Enjoei (ENJU3) Investor presentation summary

Portfolio and business model

• Enjoei’s C2C marketplace focuses on secondhand fashion and lifestyle; Dec 2023 metrics included 1M+ active buyers, 1M+ active sellers and R$1B GMV in 2023.

• Enjoei Pro handles photography, promotion, negotiation and shipping for sellers; its Cabreúva distribution center can process over 1.5M products.

• Elo7 connects makers of customized products with buyers; 12M2023 GMV was R$460M, with 1.5M+ active buyers and 50K+ professional sellers.

• The portfolio expanded offline through a 25% stake in Cresci e Perdi in Dec 2023; the deal included an option to acquire 75% in 2028.

• Enjoei-branded physical stores were planned to begin operating in 2024, with 300 franchises expected within three years; the franchise model earns opening fees and monthly sales royalties.

Market opportunity and growth strategy

• Addressable market reaches R$100B with offline stores and Elo7 categories; 2027 estimates include R$78B for secondhand and R$20B for Elo7 categories.

• Strategy prioritizes core marketplace growth, category expansion, offline models, stronger logistics and payment value-chain capabilities, and investment efficiency.

• Core growth levers include more active sellers and listings, faster inventory turnover, improved pricing and search recommendations, and more efficient subsidies.

• Category expansion targets children’s products, books and electronics on Enjoei, plus parties, events and children’s products on Elo7.

• Offline and value-chain priorities include franchise growth, logistics reach, lower freight costs and improved service levels.

Sustainability and reach

• Cresci e Perdi had 550 stores, presence in 390+ Brazilian cities and 6M customers; its asset-light franchise model generates royalties.

• In 2022, over 20% of Enjoei users earned R$300/month or more from their stores; listed used items were nearly 70% cheaper than new items.

• The presentation positions secondhand purchases as having substantially lower environmental impact than new clothing and resale as a source of household income.