LatAm List – Online retail companies, B2W and Magazine Luiza, are both looking into acquiring Netshoes, a Brazilian e-Commerce company. For Magazine Luiza, this marks its debut in clothing; they have previously worked with home appliances, electronics, cellphones, and furniture. For B2W, it would be the first acquisition of another e-Commerce player; to date, it has only bought software and logistics companies.
Since April 2nd, Netshoes’ stock has jumped 50%, and its current market value is $70M.
Read more on Brazil Journal.