceleration of the e-commerce market in Latin America. Now, our goal is to take this expertise to the rest of the world. This will only be enhanced by joining WPP and the VMLY&R Commerce network and we are excited to strengthen e-commerce enablement for VMLY&R Commerce’s global clients.“
“Companies both in Latin America and around the world are looking to grow their e-commerce capabilities, having seen over the last two and half years the impact that strong digital commerce strategies can have on business growth,” said Stefano Zunino, WPP’s country manager in Brazil.
“Corebiz’s market-leading knowledge of enterprise commerce platforms such as VTEX will further strengthen our commerce expertise. I look forward to welcoming the Corebiz team as we expand our offer to clients here in Brazil and beyond.”