The case describes the Brazilian company, VTEX’s journey from its founding in 2000 as a textile software company to its unicorn status in 2021 and listing on NYSE. It traces the company’s transformation to a global player in digital commerce as a provider of a software-as-a-service (SaaS) digital commerce platform for enterprise brands and retailers selling direct-to-consumer (D2C). Its platform is the operating system for the e-commerce ecosystem, that enables its customers to execute their commerce strategy by catering to complex networks of consumers, business partners, suppliers and fulfilment providers at different stages of the purchase journey across a variety of sales channels. The Brazilian company has built a strong, well-established and unique ecosystem, over its 20-year operating history which made it tricky for new players to enter Latin America. By 2021, the company’s clients included major brands such as Sony, Walmart, Whirlpool, Coca-Cola, Stanley Black & Decker, AB InBev, Motorola, Carrefour and Nestlé, with 2,500 active online stores, the company was present in 32 countries.
Illustrates how a Latin American company in the digital commerce sector became a global player and achieved unicorn status. It discusses the challenges of expanding globally and what different strategies a company needs to consider to become a truly global player.
- Digital Commerce
- SaaS
- Internationalisation
- Global Expansion
- Unicorn
- Emerging Markets
- Brazil
- Bootstrapping
- Latin America
- Q12022
