Etsy sells Elo7 The cult online shop Etsy has announced the sale of its Brazilian subsidiary Elo7 to Olist, which is also active in the e-commerce sector. No details were made public about the sale price.
As recently as 2019, Etsy had acquired Elo7, which was considered one of the largest e-commerce platforms for handmade and vintage items in Brazil. With the acquisition, Etsy wanted to strengthen its presence outside of the United States. According to the company, Elo7 could not achieve the desired growth rates.
One of the most successful e-commerce platforms worldwide
Overall, Etsy remains one of the most successful e-commerce platforms globally, most recently posting strong financial results in Q2 2023. With the sale of Elo7, the company can now focus on further building on its core strengths and driving growth in established markets.
Marketplace for buying and selling handmade products, vintage items
Etsy is an e-commerce platform originally founded in 2005 and headquartered in the United States. The site serves as a marketplace for buying and selling handmade products, vintage items, and creative goods.
Sellers on Etsy can create their own products and list them for sale through the platform, while buyers can find a variety of unique, handcrafted, and often customizable items rarely found in more traditional retail outlets.
Etsy is known for supporting small businesses, artists, crafters and designers,
Etsy is known for supporting small businesses, artists, crafters, and designers looking to bring their products to a global audience. It has a wide range of products such as jewelry, clothing, art, home decor, crafts and more.
In terms of climate protection, Etsy has taken several actions to reduce its impact on the environment. An important step was the effort to operate carbon-neutral.
Etsy is committed to measuring and reducing greenhouse gas emissions from operating the platform and business activities
Greentech Shop Etsy encourages sellers and buyers to be environmentally responsible
To offset unavoidable emissions, Etsy invests in projects that help remove or avoid greenhouse gases. These include, for example, projects for reforestation, renewable energies and energy efficiency.
In addition, Etsy encourages its sellers and buyers to promote environmentally responsible practices. This can include using sustainable materials, recycled packaging, eco-friendly shipping options, and other eco-friendly practices.