Business

Magazine Luiza acquires digital fashion platform Steal the Look

For the retailer, the acquisition makes it move forward on two fronts defined as strategic for the year: fashion expansion and digital advertising

Photo: REUTERS/Paulo Whitaker
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  • Founded in 2012, Steal the Look produces content on fashion, beauty, and decoration trends, as well as culture, behavior, and entrepreneurship;
  • For the retailer, the acquisition makes it move forward on two fronts defined as strategic for the year: fashion expansion and digital advertising.

Brazil’s retailer Magazine Luiza announced on Wednesday the acquisition of the digital content platform for fashion, beauty, and decoration Steal the Look (STL), for an undisclosed amount.

Founded in 2012, Steal the Look produces content on fashion, beauty, and decoration trends, as well as culture, behavior, and entrepreneurship.

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According to Magazine Luiza, STL has about 2.5 million followers on social networks and 6 million unique visitors per year.

Manuela Bordasch, founder of Steal The Look. Photo: Magazine Luiza/Courtesy

For the retailer, the acquisition makes it move forward on two fronts defined as strategic for the year: fashion expansion and digital advertising.

READ ALSO: Brazilian retailer Magazine Luiza acquires Canaltech, an online publisher

“The fashion and beauty categories, together, form an extremely fragmented market, still little digitized and with a total size of BRL 223 billion a year. Its online potential could reach 67 billion soon”, said the Magazine Luiza’s Fashion and Beauty executive director, Silvia Machado.

READ ALSO: From a brick-and-mortar stores chain to the largest Brazilian retail ecosystem: Magazine Luiza’s next steps

Magazine Luiz entered the fashion segment in 2019, with the acquisition of Netshoes and Zattini – conquering a relevant market share right from the start. Last year, it bought Hubsales, starting to connect fashion manufacturers directly to the final consumer through its marketplace.

(Translated by LABS)

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