Retailer Magazine Luiza successfully bid R$31 million for online bookseller Estante Virtual, below the R$44 million valuation issued by its owner, bankrupt book chain Livraria Cultura, which auctioned the site off to pay debts. All of Estante’s book inventory will be consolidated into the growing marketplace operation of Magazine, a source says.
Valor has learned that Estante had annual sales R$90 million (including revenues of booksellers who operate storefronts on the site) in 2019, the same as the previous year. It holds 18 million book listings, including used titles, earning a commission of at least 20% per transaction.
Source: Valor Econômico