WPP acquires leading ecommerce agency Corebiz
July 18, 2022 at 08:00 AM EDT
The company will strengthen WPP’s digital commerce capabilities in Latin America as a part of the VMLY&R COMMERCE global network
WPP (NYSE: WPP) today announces that it is acquiring Corebiz, a leading Latin American ecommerce agency specialising in VTEX implementation, one of the largest enterprise digital commerce platforms in the region.
Founded in 2013, Corebiz employs over 600 people across Latin America, with the majority of its headcount based in its São Paulo and Franca offices in Brazil. The Brazilian operations of the company will join the VMLY&R COMMERCE global network, with further regional outposts of the business coming onboard over the course of the coming year.
Corebiz counts industry leaders such as Whirlpool, Casino Group, Walmart, Carrefour, Decathlon and Estée Lauder amongst its clients. It specialises in a range of ecommerce digital solutions covering three key pillars: acquisition, from creating key visuals for impactful digital campaigns to driving targeted SEO; conversion, including CRO and full stack development; and loyalty, spanning from CRM system implementation to managing consumer data and running targeted promotional campaigns. As a leading implementation specialist of VTEX, the agency helps clients reduce time-to-market, reach audiences across multiple channels, and uncover new growth areas in Latin America and beyond.
This acquisition reflects WPP’s ongoing investment into strengthening its commerce offer for clients as consumer needs continue to change. It is aligned with WPP’s accelerated growth strategy, building on existing capabilities in the areas of commerce and technology. WPP is ranked as a Leader in Forrester's global Commerce Services Wave, and already manages more than $40bn of direct and $20bn of marketplace GMV for clients and employs 13,500 commerce specialists across its agencies.
Stefano Zunino, Country Manager for WPP in Brazil, said: “Companies both in Latin America and around the world are looking to grow their ecommerce capabilities, having seen over the last two and half years the impact that strong digital commerce strategies can have on business growth. 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.”
Beth Ann Kaminkow, Global CEO of VMLY&R COMMERCE, said: “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. We’re thrilled to get our collaboration underway across our client base.”
Felipe Macedo and Renan Mota, Founders and Co-CEOs of Corebiz, said: “Over the last few years, we have actively participated in the acceleration of the ecommerce 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 ecommerce enablement for VMLY&R COMMERCE's global clients."
WPP is the creative transformation company. We use the power of creativity to build better futures for our people, planet, clients and communities. For more information, visit www.wpp.com.
About VMLY&R COMMERCE
VMLY&R COMMERCE is WPP’s end-to-end Creative Commerce Company. It’s our promise that “Creative Commerce Converts” as we work to deliver creativity that inspires conversion in the moment – regardless of channel. We believe commerce is the next great canvas for creativity, driving both brand equity and commercial impact. By reinventing how we work – via our Connected Commerce Platform – we take a unified view of the purchase journey, to arrive at the most creatively engaging, culturally relevant commerce experiences. That can be anywhere life intersects with commerce – from physical stores to e-commerce, branded experiences to out-of-home, content to product packaging, social commerce to live streaming, voice and visual search to gaming, and more. We do this as part of a network of 13,000 specialists across 44 countries globally. For more information, visit www.vmlyrcommerce.com.
Niken Wresniwiro, WPP