Polishop and Wiz (B3:WIZS3) are expanding business, starting from a joint venture for the offer of insurance and consortia. The new company will have exclusivity to operate at the retailer’s counter for 10 years.
The agreement initially foresees actions to promote the commercialization of the extended warranty and protected purchase of products in physical stores, e-commerce from Polishop, in addition to marketplaces in which the retailer is present, and through its network of entrepreneurs. The forecast is that, little by little, other insurance and even consortium options will be made available.
According to the CEO and founder of Polishop, João Appolinário, the bond signed takes into account the companies’ history of innovation and technology. “There are a lot of new ideas going on and huge potential for everyone involved. Polishop will definitely enter the insurance business, alongside a team that knows this business like few others. We are going to expand the portfolio and add value to make life easier for our public”, says the entrepreneur.
The insurance offer will be on a omnichannel – even betting on the Polishop audience TV, open and subscription channel of the brand, and on the retailer’s social networks, which already attract 50 million people. At this beginning, the operation will focus on operating in physical stores and building the sales experience in the e-commerce from the retailer. “These are channels with strong potential and which will have additional solutions to ensure the protection of the goods purchased by our consumers”, explains Appolinário.
Wiz CEO Heverton Peixoto highlights that this is the Company’s first agreement focused on the retail market. “We have a very clear strategy to diversify our business and partners. Today we enter a new level, in the construction of a very prosperous relationship and which focuses on increasing the degree of satisfaction of Polishop’s customers”, says the executive.
The new company was born attentive to the profile of Polishop consumers: an audience extremely open to innovation, care and well-being. “Polopop brings practical, efficient and modern solutions to customers. Brand consumers are people who look for trends and exclusivity. People looking ahead. These preferences have fit with insurance and financial products, which Wiz is benchmarking”, emphasizes Heverton.
Partnership Details
The shareholding structure of the new company will be 50% Wiz and 50% Polishop. To this end, Polishop will receive, in total, an amount of around R$50 million, with a fixed installment of R$20 million paid after completion of the preceding conditions and a sum of R$30 million paid in three variable annual installments. , linked to the achievement of the goals of the joint venture in the years between 2024 and 2026, which could total R$ 51 million, in case the previously agreed targets are exceeded. The transaction is subject to CADE’s approval.
The new company’s board of directors will be composed of two executive directors, the president director who will accumulate attributions of financial, marketing and technology director appointed by Wiz and a commercial director appointed by Polishop. The Board of Directors will be composed of three members, one appointed by Wiz, one by Polishop and an independent member.
Want to know more? Don’t forget to follow ADNEWS on social media and stay on top of everything!
The post Polishop and Wiz create a joint venture focused on offering insurance appeared first on DNEWS.
