Netshoes (Cayman) (NETS) 20-F 30 Apr 19 2018 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2018shares
Document and entity information [abstract]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Trading Symbol	NETS
Entity Registrant Name	Netshoes (Cayman) Ltd.
Entity Central Index Key	0001562767
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Emerging Growth	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding	31,056,244

Consolidated Statements of Fina

Consolidated Statements of Financial Position R$ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)
Current assets:
Cash and cash equivalents	$ 17,374	R$ 67321	R$ 395962
Restricted cash	773	2,996	19,397
Trade accounts receivables, net	42,275	163,807	113,168
Inventories, net	69,318	268,594	456,632
Recoverable taxes	15,282	59,214	80,047
Prepaid expenses and other current assets	5,198	20,138	48,352
Total current assets	150,220	582,070	1,113,558
Non-current assets:
Restricted cash	4,783	18,533	15,048
Judicial deposits	30,896	119,717	106,914
Recoverable taxes	10,332	40,033	70,765
Other assets	3,656	14,166	1,950
Due from related parties	2	7	12
Property and equipment, net	19,740	76,489	73,039
Intangible assets, net	36,987	143,317	115,839
Total non-current assets	106,396	412,262	383,567
Total assets	256,616	994,332	1,497,125
Current liabilities:
Trade accounts payable	87,003	337,120	365,835
Reverse factoring	11,685	45,276	148,928
Current portion of long-term debt	9,929	38,473	106,577
Taxes and contributions payable	4,766	18,467	19,875
Deferred revenue	1,028	3,983	3,732
Accrued expenses	35,285	136,721	120,366
Other current liabilities	6,635	25,711	31,017
Total current liabilities	156,331	605,751	796,330
Non-current liabilities:
Long-term debt, net of current portion	49,140	190,406	179,394
Provision for labor, civil and tax risks	5,145	19,935	12,523
Deferred revenue	5,598	21,690	25,502
Other non-current liabilities	0	0	27
Total non-current liabilities	59,883	232,031	217,446
Total liabilities	216,214	837,782	1,013,776
Shareholders' equity:
Share capital	63	244	244
Additional-paid in capital	347,781	1,347,581	1,345,507
Treasury shares	(396)	(1,533)	(1,533)
Accumulated other comprehensive loss	(2,845)	(11,022)	(13,664)
Accumulated losses	(304,135)	(1,178,464)	(847,125)
Equity attributable to owners of the parent	40,468	156,806	483,429
Equity attributable to non-controlling interests	(66)	(256)	(80)
Total shareholders' equity	40,402	156,550	483,349
Total liabilities and shareholders' equity	$ 256,616	R$ 994332	R$ 1497125

Consolidated Statements of Prof

Consolidated Statements of Profit or Loss R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)$ / shares	Dec. 31, 2018BRL (R$)R$ / shares	Dec. 31, 2017BRL (R$)R$ / shares	Dec. 31, 2016BRL (R$)R$ / shares
Profit or loss [abstract]
Revenue	$ 466,621	R$ 1808064	R$ 1835212	R$ 1685151
Cost of sales	(358,687)	(1,389,842)	(1,247,014)	(1,144,231)
Gross profit	107,934	418,222	588,198	540,920
Operating expenses:
Selling and marketing expenses	(123,931)	(480,206)	(495,190)	(431,065)
General and administrative expenses	(49,472)	(191,695)	(143,253)	(162,338)
Other operating expenses, net	(2,403)	(9,312)	(3,933)	(5,251)
Total operating expenses	(175,806)	(681,213)	(642,376)	(598,654)
Operating loss	(67,872)	(262,991)	(54,178)	(57,734)
Financial income	3,878	15,026	28,996	28,285
Financial expenses	(21,478)	(83,223)	(129,040)	(104,795)
Monetary position (loss) gain, net	2,476	9,595
Loss before income tax	(82,996)	(321,593)	(154,222)	(134,244)
Income tax expense	(52)	(202)
Net loss from continuing operations	(83,048)	(321,795)	(154,222)	(134,244)
Net loss from discontinued operations	(2,730)	(10,579)	(16,123)	(17,652)
Net loss	(85,778)	(332,374)	(170,345)	(151,896)
Net loss attributable to:
Owners of the Parent from continuing operations	(82,886)	(321,166)	(153,623)	(133,422)
Owners of the Parent from discontinued operations	(2,730)	(10,579)	(16,123)	(17,652)
Non-controlling interests	$ (159)	R$ 629	R$ 599	R$ 822
Loss per share attributable to owners of the Parent
Basic and diluted | (per share)	$ (2.76)	R$ 10.68	R$ 5.95	R$ 7.05
Loss from continuing operations per share attributable to owners of the Parent Basic and diluted | (per share)	$ (2.67)	R$ 10.34	R$ 5.39	R$ 6.22

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income ( Loss ) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)
Statement of comprehensive income [abstract]
Net loss	$ (85,778)	R$ 332374	R$ 170345	R$ 151896
Items that will subsequently be recorded to profit or loss
Foreign currency translation	771	2,989	5,502	(11,015)
Foreign currency translation - sale of subsidiary	17	64
Cash flow hedges - effective portion of changes in fair value	0	0	348	(3,907)
Cash flow hedges - reclassified to initial cost of inventories	0	0		3,119
Cash flow hedges - reclassified to profit or loss	0	0	197	(670)
Other comprehensive income (loss)	788	3,053	6,047	(12,473)
Total comprehensive income (loss)	(84,990)	(329,321)	(164,298)	(164,369)
Total comprehensive income (loss) attributable to:
Owners of the Parent	(84,934)	(329,103)	(163,833)	(163,829)
Non-controlling interests	$ (56)	R$ 218	R$ 465	R$ 540

Consolidated Statements of Cash

Consolidated Statements of Cash Flows R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)
Cash flows from continuing operating activities:
Net loss from continuing operations	$ (83,048)	R$ 321795	R$ 154222	R$ 134244
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Allowance for doubtful accounts	3,359	13,014	25,443	1,167
Depreciation and amortization	14,974	58,022	31,487	30,776
Loss on disposal of property and equipment, and intangible assets	973	3,770	179	901
Impairment of property and equipment, and intangible assets	220	851
Impairment of recoverable taxes (note 3)	1,246	4,828
Share-based payment	2,045	7,923	(13,860)	930
Provision for labor, civil and tax risks	2,786	10,795	10,111	1,247
Interest expense, net	16,018	62,066	110,568	90,605
Monetary position (loss) gain, net	1,401	5,428
Provision for inventory losses	18,717	72,526	4,904	949
Provision for expected losses, Other non-current assets (note 19)	3,413	13,225
Other	52	205	179	(9)
(Increase) decrease in:
Restricted cash	4,233	16,401	2,549	(8)
Derivative financial instruments	0	0		148
Trade accounts receivable	(17,366)	(67,290)	75,095	67,767
Inventories	21,687	84,034	(108,386)	(79,904)
Recoverable taxes	8,836	34,236	(53,172)	(57,610)
Judicial deposits	(3,304)	(12,803)	(35,097)	(39,940)
Other assets	1,599	6,196	9,525	(20,901)
Increase (decrease) in:
Derivative financial instruments	0	0	(186)	(209)
Trade accounts payable	(386)	(1,497)	29,880	98,545
Reverse factoring	(26,750)	(103,652)	121,061	8,104
Taxes and contributions payable	139	537	5,112	9,334
Deferred revenue	(919)	(3,562)	(3,641)	(1,875)
Accrued expenses	6,378	24,719	(2,978)	30,118
Share-based payment	(158)	(611)	(2,366)	(715)
Other liabilities	(2,135)	(8,273)	(8,683)	(12,954)
Net cash provided by (used in) continuing operating activities	(25,990)	(100,707)	43,502	(7,778)
Cash flows from continuing investing activities:
Proceeds from sale of discontinued operation (note 3a)	62	241
Purchase of property and equipment	(5,725)	(22,185)	(7,728)	(25,069)
Loan to third parties (note 3a)	(2,271)	(8,801)
Purchase of intangible assets	(18,515)	(71,743)	(49,378)	(47,043)
Interest received on installment sales	373	1,445	2,071	6,987
Restricted cash	(900)	(3,485)	6,206	760
Net cash used in continuing investing activities	(26,976)	(104,528)	(48,829)	(64,365)
Cash flows from continuing financing activities:
Proceeds from debt	0	0	134,152	137,325
Payments of debt	(14,721)	(57,040)	(141,788)	(79,004)
Payments of interest	(16,230)	(62,889)	(108,429)	(105,234)
Share-based payment	0	0	(5,824)
Proceeds from issuance of common shares	0	0	423,166
Net cash provided by (used in) continuing financing activities	(30,951)	(119,929)	301,277	(46,913)
Net cash used in discontinued operations (note 03)	(2,096)	(8,121)	(18,162)	(13,620)
Effect of exchange rate changes on cash and cash equivalents	1,198	4,644	6,869	(5,083)
Change in cash and cash equivalents	(84,815)	(328,641)	284,657	(137,759)
Cash and cash equivalents, beginning of period	102,189	395,962	111,305	249,064
Cash and cash equivalents, end of period	17,374	67,321	395,962	111,305
Change in cash and cash equivalents	(84,815)	(328,641)	284,657	(137,759)
Non-cash investing and financing activities:
Acquisition of property and equipment and intagible assets	563	2,182	1,710	R$ 4677
Deferred offering costs reclassified to equity	0	0	6,808
Convertible notes converted to common shares	0	0	94,151
Reclassification of share-based payment from Cash-settled arrangement to Equity-settled arrangement	$ 0	R$ 0	R$ 13706

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity R$ in Thousands, $ in Thousands	USD ($)	BRL (R$)	Share capital [member]BRL (R$)	Additional paid-in capital [member]BRL (R$)	Treasury shares [member]USD ($)	Treasury shares [member]BRL (R$)	Accumulated losses [member]BRL (R$)	Foreign currency translation [member]BRL (R$)	Gain (Loss) on hedge accounting [member]BRL (R$)	Equity attributable to owners of the parent [member]BRL (R$)	Non-controlling interest [member]BRL (R$)
Beginning Balance at Dec. 31, 2015		R$ 289002	R$ 141	R$ 821988		R$ 925	R$ 526305	R$ 7735	R$ 913	R$ 288077	R$ 925
Comprehensive Income (Loss)
Net loss		(151,896)					(151,074)			(151,074)	(822)
Other comprehensive income (loss)		(12,473)						(11,297)	(1,458)	(12,755)	282
Total comprehensive income (loss)		(164,369)					(151,074)	(11,297)	(1,458)	(163,829)	(540)
Transactions with Owners and Other
Purchase of treasury shares		(608)			$ 0	(608)				(608)
Total transactions with owners and other		(608)				(608)				(608)
Ending Balance at Dec. 31, 2016		124,025	141	821,988		(1,533)	(677,379)	(19,032)	(545)	123,640	385
Comprehensive Income (Loss)
Net loss		(170,345)					(169,746)			(169,746)	(599)
Other comprehensive income (loss)		6,047						5,368	545	5,913	134
Total comprehensive income (loss)		(164,298)					(169,746)	5,368	545	(163,833)	(465)
Transactions with Owners and Other
Purchase of treasury shares | $					0
Issuance of common shares in initial public offering, net of offering costs		415,550	84	415,466						415,550
Conversion of convertible notes to common shares		94,151	19	94,132						94,151
Share-based payments		13,921		13,921						13,921
Total transactions with owners and other		523,622	103	523,519						523,622
Ending Balance at Dec. 31, 2017		483,349	244	1,345,507		(1,533)	(847,125)	(13,664)		483,429	(80)
Comprehensive Income (Loss)
Net loss	$ (85,778)	(332,374)	0	0		0	(331,745)	0	0	(331,745)	(629)
Other comprehensive income (loss)	788	3,053	0	0		0	0	2,642	0	2,642	411
Total comprehensive income (loss)	(84,990)	(329,321)	0	0		0	(331,745)	2,642	0	(329,103)	(218)
Transactions with Owners and Other
Purchase of treasury shares					$ 0	0
Share-based payments		2,074	0	2,074		0	0	0	0	2,074	0
Ending Balance (Estimated adjustments due to adoption of IFRS 15 [member]) at Dec. 31, 2018		(1,153)	0	0		0	(1,153)	0	0	(1,153)	0
Ending Balance (Estimated adjustments due to adoption of IFRS 9 [member]) at Dec. 31, 2018		(701)	0	0		0	(701)	0	0	(701)	0
Ending Balance (Hyperinflation adjustment due to adoption of IAS 29 [member]) at Dec. 31, 2018		2,302	0	0		0	2,260	0	0	2,260	42
Ending Balance at Dec. 31, 2018	$ 40,402	R$ 156550	R$ 244	R$ 1347581		R$ 1533	R$ 1178464	R$ 11022	R$ 0	R$ 156806	R$ 256

Organization and background

Organization and background	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Organization and background	1. Organization and background 1.1 Nature of Operations Netshoes (Cayman) Limited (“NSC” or the “Parent”) was incorporated in the Cayman Islands on April 12, 2011. NSC is a holding company and conducts its business primarily through its subsidiaries (together with NSC, the “Company”, “we” or “us”). The Company’s registered office is at Willow House, Cricket Square, George Town, KY 1-1104, The Company is a sports and lifestyle ecommerce destination in Latin America with operations in Brazil and Argentina. The Company’s core business is to offer to its customers a reliable and convenient online shopping experience with a wide selection of products including athletic shoes, jerseys, apparel, accessories and sporting equipment from leading international, local and private brands as well as fashion and beauty. The Company conducts its business mainly through its ecommerce websites (Netshoes, Zattini, Shoestock and Freelace). In August 2018, the Company entered into an agreement with the Grupo Sierra Capital (“Sierra”) to sell the entirety of its Mexico operations. On October 11, 2018 the Company and Sierra concluded the transaction, which was preceded by final adjustments agreed by the parties under the original terms and conditions of the negotiation (see note 3). In January 2019, the Company decided to divest Argentina operations (see note 3). 1.2 Split of Shares The Board of Directors approved a 1.0 for 3.0 share split of the Company’s outstanding common shares. The share split became effective on April 18, 2017. The Company has retrospectively adjusted loss per share data considering the split of shares (see note 5). 1.3 Convertible Notes and Initial Public Offering On February 22, 2017, the Company entered into a note purchase agreement pursuant to which it issued and sold unsecured promissory notes convertible into its common shares, in the aggregate principal amount of US$30.0 million, to certain of its shareholders. The Company determined that the convertible notes constituted a hybrid instrument with characteristics of a debt containing embedded derivative features requiring separate accounting as a derivative instrument. The liability related to the convertible notes was initially recorded at fair value and, subsequently, at amortized cost. The embedded derivative associated with the convertible notes was recorded at fair value with its changes being recorded in the statement of profit or loss. Immediately prior to the completion of the IPO, the convertible notes (principal amount and any unpaid accrued interest) and its embedded derivative was converted into our common shares with a 10% price discount relative to the initial public offering price of the Company’s outstanding common shares. The value of the Company’s outstanding convertible notes (principal amount and unpaid accrued interest) and its embedded derivative was US$ 30.4 million (or R$94,2 million, using the exchange rate on the date of completion of the IPO) that was converted in 1,870,709 common shares. On April 18, 2017, the Company completed its Initial Public Offering (IPO). The Company sold 8,250,000 of its common shares at a public offering price of $18.00 per common share, for gross proceeds of $148.5 million (or R$459.7 million, using the exchange rate on the date of completion of the IPO). The Company received net proceeds of $134.2 million (or R$415.6 million, using the exchange rate on the date of completion of the IPO), after deducting $9.7 million (or R$29.9 million, using the exchange rate on the date of completion of the IPO) in underwriting discounts and commissions and $4.6 million (or R$14.2 million, using the exchange rate on the date of completion of the IPO) of other offering expenses. The shares offered and sold in the initial public offering were registered under the Securities Act of 1933, as amended, pursuant to the Company’s Registration Statement on Form F-1 No.333-216727), 1.4 Going concern considerations The Company recorded a net loss and a significant negative operating cash flow in the year ended December 31, 2018. As of and for the year ended December 31, 2018, the Company had accumulated losses of R$ 1,178,464 (compared to R$ 847,125 as of December 31, 2017), net loss of R$ 332,374 (compared to R$170,345 for the year ended December 31, 2017) and net cash used in operating activities of R$ 100,707 (compared to R$43,502 of net cash provided in operating activities for the year ended December 31, 2017). In addition, the Company has a working capital deficiency as of December 31, 2018, with R$ 23,681 of net current liabilities (compared to a working capital surplus of R$ 317,228 of net current assets as of December 31, 2017). The Company expects to continue to incur net losses for at least the next twelve-months following the issue of these consolidated financial statements. Although the Company continues to take action to improve its operating performance and expects to generate positive net operating cash flow over the next twelve-months, this positive cash flow from operating activities by itself may not be sufficient to meet the Company’s cash requirements in the same period arising from its financing activities. As such, Management has concluded that financing alternatives will be necessary to meet its obligations within one year from the date of issue of these consolidated financial statements. However, there can be no assurance that the Company’s plan to improve its operating performance and financial position will be successful or that the Company will be able to obtain additional financing on commercially reasonable terms, or at all. The Company is currently exploring alternatives to obtain access to other sources of capital necessary to meet its ongoing liquidity needs and is taking measures to improve its operating performance and cash, liquidity and financial position. Such measures include, among others, the following: • pursuing the sale of its operations in Argentina by the second quarter of 2019, which have not performed as expected and have had a negative effect on the Company’s operating cash flows; • continuing to implement cost-saving initiatives across the Company; • negotiating alternative payment terms with suppliers; • seeking with current creditors the partial release of collateral provided under certain of the Company’s financing arrangements (basically restricted cash and cash equivalents, which as of December 31, 2018 amounted to R$ 88,760); and • assessing ways of monetizing the Company’s PIS/COFINS judicial deposits, following a favorable decision in its judicial disputes challenging the tax authorities’ interpretation of the calculation basis for PIS/COFINS taxes over products sold by the Company (such tax credits amounted to R$ 101,971 as of December 31, 2018). Following the favorable decision, the Company expects these deposits to be released, however authorization for release is subject to government approval, the timing of which is currently unknown. The Company has also engaged financial and other advisors to assist it in those efforts. Given the above, management acknowledges there is a material uncertainty which may cast substantial doubt on the Company’s ability to continue as a going concern. The financial statements of the Company have been prepared assuming the Company’s ability to continue as an going concern as management has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future based on the projections and measures being taken. If for any reason the Company is unable to continue as a going concern, then this could have an impact on the Company’s ability to realize assets at their recognized values, and to settle liabilities in the ordinary course of business at the amounts stated in the consolidated financial statements. The financial statements do not include any adjustments that might result from this uncertainty. 1.5 Merger agreement – subsequent event The Company announced, on April 29, 2019, that it has entered into an Agreement and Plan of Merger (“Merger Agreement”) with Magazine Luiza S.A. and its wholly-owned subsidiary located in the Cayman Islands (“Merger Sub”). Pursuant to the Merger Agreement, Magazine Luiza S.A. will acquire the Company, such that, at the effective time of the transaction, Merger Sub will merge with and into the Company (the “Merger”), with the Company continuing after the Merger as the surviving company and a wholly-owned subsidiary of Magazine Luiza S.A. Subject to the terms and conditions of the Merger Agreement, each of Company´s shareholders will receive US$2.00 per share in cash for each common share. The Merger is subject to the satisfaction of certain conditions precedent established in the Agreement and Plan of Merger, including, among others, its approval by two-thirds (2/3) of the votes cast by the shareholders entitled to vote who are present in person or by proxy at a Company’s general meeting, and by the Administrative Council for Economic Defense (Conselho Administrativo de Defesa Econômica – CADE), the Brazilian anti-trust agency. In addition, on April 29, 2019, Magazine Luiza S.A. announced that it has entered into a voting and support agreement, with shareholders representing 47.9% of our capital stock, pursuant to which, among other things, each such shareholder has agreed to vote all common shares beneficially owned by such shareholder in favor of the adoption of the Merger Agreement and the approval of the Merger and the other transactions contemplated by the Merger Agreement.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies 2.1. Statement of Compliance The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRSs”) as issued by the International Accounting Standards Board. The consolidated financial statements were authorized for issuance by the Board of Directors on April 29, 2019. 2.2. Basis of Presentation The consolidated financial statements have been prepared under the historical-cost basis, unless otherwise indicated. The presentation of the consolidated financial statements in conformity with IFRS requires the use of certain accounting estimates, and also requires the Company´s Management to exercise its judgment in the process of applying the Company’s accounting policies. Note 2.5 to these consolidated financial statements shows the areas in which a greater level of judgment and estimates have been applied. Intercompany balances and transactions, including income and expenses and any unrealized income and expenses and the balance of receivables and payables arising from intercompany transactions, are eliminated. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is no evidence of impairment. The functional currency of the Company is US$ and the reporting currency is Brazilian Real (“R$”) as this currency better reflects the underlying operations of the consolidated entities. The Company’s subsidiaries with operations in Brazil and Argentina use their respective currencies as their functional currencies. Due to the significant inflation in Argentina over the past few years, the three-year cumulative inflation rate in Argentina has exceeded 100% based on data from the national wholesale price index and various available inflation indices in May 2018. As such, Argentina was considered as hyperinflationary economy effective July 1, 2018 and, in these annual financial statements, beginning January 1, 2018 the Company is required to apply inflation accounting. Thus, its statement of financial position and statement of profit or loss are adjusted for the changes in the general purchasing power of the local currency, using official indices at the reporting date, before translation into Brazilian Real (“R$”) and, as a result, are stated in terms of the measuring unit current at the reporting date. The details of recognition of the effects of inflation in Argentina operations are disclosed in note 3. The comparative information for the years ended December 31, 2016 and 2017 were restated for the purposes of applying IFRS 5 “Non-current Translations of balances in the consolidated statement of financial positions, consolidated statement of profit or loss, consolidated statement of comprehensive income (loss) and consolidated statement of cash flows from R$ into US$ are solely for the convenience of the readers and have been calculated at the rate of US$1.00 = R$ 3.8748, representing the exchange rate set forth by the Banco Central do Brasil (Central Bank of Brazil) on December 31, 2018. No representation is made that the R$ amounts could have been, or could be, converted, realized or settled into US$ at that rate on December 31, 2018, or at any other rate. All values have been rounded to the nearest thousands of R$ and US$, except where noted. 2.3. Principles of Consolidation The consolidated financial statements include the accounts of all entities in which NSC has a controlling financial interest. i. Consolidated subsidiaries Consolidated subsidiaries are entities controlled by the Parent. The Parent controls an entity when it is exposed, or has the right to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of consolidated subsidiaries are included in the consolidated financial statements from the date on which control commences until the date on which control ceases. The consolidated subsidiaries are listed as follows: Percentage Ownership and Company Country of Incorporation December 31, December 31, Netshoes Holding, LLC United States of America 100.00 % 100.00 % NS2 Com Internet S.A. Brazil 100.00 % 100.00 % NS3 Internet S.A. Argentina 98.17 % 98.22 % NS4 Com Internet S.A. Mexico 100.00 % 0.00 % NS4 Servicios de México S.A. C.V. Mexico 100.00 % 0.00 % NS5 Participações Ltda. Brazil 99.99 % 99.99 % NS6 Serviços Esportivos Ltda. Brazil 100.00 % 100.00 % ii. Non-controlling Non-controlling non-controlling non-controlling non-controlling non-controlling non-controlling non-controlling non-controlling Changes in the Parent’s interest in subsidiaries that do not result in a loss of control are accounted for as equity transactions. 2.4. Foreign Currency Translation and Transactions i. Foreign Currency Translation The financial statements of foreign entities that use a functional currency different from the reporting currency are translated into Brazilian Real as described below: • Assets and liabilities are translated into Brazilian Real at the closing rate, corresponding to the spot exchange rate at the reporting date; and • Income statement and cash flow items are translated into Brazilian Real using the average rate of the period unless significant variances occur. The resulting exchange differences are recognized directly in other comprehensive income (loss). When a foreign operation is disposed of, the cumulative amount of the exchange differences in consolidated equity relating to that operation is recorded to the consolidated statements of profit or loss. ii. Foreign Currency Operations Foreign currency transactions are converted into the functional currency using the exchange rate at the transaction date. Monetary assets and liabilities denominated in foreign currencies are re-measured Non-monetary re-measured 2.5. Use of Judgments, Estimates and Assumptions In preparing these consolidated financial statements in conformity with IFRS, management has made judgments, estimates and assumptions that affect the application of the Company’s accounting policies and the reported amount of assets, liabilities, income and expenses. Actual results may differ from those estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognized prospectively. Information about judgments, assumptions and estimates made in applying accounting policies that have the most significant effects on the amounts recognized in the consolidated financial statements are included in the following notes: • Note 3 – Hyperinflation: Determining inflation rate; • Note 6 – Revenue: Estimating the sales returns; • Note 10 – Trade Accounts Receivable: Estimated losses on doubtful accounts; • Note 11 – Inventories: Provision for inventory losses; • Note 13, 14 and 25 – Property and Equipment and Intangible Assets: Useful lives of property and equipment and intangible, software development costs related to intangible assets and impairment of long-lived assets; • Note 19 – Credit risk of Other non-current • Note 20 – Income Taxes: Recognition of deferred income tax assets and availability of future taxable profit against which tax losses carried forward can be used. The determination of tax positions that are probable of being sustained also involves significant judgment; • Note 22 – Share-based payments: Valuation and classification of awards; and • Note 24 – Contingencies: Key assumptions about the likelihood and magnitude of an outflow of resources. 2.6. Changes in accounting policies The Company applied as of January 1, 2018, IFRS 15 (Revenue from Contracts with Customers) and IFRS 9 (Financial Instruments). The nature and effect of these changes are described below. i. IFRS 15 Revenue from Contracts with Customers IFRS 15 establishes a comprehensive framework for determining whether, how much and when revenue is recognized. It replaces existing revenue recognition guidance, including IAS 11 Construction Contracts, IAS 18 Revenue, IFRIC 13 Customer Loyalty Programmes, IFRIC 15 Agreements for the Construction of Real Estate, IFRIC 18 Transfers of Assets from Customers, and SIC-31 The standard requires entities to exercise judgment, taking into consideration all the relevant facts and circumstances when applying each step of the model to contracts with their customers. The standard also specifies the accounting for the incremental costs of obtaining a contract and the costs directly related to fulfilling a contract. The Company adopted IFRS 15 using the cumulative effect method of adoption. Accordingly, the effect of adoption has been recorded as an adjustment to equity. The details of new significant accounting policies and the nature and effect of the changes to previous accounting policies are set out below. a. Revenue from product sales The Company’s contracts with customers for products sales generally includes a performance obligation. The Company has concluded that revenue from products sales should be recognized at the point in time when control of the asset is transferred to the customer, generally on delivery of the goods. Therefore, the adoption of IFRS 15 did not have any impact on the timing of revenue recognition, as sales were already recognized upon delivery of the goods to customers. However, the amount of revenue to be recognized was affected by the variable consideration, as stated below. Variable consideration Some contracts for product sales provide customers with a right of return. Prior to the adoption of IFRS 15, the Company recognized revenue from the sale of goods measured at the fair value of the consideration received or receivable, net of returns. If revenue could not be reliably measured, the Company deferred revenue recognition until the uncertainty was resolved. Under IFRS 15, rights of return give rise to variable consideration. The variable consideration is estimated at contract inception and constrained until the associated uncertainty is subsequently resolved. The application of the constraint on variable consideration increases the amount of revenue that will be deferred. Rights of return For contracts that permit the customer to return an item, under IFRS 15 revenue is recognized to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur. Therefore, the amount of revenue recognized is adjusted for expected returns, which are estimated based on historical data. The effect of adoption in January 1, 2018 resulted in the recognition of right of return assets (increase in inventories) of R$1,592 and refund liabilities (increase in other liabilities) of R$2,745. The net effect of R$1,153 was recorded in Accumulated losses. The effect of adoption on Revenues for the year ended December 31, 2018 is a decrease of R$1,058 (USD 273). b. Freight-related services The Company’s contracts with customers for freight-related services is recognized once the service is rendered. The shipping fees are linked to the revenue from products sales. Therefore, the adoption of IFRS 15 did not have any impact on the timing of revenue recognition, as services were already recognized upon delivery of the goods to customers. However, the amount of revenue to be recognized was affected by the variable consideration, as stated in topic (a). c. Marketplace platform The Company’s contracts with customers for Marketplace platform generates revenue in the form of a commission, when the third-party vendors sell the products on the Company’s platform. The Company recognizes revenue from the marketplace platform on a net basis because the Company acts as an agent and does not have primary responsibility for fulfilling the orders, bear inventory risk or have discretion in establishing prices. Therefore, the adoption of IFRS 15 did not have any impact in the Company’s accounting policies, once the Company already recognized these revenues as an agent. d. NCard The Company generates commission revenue from the customers’ activation of NCards (a co-branded e. Presentation and disclosure requirements As required for the consolidated financial statements, the Company disaggregated revenue recognized from contracts with customers into categories that depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The Company also disclosed information about the relationship between the disclosure of disaggregated revenue and revenue information disclosed for each reportable segment. Refer to notes 4 and 6 for the disclosure on disaggregated revenue. ii. IFRS 9 Financial Instruments IFRS 9 sets out requirements for recognizing and measuring financial assets, financial liabilities and some contracts to buy or sell non-financial The Company has applied IFRS 9 with the initial adoption date of January 1, 2018 and has taken an exemption not to restate comparative information for prior periods with respect to classification and measurement (including impairment) requirements. Differences in the carrying amounts of financial assets and financial liabilities resulting from the adoption of IFRS 9 were recognized in Accumulated losses as at January 1, 2018. Accordingly, the information presented for 2017 does not generally reflect the requirements of IFRS 9 but rather those of IAS 39. The details of new significant accounting policies and the nature and effect of the changes to previous accounting policies are set out below. a. Classification and measurement of financial assets and liabilities IFRS 9 contains a new classification and measurement approach for financial assets that reflects the business model in which assets are managed and their cash flow characteristics. IFRS 9 contains three principal classification categories for financial assets: measured at amortized cost, fair value through other comprehensive income (FVOCI) and fair value through profit or loss (FVTPL). The standard eliminates the existing IAS 39 categories of held to maturity, loans and receivables and available for sale. IFRS 9 largely retains the existing requirements in IAS 39 for the classification of financial liabilities. Therefore, the adoption of IFRS 9 has not had a significant effect on the Company’s accounting policies related to classification and measurement of financial liabilities. The following table compares the measurement and classification under IAS 39 and IFRS 9 for each class of financial assets. Financial instrument Classification under IAS 39 Classification under IFRS 9 Cash and cash equivalents Loans and receivables Amortized cost Restricted cash, current and non-current Loans and receivables Amortized cost Trade accounts receivables Loans and receivables Amortized cost Due from related parties Loans and receivables Amortized cost Judicial deposits Loans and receivables Amortized cost Other assets, current and non-current Loans and receivables Amortized cost The effect of adopting IFRS 9 on the carrying amounts of financial assets at January 1, 2018 relates solely to the new impairment requirements. b. Impairment IFRS 9 replaces the “incurred loss” model in IAS 39 with a forward-looking “expected credit loss” (ECL) model. This new model requires the Company to record expected credit losses on trade accounts receivables on lifetime basis. The Company has assessed the application of IFRS 9 impairment model requirements and its assessment did not have a material impact on its opening balance at January 1, 2018 (except for trade receivables, described below). Trade accounts receivables The estimated ECLs were calculated based on actual credit loss experience over the past two years, with ECL rates calculated separately for B2C (business to consumer) and B2B (business to business) trade accounts receivable. The Company already considered the exposure to credit risk over the impairment recognized under IAS 39. Factors considered were: • Significant financial difficulty of the customer; • Payment default; • Exposure to expected losses; • High probability of customer bankruptcy; • Breach of contract, such as default or delinquency in interest or principal; and • Adverse change in a factor (for example, unemployment rates, external credit ratings). Exposures within each group are based on credit risk characteristics and aging status. The application of IFRS 9’s impairment requirements at January 1, 2018 resulted in an additional allowance for doubtful accounts as follows. As at January 1, 2018 Allowance for Restated Not past due R$ (8,199 ) R$ (11,222 ) Past due 1-30 (2,134 ) (2,134 ) Past due 31-90 (3,686 ) (3,686 ) Past due 91-120 (1,845 ) (1,845 ) Past due 120-180 (3,108 ) (3,108 ) Past due over 180 days (1,899 ) (1,899 ) Total R$ (20,871 ) R$ (23,894 ) Note 10 includes a table to summarize the effect of adoption of IFRS 9 on new allowance for doubtful accounts. c. Hedge accounting The Company´s assessment did not indicate any impact of the application of IFRS 9 for hedge accounting, because no hedge transactions existed as of December 31, 2017 and no hedge transactions were entered into in the year ended December 31, 2018. 2.7. New Accounting Pronouncements not yet effective i. IFRS 16 Leases IFRS 16, Leases replaces IAS 17, Leases and related interpretations. The core principle is that a lessee recognizes assets and liabilities for all leases with a lease term of more than 12 months. A lessee is required to recognize a right-of-use non-cancellable The actual impacts of adopting the standard on January 1, 2019 may change because: • the Company has not finalized the testing and assessment over its controls; and • the new accounting policies are subject to change until the Company presents its first consolidated financial statements that include the date of initial application. The Company will recognize new assets and liabilities for its operating leases of distribution centers and administrative headquarters. The nature of expenses related to those leases will change because the Company will recognize a depreciation charge for right-of-use Previously, the Company recognized operating lease expense on a straight-line basis over the term of the lease, and recognized assets and liabilities only to the extent that there was a timing difference between actual lease payments and the expense recognized. In addition, the Company will no longer recognize provisions for operating leases that it assesses to be onerous. Instead, the Company will include the payments due under the lease in its lease liability. No significant impact is expected for the Company’s finance leases. The Company decides to adopt the modified retrospective application as of January 01, 2019, with the following expedients: • apply the new definition of a lease to all of their contracts; • exemptions for short term leases and/or with low values; • no restatement of its prior-period financial information; • calculate lease assets and lease liabilities as at the beginning of the current period using: • the lease liability at the date of initial application as the present value of the remaining lease payments; • the right of use assets at an amount equal to the lease liability; and • apply a single discount rate to the portfolio of leases with similar characteristics using market rates which reasonable approximates the Company risks. Based on the information currently available, the Company estimates that it will recognize amounts between: January 1st, 2019 BRL Increase/(Decrease) Right of use - non-current R$ 80,000 - 90,000 Recoverable taxes - current and non-current 10,000 - 12,000 Lease liability - current liabilities 15,000 - 20,000 Lease liability - non-current 75,000 - 82,000 The Company has operating leases on a number of buildings where its distribution centers and administrative headquarters are located with third parties in arm’s length conditions. The agreements mature on different date and are usually indexed to the General Market Price Index (IGP-M). non-cancellable BRL USD Up to one year R$ 28,163 US$ 7,268 One to five years 72,225 18,640 More than five years 32,031 8,267 Total R$ 132,419 US$ 34,175 During the years ended December 31, 2016, 2017 and 2018, the Company recorded total operating lease expenses of R$26,813, R$27,463 and R$28,105 (US$7,253), respectively. ii. IFRIC 23 - Uncertainty over Income Tax Treatments IFRIC 23 clarifies how to apply the recognition and measurement requirements in IAS 12 when there is uncertainty over income tax treatments. In such a circumstance, the Company shall recognize and measure its current or deferred tax asset or liability applying the requirements in IAS 12 based on taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates determined applying this interpretation. The interpretation is effective from January 1, 2019. The Company is evaluating the possible effects from the adoption of the interpretation, and until the present moment no relevant impact has been identified. iii. Other Clarifications, amendments and interpretations Several other amendments and interpretations apply for the first time in 2018 and 2019, but do not have a significant impact on the consolidated financial statements of the Company.

Events occurred during the year

Events occurred during the year	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Events occurred during the year	3. Events occurred during the year i. Hyperinflation Argentina was considered a hyperinflationary economy in 2018. As a result, the Company has applied the IAS 29 accounting requirements to its Argentinean subsidiary with effect from January 1, 2018. The main implications of this are as follows: • 2017 figures were not restated (accounting policy); • Adjustment of the historical costs of non-monetary • The cumulative impact of the accounting restatement to adjust for the effects of hyperinflationary for years prior to 2018 is reflected in the translation differences (equity) in the beginning of 2018; • Adjustment of the consolidated statements of profit or loss to reflect the financial gain caused by the impact of inflation in the year on net monetary assets (loss of purchasing power); • The various components of consolidated statements of profit or loss and statement of cash flows have been adjusted for the inflation index since their recognition; and • All components of the financial statements of the Argentinean subsidiary have been translated at the closing exchange rate to the Company functional currency. The main effects on the consolidated financial statement for 2018 are as follows: Until December 31, Year ended December 31, BRL BRL USD Gross profit R$ — R$ 5,232 US$ 1,350 Operating loss — (13,866 ) (3,579 ) Net loss — 6,870 1,773 Non-monetary 3,165 3,019 779 Accumulated losses 2,302 9,172 2,367 The index used to reflect current values is derived from a combination of the wholesale price index (IPIM) and the consumer price index (IPC) published by Instituto Nacional de Estatisticas y Censos ii. Foreign operations Accounting policy, and Critical accounting estimates and judgments The classification as a discontinued operation occurs through disposal or when the operation meets the criteria to be classified as held for sale, if this occurs earlier. A discontinued operation is a component of a Company business comprising cash flows and operations that may be clearly distinct from the rest of the Company and that represents an important separate line of business or geographical operational area. The result of discontinued operations is presented in a single line in the statement of profit or loss, including the results after income tax of these operations less any impairment loss. When an operation is classified as a discontinued operation, the statement of profit or loss and the cash flow of the prior periods are restated as if the operation had been discontinued since the beginning of the comparative period. a. Mexico operation In August 2018, the Company entered into an agreement with the Grupo Sierra Capital (“Sierra”) to sell the entirety of its Mexico operations. In October 11, 2018 (the “Closing date”) the Company and Sierra concluded the transaction, which was preceded by final adjustments agreed by the parties under the original terms and conditions of the negotiation. As consequence of these adjustments, the final consideration has changed, and the Company received an amount of R$ 6,271 (USD 1,693 as of October 11, 2018). As part of the final agreement, the Company granted to the former Mexican subsidiaries a loan in the amount of R$8,801 (USD 2,462 as of October 11, 2018), recognized within Other current assets, with maturity on the first anniversary of the closing date. The Company signed a Transitional Services Agreement (“TSA”) with Sierra to outsource certain services relating to IT and marketing. The IT services are being provided to the former subsidiary for a term of eighteen months and Marketing services are being provided for a term of twelve months, both as from the Closing Date. The Company has a cost estimate R$2,865 (USD 739) to provide these services to the former subsidiary, such amount was deferred and will be recognized as expense reduction when the service is rendered. The Company recognized a gain of BRL 241 (USD 62) in the consolidated statements of profit and loss from discontinued operations, as summarized below. Year ended December 31, BRL Proceeds from sale R$ 6,271 Deferred revenue - TSA (2,865 ) Other related costs (1,793 ) Investments disposal (1,308 ) Foreign currency translation - OCI (64 ) R$ 241 The Company may receive additional earn-out The statements of profit or loss and cash flow from discontinued operations of the Mexico operation for the year ended December 31, 2018 are presented below, as well as the restatement of the corresponding years ended December 31, 2016 and 2017, as mentioned in Note 2.2. Years ended December 31, 2016 2017 2018 2018 BRL BRL BRL USD Note 2.2 Discontinued operations Net sales R$ 54,389 R$ 53,794 R$ 45,147 US$ 11,651 Cost of sales (44,422 ) (44,413 ) (35,984 ) (9,287 ) Gross Profit 9,967 9,381 9,163 2,364 Operating expenses: Selling and marketing expenses (12,708 ) (14,017 ) (9,550 ) (2,465 ) General and administrative expenses (12,238 ) (9,884 ) (8,514 ) (2,197 ) Total operating expenses (24,946 ) (23,901 ) (18,064 ) (4,662 ) Operating loss (14,979 ) (14,520 ) (8,901 ) (2,298 ) Financial income 82 1,136 905 234 Financial expenses (2,755 ) (2,737 ) (2,824 ) (729 ) Loss before income tax (2,673 ) (1,601 ) (1,919 ) (495 ) Income tax expense — (2 ) 0 0 Net loss R$ (17,652 ) R$ (16,123 ) R$ (10,820 ) US$ (2,793 ) Gain on sale of discontinued operation — — 241 63 Net loss from discontinued operations R$ (17,652 ) R$ (16,123 ) R$ (10,579 ) US$ (2,730 ) Years ended December 31, 2016 2017 2018 2018 BRL BRL BRL USD Note 2.2 Discontinued operations Cash flows from operating activities: Net loss R$ (17,652 ) R$ (16,123 ) R$ (10,820 ) US$ (2,793 ) Adjustments to reconcile net loss to net cash used in operating activities: Allowance for doubtful accounts — — 155 40 Depreciation and amortization 462 333 294 76 Loss on disposal of property and equipment, and intangible assets — 19 13 3 Interest expense, net 1,831 2,190 2,155 556 Provision for inventory losses (100 ) 479 644 166 Other (125 ) 2 0 0 Changes in operating assets and liabilities: (Increase) decrease in: Trade accounts receivable 120 (645 ) (85 ) (22 ) Inventories 2,709 (5,696 ) 3,916 1,011 Recoverable taxes 1,108 458 1,347 348 Other assets (296 ) 414 1,374 355 Increase (decrease) in: Trade accounts payable (3,982 ) 4,410 (6,192 ) (1,598 ) Taxes and contributions payable (157 ) 5 169 44 Accrued expenses (625 ) 1,118 11 3 Other liabilities 3,629 (82 ) (4,968 ) (1,282 ) Net cash provided by (used in) operating activities (13,078 ) (13,118 ) (11,987 ) (3,093 ) Cash flows from investing activities: Purchase of property and equipment (165 ) (133 ) (59 ) (15 ) Purchase of intangible assets (23 ) (17 ) 0 0 Net cash provided by (used in) investing activities (188 ) (150 ) (59 ) (15 ) Cash flows from financing activities: Proceeds from debt 25,306 25,832 26,169 6,754 Payments of debt (23,548 ) (28,671 ) (20,240 ) (5,224 ) Payments of interest (2,052 ) (2,203 ) (2,038 ) (526 ) Net cash provided by (used in) financing activities (294 ) (5,042 ) 3,891 1,004 Effect of exchange rate changes on cash and cash equivalents (60 ) 148 34 8 Net cash used in discontinued operations (13,620 ) (18,162 ) (8,121 ) (2,096 ) b. Argentina operation impairment During the first quarter of 2019 the Company decided to divest the Argentina operations, and recorded the impairment impact as follows: Year ended December 31, BRL USD Recoverable taxes R$ 4,828 US$ 1,246 Property and equipment 839 217 Intangible assets 12 3 R$ 5,679 US$ 1,466 See impairment analysis and conclusions in note 25. Subsequent event The subsidiaries (NS2.Com Internet S.A. and NS5 Participações Ltda.) have signed an agreement, in April 26, 2019 (“closing date”), to sell the entirety of its Argentina operations (NS3 Internet S.A.), which belongs to the reportable International segment, through the sale of all shares which they hold. Pursuant to terms of this transaction, the Company: • will receive ARS 1 (one Argentinean peso) for the shares that are transferred; • has granted to the former subsidiary a license for the period of eighteen months from the closing date, in Argentina, for the Company brand and e-commerce platform; • has agreed to provide certain services relating to IT for the period of eighteen months from the closing date; and • has agreed to contribute approximately ARS106,000 (approximately USD2,500) into NS3.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Segment Information	4. Segment Information Accounting policy An operating segment is a component of the Company that : a) engages in business activities from which it may earn revenues and incur expenditures, including revenues and expenses that relate to transactions with any of the Company’s other components, and b) whose operating results are regularly reviewed by the Company’s chief operating decision maker (“CODM”) to make decisions as to allocation of resources to the relevant segment and assess its performance and for which individual financial information is available. The Company uses the “management approach” to determine its reportable segments. The management approach identifies operating segments based on how the entity is organized and based on how financial information is presented to the chief operating decision maker (“CODM”). The Company concluded that the CODM is the Chief Executive Officer. The Company is organized around geographical divisions and discloses the following reportable segments: • Brazil: consists of retail sales of consumer products from all of our verticals (which includes sales of sporting goods and related garments as well as fashion and more recently, beauty goods) carried out through our sites Netshoes.com.br, Zattini.com.br, Shoestock.com.br, Freelace.com.br and third-party sites that we manage as well as our business to business offline operation. • Argentina: consists of retail sales of consumer products from sporting goods and related garments carried out through our site Netshoes.com.ar and third-party sites that we manage. Corporate functions and activities (primarily operating expenses, financial income and financial expenses recorded in Netshoes (Cayman) Limited and Netshoes Holding, LLC) are not allocated directly to the reportable segments and are disclosed below to reconcile the segments to the consolidated financial information. As explained in note 3, the Mexico operations were sold in October of 2018 and consequently they are presented as discontinued operations. The CODM receives individual financial information based on the nature of revenues and expenses incurred. There is no regular reporting of individual financial information for products, services, or major customers, and therefore the Company concluded that Brazil and Argentina were each independent reportable segment. No information on segment assets or liabilities is relevant for decision-making. There are no inter segment transactions in the internal reporting structure. The Company evaluates the performance of its reportable segments using “segment net income (loss)”. A reconciliation of reportable segments is as follows: Brazil Argentina Reconciling items (corporate and others) Total Year ended December 31, Year ended December 31, Year ended December 31, Year ended December 31, 2016 2017 2018 2018 2016 2017 2018 2018 2016 2017 2018 2018 2016 2017 2018 2018 BRL BRL BRL USD BRL BRL BRL USD BRL BRL BRL USD BRL BRL Restated BRL Restated USD Continuing operations Net Sales R$ 1,554,405 R$ 1,693,467 R$ 1,681,963 US$ 434,077 R$ 130,746 R$ 141,745 R$ 126,101 US$ 32,544 R$ — R$ — R$ 0 US$ 0 R$ 1,685,151 R$ 1,835,212 R$ 1,808,064 US$ 466,621 Cost of sales (1,043,700 ) (1,132,900 ) (1,280,376 ) (330,437 ) (100,531 ) (114,114 ) (109,466 ) (28,251 ) — — 0 0 (1,144,231 ) (1,247,014 ) (1,389,842 ) (358,687 ) Segment gross profit 510,705 560,567 401,587 103,640 30,215 27,631 16,635 4,293 — — 0 0 540,920 588,198 418,222 107,934 Salaries and employees’ benefits (191,140 ) (167,655 ) (193,466 ) (49,929 ) (18,152 ) (20,125 ) (18,845 ) (4,863 ) (1,320 ) (1,449 ) (1,810 ) (467 ) (210,612 ) (189,229 ) (214,121 ) (55,260 ) Marketing expenses (152,759 ) (184,836 ) (188,416 ) (48,626 ) (19,108 ) (18,392 ) (16,306 ) (4,208 ) (233 ) (781 ) (886 ) (229 ) (172,100 ) (204,009 ) (205,608 ) (53,063 ) Operating lease (24,683 ) (25,369 ) (25,928 ) (6,692 ) (2,214 ) (2,094 ) (2,195 ) (566 ) — — 0 0 (26,897 ) (27,463 ) (28,123 ) (7,258 ) Credit card fees (25,572 ) (30,213 ) (31,621 ) (8,161 ) (5,255 ) (5,032 ) (4,192 ) (1,082 ) — — 0 0 (30,827 ) (35,245 ) (35,813 ) (9,243 ) Information technology services (29,473 ) (30,064 ) (25,082 ) (6,474 ) (883 ) (712 ) (665 ) (172 ) (6,244 ) (6,054 ) (3,274 ) (845 ) (36,600 ) (36,830 ) (29,021 ) (7,491 ) Amortization and depreciation (27,777 ) (27,503 ) (41,104 ) (10,607 ) (798 ) (634 ) (1,094 ) (282 ) (2,163 ) (3,350 ) (15,824 ) (4,084 ) (30,738 ) (31,487 ) (58,022 ) (14,974 ) Consulting (7,785 ) (10,081 ) (18,861 ) (4,868 ) (680 ) (684 ) (620 ) (160 ) (1,215 ) (2,215 ) (8,831 ) (2,279 ) (9,680 ) (12,980 ) (28,312 ) (7,307 ) Allowance for doubtful accounts (6,227 ) (25,443 ) (13,014 ) (3,359 ) — — 0 0 — — 0 0 (6,227 ) (25,443 ) (13,014 ) (3,359 ) Sales commissions and royalties (12,021 ) (16,069 ) (17,459 ) (4,505 ) (959 ) (910 ) (940 ) (243 ) — — 0 0 (12,980 ) (16,979 ) (18,399 ) (4,748 ) Facilities expenses (14,020 ) (14,185 ) (13,480 ) (3,479 ) (1,390 ) (1,280 ) (1,084 ) (280 ) — — 0 0 (15,410 ) (15,465 ) (14,564 ) (3,759 ) Other selling, general and administrative expenses (35,803 ) (38,445 ) (21,587 ) (5,571 ) (5,465 ) (3,948 ) (3,728 ) (962 ) (64 ) (920 ) (1,589 ) (410 ) (41,332 ) (43,313 ) (26,904 ) (6,941 ) Other operating (expense) income, net (5,146 ) (3,849 ) (7,502 ) (1,935 ) (103 ) (28 ) (1,803 ) (465 ) (2 ) (56 ) (7 ) (2 ) (5,251 ) (3,933 ) (9,312 ) (2,403 ) Total operating expenses (532,406 ) (573,712 ) (597,520 ) (154,206 ) (55,007 ) (53,839 ) (51,472 ) (13,283 ) (11,241 ) (14,825 ) (32,221 ) (8,316 ) (598,654 ) (642,376 ) (681,213 ) (175,806 ) Financial income 26,642 27,672 14,539 3,752 731 500 427 110 912 824 60 15 28,285 28,996 15,026 3,878 Financial expenses (93,178 ) (116,947 ) (70,329 ) (18,150 ) (11,616 ) (10,002 ) (12,684 ) (3,273 ) (1 ) (2,091 ) (210 ) (54 ) (104,795 ) (129,040 ) (83,223 ) (21,478 ) Monetary correction gain (loss), net — — 0 0 — — 9,595 2,476 — — 0 0 — — 9,595 2,476 Loss before income tax (88,237 ) (102,420 ) (251,723 ) (64,964 ) (35,677 ) (35,710 ) (37,499 ) (9,677 ) (10,330 ) (16,092 ) (32,371 ) (8,355 ) (134,244 ) (154,222 ) (321,593 ) (82,996 ) Income tax expense — — 0 0 — — (202 ) (52 ) — — 0 0 — — (202 ) (52 ) Net loss R$ (88,237 ) R$ (102,420 ) R$ (251,723) US$ (64,964) R$ (35,677 ) R$ (35,710 ) R$ (37,701) US$ (9,729 ) R$ (10,330 ) R$ (16,092 ) R$ (32,371) US$ (8,355 ) R$ (134,244 ) R$ (154,222 ) R$ (321,795 ) US$ (83,048 ) The Company has aggregated its products and services into groups of similar products and provided the supplemental disclosure of Revenue below. The Company evaluates whether additional disclosure is appropriate when a product or service category begins to approach a significant level of Revenue. Year ended December 31, 2016 2017 2018 2018 BRL Restated BRL Restated BRL USD Sports (1) R$ 1,504,800 R$ 1,528,295 R$ 1,435,652 US$ 370,510 Fashion (1) 172,077 272,423 309,538 79,885 Market Place 8,274 34,494 62,874 16,226 Total net sales R$ 1,685,151 R$ 1,835,212 R$ 1,808,064 US$ 466,621 (1) Freight services were allocated to the product revenues that they are related to. Property and equipment and intangible assets by geography are as follows: Year ended December 31, 2017 2018 2018 BRL BRL USD Property and equipment, net Brazil R$ 69,350 R$ 76,489 US$ 19,740 Argentina 2,574 0 0 Mexico 1,115 0 0 Total property and equipment, net R$ 73,039 R$ 76,489 US$ 19,740 Intangible assets, net Brazil R$ 95,684 R$ 133,117 US$ 34,356 Argentina 11 0 0 Mexico 41 0 0 Cayman 20,103 10,200 2,631 Total intangible assets, net R$ 115,839 R$ 143,317 US$ 36,987 Total 188,878 219,806 56,727

Earnings (Loss) Per Share ("EPS

Earnings (Loss) Per Share ("EPS")	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Earnings (Loss) Per Share ("EPS")	5. Earnings (Loss) Per Share (“EPS”) Accounting policy Basic EPS is computed by dividing net income (loss) attributable to the owners of the Parent by the weighted average number of common shares outstanding for the periods presented. Diluted EPS reflects the potential dilution of share options that could be exercised or converted into common shares and is computed by dividing net income (loss) attributable to the owners of the Parent by the weighted average number of common share outstanding plus the potentially dilutive effect of share options. When the Company reports net loss attributable to the owners of the Parent, the diluted losses per common share are equal to the basic losses per common share due to the anti-dilutive effect of the outstanding share options. Earnings per share data for the periods presented have been calculated giving effect to the stock split of 1.0 for 3.0 which occurred immediately prior to the completion of the Initial Public Offering on April 18, 2017 (see note 1.2). The following table sets forth the computation of the Company’s basic and diluted loss per share attributable to the owners of the Parent for the years ended December 31, 2016, 2017 and 2018: Year ended December 31, 2016 2017 2018 2018 BRL Restated BRL Restated BRL USD Numerator Net loss for the period attributable to the owners of the Parent from continuing operations R$ (133,422 ) R$ (153,623 ) R$ (321,166 ) US$ (82,886 ) Net loss for the period attributable to the owners of the Parent from discontinued operations (17,652 ) (16,123 ) (10,579 ) (2,730 ) Denominator Weighted average number of outstanding shares of common stock 21,435,576 28,510,918 31,056,244 31,056,244 Loss per share attributable to the owners of the Parent (1) Basic and diluted R$ (7.05 ) R$ (5.95 ) R$ (10.68 ) US$ (2.76 ) Basic and diluted from continuing operations (6.22 ) (5.39 ) (10.34 ) (2.67 ) Basic and diluted from discontinued operations (0.83 ) (0.56 ) (0.34 ) (0.09 ) (1) When the Company reports net loss attributable to the owners of the Parent, the diluted loss per common share is equal to the basic losses per common share due to the anti-dilutive effect of the outstanding share options and convertible notes.

Revenue

Revenue	12 Months Ended
	Dec. 31, 2018
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Revenue	6. Revenue Accounting policy Revenue is measured based on the consideration to which the Company expects to be entitled in a contract with a customer and excludes amounts collected on behalf of third parties. The Company recognizes revenue when it transfers control of a product or service to a customer. i. Revenue from Product Sales Revenue from product sales arises from (i) online purchases on the Company’s sites (i.e. Netshoes, Zattini, Shoestock and Freelace) and third-party sites that the Company manages and (ii) offline purchases with the Company. Revenue is recognized when the goods are delivered and have been accepted by customers at their premises. For contracts that permit the customer to return an item, revenue is recognized to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur. Therefore, the amount of revenue recognized is adjusted for expected returns, which are estimated based on the historical data. In these circumstances, a refund liability and a right to recover returned goods asset are recognized. The Company recognizes revenue from product sales on a gross basis since the Company acts as principal and as such, it has primary responsibility for fulfilling the orders, it bears inventory risk, and it has discretion in establishing prices and bears the customer’s credit risk. ii. Other Revenues Other revenues mainly consist of the following: • Freight-related services: Revenue from the freight-related services is recognized once the service is rendered; • Marketplace platform: The Company generates revenue from the marketplace platform in the form of a commission, when the third-party vendors sell the products on Company’s platform. The Company recognizes revenue from the marketplace platform on a net basis because the Company acts as an agent and does not have primary responsibility for fulfilling the orders, bear inventory risk or have discretion in establishing prices; and • NCard: The Company generates commission revenue from the customers’ activation of NCards. The revenue is recognized when the NCards are activated by the customers. Critical accounting estimates and judgments For certain contracts that permit the customer to return an item, revenue is currently recognized when a reasonable estimate of return can be made, provided that all other criteria for revenue recognition are met. Because the contract allows the customer to return the products, the consideration received from the customer is variable. The Company has decided to use the expected value method to estimate the goods that will be returned because this method better predicts the amount of variable consideration to which the Company will be entitled. Details of Revenue for years ended December 31, 2016, 2017 and 2018 were as follows: Year ended December 31, 2016 2017 2018 2018 BRL Restated BRL Restated BRL USD Product sales - B2C R$ 1,579,857 R$ 1,734,204 R$ 1,672,380 US$ 431,604 Product sales - B2B 65,884 9,388 10,364 2,675 Other revenues - Freight related services 31,136 56,479 59,883 15,455 Other revenues - Marketplace 8,274 34,494 62,874 16,226 Other revenues - Ncard — 647 2,563 661 Total net sales R$ 1,685,151 R$ 1,835,212 R$ 1,808,064 US$ 466,621 The Company has established distribution centers in the Brazilian States of Pernambuco and Minas Gerais, where it has been granted tax incentives by local government which reduce the amount of sales taxes paid, effectively increasing the amount of revenue recognized. As a result of such tax incentives, sales to purchasers outside of the State of Pernambuco originated from our distribution center located in the city of Recife (State of Pernambuco, Brazil), enjoyed Pernambuco State ICMS tax rate range from 0.5% to 1.0% during 2017 and 2018, depending on the type of product offered. Also, sales to purchasers outside of the State of Minas Gerais originated from our distribution center located in the city of Extrema (State of Minas Gerais, Brazil) enjoyed a Minas Gerais State ICMS tax rate of 1.0% during 2017 and 2018. The incentive also determines that the Company is not allowed to take any credit for taxes paid on the purchase of products subsequently sold outside of those states such that these amounts become non-recoverable For the years ended December 31, 2016, 2017 and 2018, the total amounts of tax incentives recorded in Revenue are as follows: Year ended December 31, 2016 2017 2018 2018 BRL BRL BRL USD State of Pernambuco R$ 95,151 R$ 66,587 R$ 46,514 US$ 12,004 State of Minas Gerais 121,520 152,588 123,706 31,926 Total tax incentives - Net sales R$ 216,671 R$ 219,175 R$ 170,220 US$ 43,930

Deferred Revenue

Deferred Revenue	12 Months Ended
	Dec. 31, 2018
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Deferred Revenue	7. Deferred Revenue On October 30, 2015, the Company entered into a partnership agreement with a financial institution to create a co-branded Year ended December 31, 2017 2018 2018 BRL BRL USD Deferred revenue from exclusive use of customer database R$ 11,750 R$ 10,986 US$ 2,835 Deferred revenue from credit card activation 17,484 14,687 3,791 Total R$ 29,234 R$ 25,673 US$ 6,626 Current 3,732 3,983 1,028 Non-current 25,502 21,690 5,598 Deferred revenue from exclusive use of the Company’s customer database is recognized as other operating (expense) income, net in the consolidated statements of profit or loss using the straight-line method, over the period of the contract (10 years). In the years ended December 31, 2016, 2017 and 2018, the amount of R$1,500, R$ 1,500 and 1,500 (US$387), respectively, was recorded in other operating income related to customer database. Deferred revenue from credit card activation is recognized as other revenues within revenue, in the consolidated statements of profit or loss, when the credit cards are activated with the bank by the Company’s customers. In the years ended December 31, 2016, 2017 and 2018 the amount of R$0, R$647 and R$2,563 (US$661), respectively. In the event the bank decides to terminate the contract early, the Company will be entitled to the remaining amount of deferred revenue related to the customer database proportionally to the remaining period of the contract while credit cards activation deferred revenue balances will be reimbursed to the bank proportionally to credit cards not activated, with interest. In the event the Company decides to terminate the contract early, the amounts related to the customer database will be reimbursed to the bank proportionally to the remaining period of the contract and the amounts related to credit card activation will be reimbursed to the bank proportionally to credit cards not activated, both including interest. In addition, a penalty will be paid to the bank as follows: Penalty Termination year BRL 2019 6,300 2020 5,400 2021 4,500 2022 3,600 2023 2,700 2024 1,800 2025 900 Additionally, the bank and the Company will share the profit and loss of this partnership, equally. In case of losses in the partnership, the amount attributable to the Company will be compensated with future profits. Losses in the partnership will only be absorbed by the Company in case of early termination of the contract by the Company, therefore the revenue will be recorded when the right to receive payment is established by the amount net of losses.

Expenses and Financial Income a

Expenses and Financial Income and Expenses	12 Months Ended
	Dec. 31, 2018
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Expenses and Financial Income and Expenses	8. Expenses and Financial Income and Expenses Accounting policy Cost of sales consist of costs related to direct sales, including purchase price of consumer products sold to customers from direct sales, inbound freight charges to fulfillment center and outbound freight cost, packaging supplies, gains related to discounts obtained from suppliers and costs for lost, stolen or damaged goods received. Freight charges to receive products from suppliers are included in inventory and recognized as cost of sales upon sale of products to customers. Financial income comprises interest income on cash and cash equivalents, imputed interest income on installment sales arising from extended payment terms offered to our customers, foreign exchange gains and gains on derivative financial instruments. Interest income is recognized as it accrues in profit or loss, using the effective interest rate method. The rate used to determine imputed interest income on installment sales is 100% of the Brazilian Interbank Deposit Rate ( Certificado de Depósito Interbancário Financial expenses comprise interest expenses on debt and imputed interest expense on credit purchases with extended payment terms offered by our suppliers. Financial expenses also include bank fees, foreign exchange losses and losses on derivative instruments. Borrowing costs are recognized in the consolidated statements of profit or loss using the effective interest method. The rate to determine imputed interest expense on credit purchase is 100% of the CDI, plus a percentage that represents the Company’s credit risk. i. Costs of Sales The following is the breakdown of cost of sales for years ended December 31, 2016, 2017 and 2018, respectively: Year ended December 31, 2016 2017 2018 2018 BRL Restated BRL Restated BRL USD Cost of product sales R$ 1,004,917 R$ 1,085,362 R$ 1,206,757 US$ 311,437 Shipping costs 137,144 149,576 160,517 41,426 Others 2,170 12,076 22,568 5,824 Total cost of sales R$ 1,144,231 R$ 1,247,014 R$ 1,389,842 US$ 358,687 Cost of product sales include the non-recoverable non-recoverable Year ended December 31, 2016 2017 2018 2018 BRL BRL BRL USD State of Pernambuco R$ 30,507 R$ 25,218 R$ 26,220 US$ 6,767 State of Minas Gerais 52,463 81,113 74,409 19,203 Non-recoverable R$ 82,970 R$ 106,331 R$ 100,629 US$ 25,970 The impact of tax incentives net of non-recoverable During the years ended December 31, 2016, 2017 and 2018, the Company reviewed and changed ICMS tax positions taken on past transactions and recorded ICMS tax credits amounting to R$ 5,500, R$10,118, and R$0 (US$0), respectively, as a reduction of the cost of product sales. ii. Selling and Marketing Expenses The following is the breakdown of selling and marketing expenses for years ended December 31, 2016, 2017 and 2018, respectively: Year ended December 31, 2016 2017 2018 2018 BRL Restated BRL Restated BRL USD Salaries and employees’ benefits R$ 132,463 R$ 141,896 R$ 143,806 US$ 37,113 Marketing expenses 172,100 204,009 205,608 53,063 Operating lease 20,300 19,170 19,530 5,040 Credit card fees 30,827 35,245 35,813 9,243 Information technology services 1,896 1,414 1,040 269 Amortization and depreciation 7,624 4,312 7,155 1,846 Consulting — 870 5,651 1,458 Allowance for doubtful accounts 6,227 25,443 13,014 3,359 Sales commissions and royalties 12,980 16,979 18,399 4,748 Facilities expenses 12,117 12,556 11,271 2,909 Others 34,531 33,296 18,919 4,883 Total selling and marketing expenses R$ 431,065 R$ 495,190 R$ 480,206 US$ 123,931 iii. General and Administrative Expenses The following is the breakdown of general and administrative expenses for years ended December 31, 2016, 2017 and 2018, respectively: Year ended December 31, 2016 2017 2018 2018 BRL BRL Restated Restated BRL USD Salaries and employees’ benefits R$ 78,149 R$ 47,333 R$ 70,315 US$ 18,147 Operating lease 6,597 8,293 8,593 2,218 Information technology services 34,704 35,416 27,981 7,221 Amortization and depreciation 23,114 27,175 50,867 13,128 Consulting 9,680 12,110 22,661 5,848 Facilities expenses 3,293 2,909 3,293 850 Others 6,801 10,017 7,985 2,060 Total general and administrative expenses R$ 162,338 R$ 143,253 R$ 191,695 US$ 49,472 iv. Financial Income and Expenses The following is the breakdown of financial income and expenses of the Company for years ended December 31, 2016, 2017 and 2018, respectively: Year ended December 31, 2016 2017 2018 2018 BRL BRL Restated Restated BRL USD Interest income R$ 19,675 R$ 24,631 R$ 9,833 US$ 2,538 Foreign exchange gain 2,090 1,336 2,871 741 Imputed interest on installment sales(1) 5,706 2,255 2,259 583 Derivative financial instruments gain — 764 0 0 Other 814 10 63 16 Total financial income R$ 28,285 R$ 28,996 R$ 15,026 US$ 3,878 (1) This includes discounts charged by credit card acquirers for the advanced payment of receivables due from them (arising from sales to Company´s customers paid for using credit cards) of R$24,900, R$23,114 and R$16,826 (USD 4,320) for years ended December 31, 2016, 2017 and 2018, respectively. Year ended December 31, 2016 2017 2018 2018 BRL BRL Restated Restated BRL USD Interest expense R$ 65,081 R$ 61,287 R$ 33,302 US$ 8,595 Imputed interest on credit purchases 32,653 53,981 30,439 7,856 Bank charges 3,005 6,451 5,287 1,364 Derivative financial instruments loss 492 — 0 0 Foreign exchange loss — 1,810 6,179 1,595 Debt issuance costs 2,532 4,665 2,447 632 Other 1,032 846 5,569 1,436 Total financial expense R$ 104,795 R$ 129,040 R$ 83,223 US$ 21,478

Cash and Cash Equivalents

Cash and Cash Equivalents	12 Months Ended
	Dec. 31, 2018
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Cash and Cash Equivalents	9. Cash and Cash Equivalents Accounting policy Cash and cash equivalents include cash on hand, bank deposits and highly liquid investments in fixed-income funds with an initial maturity of less than three months and subject to an insignificant risk of change in value. Cash and cash equivalents are held with banks and financial institutions counterparties, which are rated BB-, Year ended December 31, 2017 2018 2018 BRL BRL USD Cash and bank balances R$ 17,801 R$ 6,108 US$ 1,576 Cash equivalents 378,161 61,213 15,798 Total cash and cash equivalents R$ 395,962 R$ 67,321 US$ 17,374 Cash equivalents are investments in Bank Deposit Certificates (“CDB”) with original maturities of 90 days or less and investments funds with an insignificant risk of change in value and with daily liquidity, issued by Brazilian financial institutions, that accrue at an average interest rate of 89.93% of CDI (Interbank Deposit Certificate rate).

Trade Accounts Receivable, Net

Trade Accounts Receivable, Net	12 Months Ended
	Dec. 31, 2018
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Trade Accounts Receivable, Net	10. Trade Accounts Receivable, Net Accounting policy The Company’s trade accounts receivables are represented by credit sales (installments) funded by credit card operators and receivables from B2B (business-to-business) non-current Trade accounts receivable are recognized at fair value which primarily represents the present value of the amount receivable and subsequently measured at amortized cost using the effective interest method, less any impairment losses. When a trade accounts receivable is uncollectible, it is written-off written-off Policy applicable before January 01, 2018 An impairment loss of trade accounts receivable is recognized when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the relevant receivables. Significant financial difficulties of the debtor, probability that the debtor will enter bankruptcy or financial reorganization, and default or delinquency in payment are considered indicators that the trade accounts receivable may be impaired. Policy applicable from January 01, 2018 The Company always measures loss allowance for trade receivables at an amount equal to lifetime ECLs. Lifetime ECLs are the ECLs that result from all possible default events over the expected life of the instrument. The Company uses provision matrixes to determine its ECLs for trade account receivables. Critical accounting estimates and judgments The estimated ECLs (Expected Credit Loss) were calculated based on actual credit loss experience over the past two years, with ECL rates calculated separately for B2C (business-to-consumer) (business-to-business) Factors considered were: • Significant financial difficulty of the customer; • Payment default; • Exposure to expected losses; • High probability of customer bankruptcy; • Breach of contract, such as default or delinquency in interest or principal; and • Adverse change in a factor (for example, unemployment rates, external credit ratings). Exposures within each group are based on credit risk characteristics and aging status. As disclosed in note 19 Year ended December 31, 2017 2018 2018 BRL BRL USD Trade accounts receivables R$ 134,039 R$ 184,954 US$ 47,733 Allowance for doubtful accounts (20,871 ) (21,147 ) (5,458 ) Total trade accounts receivables, net R$ 113,168 R$ 163,807 US$ 42,275 The changes in the allowance for doubtful trade accounts receivable for years ended December 31, 2016, 2017 and 2018 are as follows: Year ended December 31, 2016 2017 2018 2018 BRL BRL BRL USD Balance at January 1 R$ (555 ) R$ (1,722 ) R$ (20,871 ) US$ (5,387 ) Additions (6,227 ) (25,443 ) (13,014 ) (3,359 ) Adjustment from adoption of IFRS 9 (a) — — (2,322 ) (599 ) Adjustment from adoption of IFRS 9 (b) — — (701 ) (181 ) Sale of Mexico operation — — 155 40 Write-offs 5,060 6,294 15,606 4,028 Balance at December 31 R$ (1,722) R$ (20,871) R$ (21,147) US$ (5,458) a) Impact of adopting IFRS9 on opening balance, related to reclassification from accounts receivables (“gross”) to allowance for doubtful accounts at January 1, 2018 as disclosed in Note 2.6. b) Impact of adopting IFRS9 on opening balance, recognized in Accumulated losses as at January 1, 2018 as disclosed in Note 2.6. Information about the Company’s exposure to credit and other market risks is included in note 19.

Inventories, Net

Inventories, Net	12 Months Ended
	Dec. 31, 2018
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Inventories, Net	11. Inventories, Net Accounting policy Inventories are valued at the lower of cost and net realizable value. The cost of inventories is based on the weighted-average method, and includes expenditures incurred in acquiring relevant inventories and other costs incurred in bringing them to their existing location and condition. Cost of purchase of inventories comprises their purchase price including non-recoverable When inventories are sold, the carrying amount of those inventories is recognized as cost of sales in the consolidated statements of profit or loss in the period in which the related revenue is recognized. The amount of any write-down of inventories to net realizable value and all losses of inventories are recognized as an expense in the period the write-down or loss occurs. The amount of any reversal of any write-down of inventories is recognized as a reduction in the amount of inventories recognized as an expense in the period in which the reversal occurs. Critical accounting estimates and judgments The Company writes down the carrying value of its inventories for estimated amounts related to the lower of cost or net realizable value, obsolescence or unmarketable inventory equal to the difference between the cost of inventory and the estimated net realizable value. The estimated net realizable value of inventory is based on historical usage and assumptions about future demand, future product purchase commitments and market conditions on a product-by-product Year ended December 31, 2017 2018 2018 BRL BRL USD Finished goods for resale R$ 466,486 R$ 308,666 US$ 79,660 Right to recover returned goods — 2,282 589 Allowance for slow moving and others (9,854 ) (42,354 ) (10,931 ) Total inventories, net R$ 456,632 R$ 268,594 US$ 69,318 During the years December 31, 2016, 2017 and 2018, inventories of R$1,040,803, R$1,126,781 and R$1,014,856 (US$261,669) were sold and recognized as cost of sales in the consolidated statements of profit or loss, respectively. Due to obsolescence, damaged and slow-moving items, the Company recognizes an allowance on the related inventories to their net realizable value. For years ended December 31, 2016, 2017 and 2018, the Company recognized a loss of R$949, R$4,904 and R$64,187 (US$16,565), respectively, which was included in cost of sales in the consolidated statements of profit or loss. During the third quarter of 2018, the Company terminated a commercial relationship with the supplier of B2B operation (Midway Labs). As consequence the Company adjusted margins of nutrition supplements products, in order to accelerate sales through its B2C channel. The Company recognized additional allowances for net realizable value of R$44,367 and a write-off

Recoverable Taxes

Recoverable Taxes	12 Months Ended
	Dec. 31, 2018
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Recoverable Taxes	12. Recoverable Taxes Year ended December 31, 2017 2018 2018 BRL BRL USD VAT Taxes Brazil (ICMS) R$ 107,965 R$ 90,069 US$ 23,245 VAT Taxes International 16,261 1,168 301 Taxes other than income tax (PIS and COFINS) 14,829 176 45 Withholding income taxes 4,467 5,869 1,515 Others 7,290 1,965 507 Total recoverable taxes R$ 150,812 R$ 99,247 US$ 25,613 Current 80,047 59,214 15,282 Non-Current 70,765 40,033 10,332 The Company recognized an impairment loss of R$ 4,828 on VAT Taxes International, due to decision to close Argentina operations (see Note 3).

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
	Dec. 31, 2018
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Property and Equipment, Net	13. Property and Equipment, Net Accounting policy Property and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses. Cost includes the purchase price and any other costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating. The cost of a self-constructed asset is determined using the same principles as for an acquired asset. Depreciation is recognized on a straight-line basis method, reflecting the pattern in which the asset’s future economic benefits are expected to be consumed by the Company. The estimated useful lives are as follows: Asset Class Useful Life (years) Leasehold improvements 10 Machinery and equipment 10 Hardware 6 Facilities 15 Furniture and fixture 12 Vehicles 5 Gain or loss arising from the disposal of property and equipment is determined as the difference between the net disposal proceeds, if any, and the carrying amount of the item and recognized in other operating income (expenses) in the consolidated statements of profit or loss. Critical accounting estimates and judgments See impairment analysis and conclusions in note 25. Breakdown of and changes in property and equipment are as follows: Leasehold Machinery and Hardware Facilities Furniture and Vehicles Construction Total Total BRL BRL BRL BRL BRL BRL BRL BRL USD As of January 1, 2016 33,463 13,596 R$ 10,259 R$ 5,932 R$ 2,995 R$ 150 R$ 1,287 R$ 67,682 Additions 10,903 2,569 7,403 758 1,218 157 3,384 26,392 Disposals (180 ) (76 ) (220 ) (39 ) (194 ) (1 ) — (710 ) Depreciation for the year (9,833 ) (2,012 ) (4,054 ) (725 ) (629 ) (36 ) — (17,289 ) Tranfers 602 — 673 — 11 — (1,286 ) — Net exchange differences arising from translation adjustments (202 ) (278 ) (115 ) (1,152 ) (119 ) (7 ) — (1,873 ) As of December 31, 2016 R$ 34,753 R$ 13,799 R$ 13,946 R$ 4,774 R$ 3,282 R$ 263 R$ 3,385 R$ 74,202 Additions 358 207 2,018 543 701 — 4,084 7,911 Disposals — — (23 ) (7 ) (17 ) (152 ) — (199 ) Depreciation for the year (1,944 ) (1,444 ) (3,925 ) (657 ) (524 ) (34 ) — (8,528 ) Tranfers 3,340 131 206 205 755 — (4,637 ) — Net exchange differences arising from translation adjustments (43 ) (81 ) (2 ) (190 ) (32 ) 1 — (347 ) As of December 31, 2017 36,464 12,612 12,220 4,668 4,165 78 2,832 73,039 18,850 Additions 185 243 1,308 772 632 — 17,742 20,882 5,389 Disposals (726 ) (75 ) (499 ) (39 ) (202 ) 0 0 (1,541 ) (398 ) Depreciation for the year (5,742 ) (2,354 ) (3,160 ) (422 ) (491 ) (27 ) 0 (12,196 ) (3,147 ) Tranfers 215 18,733 1,602 14 0 (20,564 ) 0 0 Net exchange differences arising from translation adjustments (157 ) (322 ) (70 ) (961 ) (115 ) 0 0 (1,625 ) (419 ) Monetary correction gain, net 366 493 52 1,663 61 (1 ) 0 2,634 680 Impairment (366 ) (681 ) (166 ) (2,146 ) (176 ) 0 0 (3,535 ) (912 ) Sale from Mexico operation 0 (125 ) (180 ) (769 ) (95 ) 0 0 (1,169 ) (303 ) As of December 31, 2018 R$ 30,239 R$ 28,524 R$ 9,505 R$ 4,368 R$ 3,793 R$ 50 R$ 10 R$ 76,489 19,740 At December 31, 2017 and 2018, properties with a carrying amount of R$4,547 and R$0 (US$0), respectively were granted as collateral under certain loan and financing arrangements. During the year ended December 31, 2018, the main additions relate to the Extrema warehouse expansion.

Intangible assets, Net

Intangible assets, Net	12 Months Ended
	Dec. 31, 2018
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Intangible assets, Net	14. Intangible assets, Net Accounting policy Intangible items are recognized as intangible assets when they meet the following criteria: • the item is identifiable and separable; • the Company has the capacity to control future economic benefits from the item; and • the item will generate future economic benefits. Intangible assets consist mainly of trademark, software purchased, and software internally developed. Intangible assets acquired separately by the Company are measured at cost, which includes capitalized borrowing costs. Subsequent to initial recognition, the intangible assets are carried at cost less any accumulated amortization and any accumulated impairment losses. Intangible assets are amortized on a straight-line basis over their estimated useful lives. Amortization of the asset begins when development is complete, and the asset is available for use. Indefinite life intangibles are not amortized but are tested for impairment at each year-end Asset Class Useful Life (years) Purchased software 5 Internally developed software 5 Trademark Indefinite Amortization methods, useful lives and residual values are reviewed at each financial year-end An intangible asset is derecognized on disposal when no future economic benefits are expected from its use or disposal. Gain or loss arising from derecognition of an intangible asset is determined as the difference between the net sale proceeds, if any, and the carrying amount of the intangible asset. When an intangible asset is derecognized, it is recorded as other operating expenses in the consolidated statements of profit or loss. Expenditure on research activities, undertaken with the prospects of gaining new scientific or technical knowledge and understanding, is recognized as an expense in the statements of profit or loss when incurred. Critical accounting estimates and judgments Development activities involve a plan or project aimed at putting in use new or significantly improved technologies. Development costs are capitalized only if the Company can demonstrate all of the following: • the technical feasibility of completing the intangible asset so that it will be available for use or sale; • its intention to complete the intangible asset and use or sell it; • its ability to use or sell the intangible asset; • how the intangible asset will generate probable future economic benefits. Among other things, the Company can demonstrate the existence of a market for the output of the intangible asset or the intangible asset itself or, if it is to be used internally, the usefulness of the intangible asset; • the availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset; and • its ability to measure reliably the expenditure attributable to the intangible asset during its development. The expenditures capitalized include the cost of materials, labor and other costs that are directly attributable to preparing the asset for its intended use. Other development expenditures are recognized as expenses in the statements of profit or loss when incurred. See impairment analysis and conclusions in note 25. Breakdown of and changes in intangible assets are as follows: Software Software Software Trademark Other Total Total BRL BRL BRL BRL BRL BRL USD As of January 1, 2016 18,219 R$ 26,794 R$ 7,087 R$ — R$ 559 R$ 52,659 Additions 1,738 15,722 18,760 14,001 — 50,221 Disposals — (187 ) — — — (187 ) Amortization for the year (5,777 ) (8,134 ) — — — (13,911 ) Tranfers 316 5,529 (5,845 ) — — — Net exchange differences arising from translation adjustments (25 ) (1,164 ) — — — (1,189 ) As of January 1, 2017 R$ 14,471 R$ 38,560 R$ 20,002 R$ 14,001 R$ 559 R$ 87,593 Additions 4,850 10,641 35,562 — — 51,053 Disposals — — — — — — Amortization for the year (6,320 ) (16,972 ) — — — (23,292 ) Tranfers 1,475 27,852 (29,327 ) — — — Net exchange differences arising from translation adjustments (2 ) 474 13 — — 485 As of December 31, 2017 14,474 60,555 26,250 14,001 559 115,839 29,897 Additions 11,546 2,231 59,119 0 1 72,897 18,813 Disposals (1,142 ) 0 (1,085 ) 0 0 (2,227 ) (575 ) Amortization for the year (8,694 ) (36,438 ) 0 0 0 (45,132 ) (11,648 ) Tranfers 0 72,970 (72,970 ) 0 0 0 0 Net exchange differences arising from translation adjustments (16 ) 1,951 85 0 0 2,020 521 Monetary correction gain, net 10 0 0 0 0 10 3 Impairment (48 ) 0 0 0 0 (48 ) (12 ) Sale from Mexico operation (42 ) 0 0 0 0 (42 ) (11 ) As of December 31, 2018 R$ 16,088 R$ 101,269 R$ 11,399 14,001 R$ 560 R$ 143,317 U$ 36,988 The amortization cost of intangible assets is recognized in the consolidated statements of profit or loss and allocated into selling expenses and general and administrative expenses based on the nature and use of intangible assets. During the year ended December 31, 2018, the main additions to software developed relates to the new website platform. Included in this amount are capitalized borrowing costs of R$1,060 (US$274), calculated using a capitalization rate of TJLP (Long-Term Interest Rate) plus 3% p.a..

Trade accounts payable

Trade accounts payable	12 Months Ended
	Dec. 31, 2018
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Trade accounts payable	15. Trade accounts payable Accounting policy Trade accounts payable are obligations to pay for goods or services that have been acquired in the ordinary course of business. Trade accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current Trade accounts payable are initially discounted to the present value of consideration due if payment is deferred and subsequently measured at amortized cost using the effective interest method. Year ended December 31, 2017 2018 2018 BRL BRL USD Trade accounts payable - domestic R$ 339,634 R$ 331,656 US$ 85,593 Trade accounts payable - foreign 26,201 5,464 1,410 Total trade accounts payable R$ 365,835 R$ 337,120 US$ 87,003 Information about the Company’s exposure to currency and liquidity risks is included in note 19.

Reverse factoring

Reverse factoring	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Reverse factoring	16. Reverse factoring Accounting policy Under reverse factoring, financial institutions commit to pay the Company’s suppliers at an accelerated rate in exchange for a trade discount. The Company derecognizes trade accounts payable to suppliers and recognizes financial liabilities with respect to the relevant financial institutions under “Reverse Factoring” in its consolidated statements of financial position. Cash payments made by financial institutions for reverse factoring to relevant suppliers are classified as operating activities in the consolidated statements of cash flows. Reverse factoring are initially discounted to the present value of consideration due if payment is deferred and subsequently measured at amortized cost using the effective interest method. Year ended December 31, 2017 2018 2018 BRL BRL USD Trade accounts payable R$ 126,755 R$ 31,731 US$ 8,189 Other liabilities 22,173 13,545 3,496 Total reverse factoring R$ 148,928 R$ 45,276 US$ 11,685 The Company has entered into reverse factoring with financial institutions in order to allow suppliers to advance receivables related to the Company’s purchases of inventories.

Accrued Expenses

Accrued Expenses	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Accrued Expenses	17. Accrued Expenses Year ended December 31, 2017 2018 2018 BRL BRL USD Selling and marketing services R$ 76,228 R$ 73,932 US$ 19,080 Provision for sales with a right of return — 3,803 981 Freight 11,087 17,340 4,475 Gift card 7,191 7,722 1,993 Information technology 3,460 6,099 1,574 Acquisition of fixed assets and intangible 1,710 2,182 563 Rentals 2,987 4,226 1,091 Services 4,047 11,188 2,887 Employees benefits 3,566 2,099 542 Other 10,090 8,130 2,099 Total accrued expenses R$ 120,366 R$ 136,721 US$ 35,285

Debt

Debt	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Debt	18. Debt Accounting policy Debts are initially measured at fair value, net of transaction costs incurred and are subsequently carried at amortized cost and updated using the effective interest rate method. Any difference between the proceeds (net of transaction costs) and the redemption value is recognized in the consolidated statements of profit or loss over the period of the loan, using the effective interest rate method. The fees paid in obtaining the loan are recognized as transaction costs. The carrying value of the Company’s outstanding debt consists of the following: Year ended December 31, 2017 2018 2018 BRL BRL USD Secured borrowings R$ 201,769 R$ 164,539 US$ 42,464 Nonconvertible notes - Debentures 84,202 64,340 16,605 Total long-term debt 285,971 228,879 59,069 Current portion of long-term debt 106,577 38,473 9,929 Long-term debt, net of current portion R$ 179,394 R$ 190,406 US$ 49,140 The terms and conditions for loans and borrowings as of December 31, 2017 and 2018 are as follows: At December 31, At December 31, At December 31, Currency Nominal interest Years of Carrying amount Carrying amount Carrying amount BRL BRL USD Secured borrowing - FINAME/BNDES R$ 5.5% 2018 200 0 0 Secured borrowing - FINAME/BNDES R$ 3.0% 2018 338 0 0 Secured borrowing - Working capital (i) R$ 138.5% of CDI 2021 115,783 93,881 24,229 Secured borrowing - Working capital (ii) R$ 100% of CDI + 3.6% 2021 56,811 45,338 11,701 Secured borrowing - Working capital (iii) R$ TJLP +3% 2026 26,188 25,520 6,586 Nonconvertible notes - Debentures (iv) R$ 100% of CDI + 3.2% 2021 84,202 64,140 16,553 Bank Loan MXN TIIE + 1.6% 2,449 0 0 Total 285,971 228,879 59,069 CDI: Interbank Deposit Certificate rate. TJLP : Long-Term Interest Rate FINAME/BNDES: Special Agency for Industrial Financing / National Bank of Economic and Social Development The Company’s subsidiary NS2 entered into secured borrowing and bank loan arrangements for working capital and acquisition of property and equipment. Additionally, the subsidiary NS2 issued nonconvertible debentures to settle previous debt and for working capital purposes. The secured borrowings and debentures are secured by the fiduciary assignment of the trade accounts receivable originated by credit card sales with a carrying amount of R$87,418 and R$80,220 (US$20,703) on December 31, 2017 and 2018, respectively. As a consequence of obtaining secured borrowings for working capital purposes, NS2 assumed the covenant of maintaining the ratio between financial debt and accounts receivable from credit card operators lower or equal to 3 (three). For the nonconvertible debentures issuance, NS2 assumed contractual commitments that may accelerate the maturity of obligations in their entirety if the following situations occur, mainly related to: i) non-payment non-compliance The Company was in compliance as of December 31, 2017 and 2018, with all financial covenants described above, as demonstrated below: Year ended December 31, 2017 2018 2018 BRL BRL USD Credit card operations - Gross (1) 114,218 159,023 41,040 Long-term debt 285,971 228,879 59,069 Coefficient ratio (lower or equal to 3) 2.50 1.44 1.44 (1) For covenants calculation purposes, the numerator used to calculate the ratio (credit card gross) represents the balance receivable from credit card operators as of December 31, 2017 and 2018 considering the face value of the corresponding sales invoices (i.e. including interest over installment sales). (i) In July 2018, the subsidiary NS2.Com Internet S.A. renegotiated a secured borrowing facility agreement with Banco do Brasil S.A. for an aggregate principal amount of R$96.2 million. Principal and interest on the loan are payable on a monthly basis, and the maturity, after renegotiation, changed from August 2020 to July 2021, with a 12-month (ii) In July 2018, the subsidiary NS2.Com Internet S.A. renegotiated a secured borrowing facility agreement with Banco Bradesco S.A. for an aggregate principal amount of R$46.1 million. Principal and interest on the loan are payable on a monthly basis, and the maturity, after renegotiation, changed from September 2020 to July 2021, with a 12-month (iii) On July 03, 2017, the Company entered into a financing agreement with Financiadora de Estudos e Projetos – FINEP (public institution linked to the Ministry of Science and Technology), in the amount of R$79,667. The funds from this financing will be part of a financing package aimed at supporting the strategic plan of innovation. The financing has a grace period of 24 months, which covers the period from the agreement signature date and to the date of maturity of the amortization installment, payable in 85 installments, with the first one falling due on July 15, 2019 and the last on July 15, 2026. The first tranche of R$25.8 million was received in October 2017. As at December 31, 2018, no further tranches have been drawdown. (iv) In August 2018, the subsidiary NS2.Com Internet S.A. renegotiated nonconvertible notes (Debentures) agreement for an aggregate principal amount of R$66.1 million. Principal and interest on the loan are payable on a quarterly basis, and the maturity, after renegotiation, changed from March 2020 to September 2021, with a 12-month For the three renegotiations explained above (i, ii and iv), the Company determined that the terms have not been substantially modified. The fees paid amount to R$1,682 and is being deferred for the remaining term of these contracts. The weighted average interest rate for debt was 9.87% and 9.55% for the years ended December 31, 2017 and 2018, respectively. Reconciliation of movements of assets, liabilities and equity to cash flows arising from financing activities Assets or liabilities Long term debt Reverse factoring Trade accounts payable Trade accounts receivable BRL USD BRL USD BRL USD BRL USD As of January 1, 2018 R$ 285,971 US$ 73,803 R$ 148,928 US$ 38,435 R$ 365,835 US$ 94,414 R$ 113,168 US$ 29,206 Changes from financing cash flows Payments of debt (57,040 ) (14,721 ) 0 0 0 0 0 0 Payments of interest (23,056 ) (5,950 ) 1,788 461 (34,690 ) (8,953 ) (6,931 ) (1,789 ) Total from financing cash flows (80,095 ) (20,671 ) 1,788 461 (34,690 ) (8,953 ) (6,931 ) (1,789 ) Other changes Adjustments to reconcile net loss to net cash used in operating activities 25,453 6,569 (1,789 ) (462 ) 32,227 8,317 (8,350 ) (2,155 ) Changes in discontinued operations (2,450 ) (632 ) 0 0 (24,755 ) (6,389 ) (1,369 ) (353 ) Changes in operating assets and liabilities 0 0 (103,652 ) (26,750 ) (1,497 ) (386 ) 67,290 17,366 Total from other changes 23,003 5,936 (105,440 ) (27,212 ) 5,975 1,542 57,570 14,858 As of December 31, 2018 R$ 228,879 US$ 59,069 R$ 45,276 US$ 11,685 R$ 337,120 US$ 87,003 R$ 163,807 US$ 42,275 Assets or liabilities Long term debt Reverse factoring Trade accounts payable Trade accounts receivable BRL BRL BRL BRL As of January 1, 2017 R$ 387,382 R$ 27,867 R$ 335,430 R$ 213,994 Proceeds from debt 159,984 — — — Payments of debt (170,459 ) — — — Payments of interest (46,613 ) (916 ) (55,936 ) (7,166 ) Proceeds from issuance of common shares — — — — Total from financing cash flows (57,088 ) (916 ) (55,936 ) (7,166 ) Other changes Adjustments to reconcile net loss to net cash used in operating activities 50,277 916 53,981 (18,277 ) Changes in operating assets and liabilities — 121,061 34,290 (74,450 ) Cash flows from investing activities — — — (2,071 ) Non-cash (94,151 ) — — — Effect of changes in foreign exchange rates (449 ) — (1,930 ) 1,138 Total from other changes (44,323 ) 121,977 86,341 (93,660 ) As of December 31, 2017 R$ 285,971 R$ 148,928 R$ 365,835 R$ 113,168

Financial Instruments - Fair Va

Financial Instruments - Fair Value and Risk Management	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Financial Instruments - Fair Value and Risk Management	19. Financial Instruments - Fair Value and Risk Management Accounting policy, and Critical accounting estimates and judgments The Company classifies non-derivative non-derivative i. Classification Policy applicable before January 01, 2018 The Company classifies non-derivative held-to-maturity available-for-sale non-derivative Policy applicable from January 01, 2018 The Company classifies non-derivative non-derivative ii. Non-derivative The Company initially recognizes financial assets and financial liabilities when it becomes a party to the contractual provisions of the instrument. The Company derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred, or it neither transfers nor retains substantially all of the risks and rewards of ownership and does not retain control over the transferred asset. Any interest in such derecognized financial assets that is created or retained by the Company is recognized as a separate asset or liability. The Company derecognizes a financial liability when its contractual obligations are extinguished – i.e. when they are discharged, cancelled or expire or are substantially modified or exchanged for an obligation with substantially different terms. Financial assets and financial liabilities are offset, and the net amount presented in the statement of financial position when, and only when, the Company currently has a legally enforceable right to offset the amounts and intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously. iii. Non-derivative Policy applicable before January 01, 2018 a. Financial assets classified as loans and receivables Loans and receivables are non-derivative All the Company’s financial assets are classified as loans and receivables. Policy applicable from January 01, 2018 b. Financial assets at amortized cost A financial asset is classified as at amortized cost when its contractual cash flows consist only of payment of principal and interest and it is held in a business model whose objective is to hold assets to collect contractual cash flows. These assets are initially measured at fair value plus any directly attributable transaction costs. Subsequent to initial recognition, they are measured at amortized cost using the effective interest method. The amortized cost is reduced by impairment losses. Interest income and impairment are recognized in profit or loss. Any gain or loss on derecognition is recognized in profit or loss. All the Company’s financial assets qualify to be measured at amortized cost. iv. Non-derivative Financial liabilities are classified as other financial liabilities and are initially measured at fair value less any directly attributable transaction costs. Subsequent to initial recognition, these liabilities are measured at amortized cost using the effective interest method. v. Fair Value Measurements Several accounting policies and disclosures require fair value measurement, for both financial and non-financial When measuring the fair value of an asset or a liability, the Company uses observable market data as far as possible. Fair values are categorized into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows: • Level 1 — unadjusted quoted prices in active markets for identical assets or liabilities. • Level 2 — inputs other than quoted prices included in Level 1 that are observable for the assets or liability, either directly or indirectly • Level 3 — inputs for the assets or liability that are not based on observable market data. If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair value hierarchy, then the fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. The Company recognizes transfers between levels of the fair value hierarchy in the reporting period during which the change has occurred. i. Accounting classifications and fair values The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. It does not include fair value information for financial assets and financial liabilities if the carrying amount is a reasonable approximation of fair value. As at December 31, 2017 Carrying amount Finacial assets Finacial measured at liabilities amortized measured at Fair value cost amortized cost Total BRL BRL BRL BRL Financial assets or liabilities, not measured at fair value Cash and cash equivalents — 395,962 — 395,962 Restricted cash, current and non-current — 34,445 — 34,445 Trade accounts receivables — 113,168 — 113,168 Due from related parties — 12 — 12 Judicial deposits — 106,914 — 106,914 Other assets, current and non-current 22,246 — 22,246 Trade accounts payable — — (365,835 ) (365,835 ) Reverse factoring — — (148,928 ) (148,928 ) Long-term debt — — (285,971 ) (285,971 ) Accrued expenses — — (120,366 ) (120,366 ) Other current liabilities — — (31,017 ) (31,017 ) Total R$ — 672,747 (952,117 ) (279,370 ) As at December 31, 2018 Carrying amount Finacial assets Finacial measured at liabilities amortized measured at Fair value cost amortized cost Total Total BRL BRL BRL BRL USD Financial assets or liabilities, not measured at fair value Cash and cash equivalents R$ 0 67,321 0 67,321 US$ 17,374 Restricted cash, current and non-current 0 21,529 0 21,529 5,556 Trade accounts receivables 0 163,807 0 163,807 42,275 Due from related parties 0 7 0 7 2 Judicial deposits 0 119,717 0 119,717 30,896 Other assets, current and non-current 0 14,166 0 14,166 3,656 Trade accounts payable 0 0 (337,120 ) (337,120 ) (87,003 ) Reverse factoring 0 0 (45,276 ) (45,276 ) (11,685 ) Long-term debt 0 0 (228,879 ) (228,879 ) (59,069 ) Accrued expenses 0 0 (136,721 ) (136,721 ) (35,285 ) Other liabilities, current and non-current 0 0 (25,711 ) (25,711 ) (6,636 ) Total R$ 0 386,547 (773,707 ) (387,160 ) US$ (99,917 ) ii. Measurement of fair values The Company’s financial instruments, including cash and cash equivalents, restricted cash, trade accounts receivable, trade accounts payable and other payables, are carried at cost, which approximates fair value due to the short-term maturity of these instruments. The estimated fair value of Long-term debts is based on the current rates offered to the Company of the same remaining maturities, which is categorized as a Level 2 measurement in the fair value hierarchy. As a substantial portion of these financial instruments has been contracted at floating rates of interest, which are reset at short intervals, the carrying value of these financial instruments at December 31, 2017 and 2018 closely approximated the fair value at December 31, 2017 and 2018, respectively. During the years ended December 31, 2017 and 2018, there were no transfers between Level 1 and Level 2 fair value measurements or transfer to or from Level 3. iii. Financial risk management In the regular course of its business, the Company is exposed to market risks mainly related to the fluctuation of interest rates, exchange rate variation, credit risk on credit sales and liquidity risk. The Company adopts certain instruments to minimize its exposure to such risks, based on monitoring, under the supervision of the Company´s executive officers, which in turn is under the oversight of the Company´s board of directors. The Company has exposure to the following risks arising from financial instruments: • credit risk (see (a)); • liquidity risk (see (b)); and • market risk (see (c)). a. Credit risk Credit risk is the Company´s risk of financial loss if a customer or counterparty to a financial instrument fails to meet its contractual obligations. This risk principally comes from the outstanding receivables due by customers, derivatives and cash and cash equivalents. Trade accounts receivable The Company’s exposure to credit risk is influenced mainly by the individual characteristics of each customer. The Company regularly monitors trade accounts receivable and, for business to customer (B2C) sales, it considers the risk of not collecting from customers as limited because of the intrinsic nature of the payments of credit card operations methods. For Business-to-business No customer had balances representing more than 10% of the Company´s consolidated trade accounts receivable as of December 31, 2017 and 2018. At December 31, 2017 and 2018, the maximum exposure to credit risk for trade accounts receivable by type of counterparty was as follows: Year ended December 31, 2017 2018 2018 BRL BRL USD Credit card operations R$ 87,983 R$ 140,719 US$ 36,316 B2B customers and others 46,056 44,235 11,417 Total trade accounts receivable R$ 134,039 R$ 184,954 US$ 47,733 Allowance for doubtful accounts (20,871 ) (21,147 ) (5,458 ) Trade accounts receivable, net R$ 113,168 R$ 163,807 US$ 42,275 At December 31, 2017 and 2018, respectively, the aging of trade accounts receivable was as follows: As at December 31, 2017 Allowance for Trade accounts Gross amount doubtful accounts receivable, net BRL BRL BRL Not past due R$ 109,135 R$ (8,199 ) R$ 100,936 Past due 1-30 5,449 (2,134 ) 3,315 Past due 31-90 5,304 (3,686 ) 1,618 Past due 91-120 3,551 (1,845 ) 1,706 Past due 120-180 4,278 (3,108 ) 1,170 Past due over 180 days 6,322 (1,899 ) 4,423 Total R$ 134,039 R$ (20,871 ) R$ 113,168 As at December 31, 2018 Allowance for Trade accounts Trade accounts Gross amount doubtful accounts receivable, net receivable, net BRL BRL BRL USD Not past due R$ 163,924 R$ (4,525 ) R$ 159,399 US$ 41,137 Past due 1-30 1,034 (159 ) 875 226 Past due 31-90 2,461 (731 ) 1,730 446 Past due 91-120 1,784 (247 ) 1,537 397 Past due 120-180 2,183 (1,928 ) 255 66 Past due over 180 days 13,568 (13,557 ) 11 3 Total R$ 184,954 R$ (21,147 ) R$ 163,807 US$ 42,275 Other assets, non-current During the third quarter of 2018, the Company terminated a commercial relationship with Midway Labs USA LLC supplier of supplements and vitamins, against which the Company filed a lawsuit The Company has at December 31, 2018 receivables of R$ 27,390 (USD 7,069), R$24,381 as at December 31, 2017, with that former partner. The Company performed an analysis of the recoverability of such amounts. The Company reclassified such amount from Other assets to Other assets, non-current, The Company measured expected credit losses of that financial instrument in a way that reflects: (a) an unbiased and probability-weighted amount that is determined by evaluating a range of possible outcomes; (b) the time value of money; and (c) reasonable and supportable information that is available. b. Liquidity risk Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company’s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company’s reputation. The following are the remaining contractual maturities of financial liabilities as of December 31, 2018. The amounts are gross and undiscounted and include contractual interest payments. Estimated interest payments were calculated based on the interest rate indexes of the Company’s floating interest rate indebtedness, in effect as of December 31, 2017 and 2018. As at December 31, 2017 Carrying amount Contractuall cash flows 1 - 3 3 - 5 More than 5 Within 1 year years years years BRL BRL BRL BRL BRL Financial liabilities: Long-term debt R$ 285,971 R$ 114,356 R$ 175,141 R$ 9,634 R$ 10,558 Trade accounts payable 365,835 369,493 — — — Reverse factoring 148,928 150,625 — — — Taxes and contributions payable 19,875 19,875 — — — Accrued expenses 120,366 120,366 — — — Other current liabilities 31,017 31,017 — — — Provision for labor, civil and tax risks 12,523 — — — 12,523 Other non-current 27 — — — 27 R$ 984,542 R$ 805,732 R$ 175,141 R$ 9,634 R$ 23,108 As at December 31, 2018 Carrying Carrying amount amount Contractual cash flows 1 - 3 3 - 5 More than 5 Within 1 year years years years BRL USD BRL BRL BRL BRL Financial liabilities: Long-term debt R$ 228,879 US$ 59,069 R$ 59,264 R$ 191,630 R$ 7,120 R$ 6,166 Trade accounts payable 337,120 87,003 339,660 0 0 0 Reverse factoring 45,276 11,685 45,629 0 0 0 Accrued expenses 136,721 35,285 136,721 0 0 0 Other current liabilities 25,709 6,635 25,709 0 0 0 Provision for labor, civil and tax risks 19,935 5,145 0 0 0 19,935 R$ 793,640 US$ 204,822 R$ 606,983 R$ 191,630 R$ 7,120 R$ 26,101 The following are the Company’s unrestricted cash and cash equivalents and unused portion of the credit facility at December 31, 2017 and 2018: Year ended December 31, 2017 2018 2018 BRL BRL USD Unrestricted cash and cash equivalents R$ 395,962 R$ 67,321 US$ 17,374 Undrawn credit facility 347 0 0 Available liquidity R$ 396,309 R$ 67,321 US$ 17,374 The Company has experienced net losses and significant cash outflows that resulted in cash used in operating activities for the year ended December 31, 2018. As of and for the year ended December 31, 2018, the Company had accumulated losses of R$ 1,180,856 (compared to R$ 847,125 as of December 31, 2017), net loss of R$ 332,374 (compared to R$170,345 as of December 31, 2017) and net cash used in operating activities of R$ 100,707 (compared to R$43,502 of net cash provided in operating activities as of December 31, 2017). As of December 31, 2018, the Company recorded R$ 23,681 of net current liabilities (compared to R$ 317,228 of net current assets as of December 31, 2017). The Company expects to continue to incur net losses and have cash outflows for at least the next subsequent twelve-months. Although the Company expects to reach positive net operating cash flow for the next subsequent twelve-months, such positive net cash provided by operating activities standing alone may not be sufficient to meet the Company’s net cash used in financing activities needs for the next subsequent twelve-months. Management concluded that financing alternatives will be necessary to meet its obligations within one year from the date the consolidated financial statements were issued. However, there can be no assurance that the Company’s plan to improve its operating performance and financial position will be successful or that the Company will be able to obtain additional financing on commercially reasonable terms, or at all. The financial statements of the Company have been prepared assuming the Company’s ability to continue as an going concern basis, based on the fact that the management of the Company is currently exploring alternatives to obtain access to other sources of capital necessary to meet its ongoing liquidity needs and is taking measures to improve its operating performance and cash, liquidity and financial position. Such measures include, among others, the following: • pursuing the sale and/or closure of its operation in Argentina until the second quarter of 2019, operation which has not performed as expected and has drained a substantial portion of the Company’s operating cash flow overtime; • continuing to implement cost-saving initiatives across the Company; • negotiating alternative payment terms with suppliers; • seeking with current creditors the partial release of collateral provided under certain of the Company’s financing arrangements (basically restricted cash and cash equivalents, which as of December 31, 2018 amounted to R$ 88,760); and • monetization of the Company’s PIS/COFINS judicial deposits, resulting from a favorable decision in judicial disputes challenging tax authorities interpretation of the calculation basis for PIS/COFINS taxes over products sold by the Company (such tax credits amounted to R$ 101,971 as of December 31, 2018). The Company has engaged financial and other advisors to assist it in those efforts. Management acknowledges that material uncertainty remains over the Company’s ability to meet its funding requirements and ability to gain continued access to short-term financing. Management has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. If for any reason the Company is unable to continue as a going concern, then this could have an impact on the Company’s ability to realize assets at their recognized values, and to settle liabilities in the ordinary course of business at the amounts stated in the consolidated financial statements. As such, there exists substantial doubt about Company´s ability to continue as a going concern. c. Market risk Foreign Currency Exchange Risk The Company’s revenue are denominated in the functional currencies of the countries in which its operational subsidiaries are located. Accordingly, its receivables are generally not subject to foreign currency exchange risks. In the ordinary course of business, the Company’s subsidiaries purchase goods from vendors in both local functional currency and foreign currencies (mainly U.S. dollars). The summary of quantitative data about the Company’s exposure to currency risk as reported to management of the Company is as follows: December 31, 2017 USD BRL Trade accounts payable 7,920 26,199 Accrued expenses 879 2,908 Net statement of financial position exposure 8,799 29,107 December 31, 2018 USD BRL Other current assets (2,462 ) (9,540 ) Trade accounts payable 1,410 5,463 Accrued expenses 65 252 Net statement of financial position exposure (987 ) (3,824 ) The following table indicates the changes in the Company’s income or (loss) before tax that would arise if foreign exchange rates to which the Company has exposure at the reporting date had changed by 10% at that date, assuming all other risk variables remained constant. Profit or loss At December 31, 2017 Strenghthening Weakening BRL BRL Net exposure in USD R$ 2,911 (2,911 ) Profit or loss At December 31, 2018 Strenghthening Weakening BRL BRL Exposure in USD R$ (382 ) 382 This sensitivity analysis assumes that the change in foreign exchange rates had been applied to re-measure Interest Rate Risk Interest rates are highly sensitive to many factors, including fiscal and monetary policies and domestic and international economic and political considerations, as well as other factors beyond the Company’s control. Interest rate risk is the exposure to loss resulting from changes in the level of interest rates and the spread between different interest rates. The Company’s debt has floating interest rates. As a result, the Company is exposed to changes in the level of interest rates and to changes in the relationship or spread between interest rates for its floating rate debt. The Company’s floating rate debt requires payments based on variable interest rate indexes such as CDI. Therefore, increases in interest rates may increase the Company’s loss before taxes by increasing its financial expense. If interest rates were to increase or decrease by 50 basis points, the Company´s financial expense on borrowings subject to variable interest rates would increase or decrease by R$1,222 (US$369) for the year ended December 31, 2018. This analysis assumes that all other variables, in particular foreign currency exchange rate, remain constant. To reduce the exposure of variable interest rate (CDI), the Company invests its excess cash and cash equivalents in short-term investments. If interest rates were to increase or decrease by 50 basis points, the Company’s financial income on short-term investments subject to variable interest rates would increase or decrease by R$393 (US$119) for the year ended December 31, 2018. Inflation Risk Brazil and countries in Latin America, in general, have historically experienced high rates of inflation. Inflationary pressures persist, and actions taken in an effort to curb inflation, coupled with public speculation about possible future governmental actions, have in the past contributed to economic uncertainty in Brazil and other Latin American countries and heightened volatility in the Latin American securities market. The inflation rate in Argentina has exceeded projections over the past quarters. As a result, the consumer price index (CPI) currently being used to monitor inflation in Argentina indicate three-year cumulative inflation rates that have increased significantly, also related to the depreciation of the Argentinian Peso. The details of recognition of the effects of inflations in Argentina operations are disclosed in note 3. The Company does not believe that inflation has had a material effect in its business, financial condition or results of operations. The Company continues to monitor the impact of inflation in order to minimize its effects through pricing strategies and productivity improvements.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Income Taxes	20. Income Taxes Accounting policy Income tax comprises current and deferred tax. Current and deferred income tax are recognized in the consolidated statements of profit or loss except for items directly recognized in equity or in OCI. i. Current Income Tax Current income tax comprises the expected tax payable or receivable on the taxable income or loss for the year and any adjustment to the tax payable or receivable in respect of previous years. The amount of current tax payable or receivable is the best estimate of the tax amount expected to be paid or received that reflects uncertainty related to income taxes, if any. It is measured using tax rates enacted or substantively enacted at the reporting date. ii. Deferred Income Tax Deferred income tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred income tax is not recognized for: • temporary differences on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss; • temporary differences related to investments in subsidiaries to the extent that the Company is able to control the timing of the reversal of the temporary differences and it is probable that they will not reverse in the foreseeable future; and • taxable temporary differences arising on the initial recognition of goodwill. Deferred income tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, using tax rates enacted or substantively enacted at the reporting date. Deferred income tax assets and liabilities are offset only if: • the entity has a legally enforceable right to set off current tax assets against current tax liabilities, and • the deferred tax assets and the deferred tax liabilities relate to income taxes levied by the same taxation authority on either: • the same taxable entity, or • different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered. Critical accounting estimates and judgments Deferred income tax assets are recognized for unused tax losses, unused tax credits and deductible temporary differences to the extent that it is probable that future taxable profits will be available against which they can be used. Deferred income tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized; such reductions are reversed when the probability of future taxable profits improves. i. Income tax expenses reconciliation A reconciliation of income tax expense at the weighted average tax rate to the Company´s and its subsidiaries actual income tax expense in 2016, 2017 and 2018, is shown below: Year ended December 31, 2016 2017 2018 2018 BRL Restated BRL Restated BRL USD Loss before income tax R$ (133,157 ) R$ (154,222 ) R$ (321,593 ) US$ (82,996 ) Tax rate (1) 45.37 % 39.66 % 34.08 % 34.08 % 60,418 61,169 109,594 28,284 Increase (decrease) resulting from: Non-deductible (20,001 ) (24,789 ) (21,294 ) (5,496 ) Unrecognized deferred tax benefits (32,820 ) (26,384 ) (74,275 ) (19,169 ) Other (7,597 ) (9,996 ) (14,227 ) (3,671 ) — — (202 ) (52 ) Effective tax rate 0.00 % 0.00 % 0.06 % 0.06 % Income tax expense R$ — R$ — R$ (202 ) US$ (52 ) (1) Weighted average tax rate of the Company and its subsidiaries. ii. Unrecognized deferred income tax assets The Company and its subsidiaries have experienced tax losses since inception and therefore they have not recognized deferred income tax assets in respect of the following items to the extent there is no taxable temporary difference that will reverse in the same period that deductible temporary differences reverse. Deferred income tax assets may be recognized when the Company starts to experience future sustainable taxable income and it is probable that these tax benefits will be realized. Year ended December 31, 2017 2018 2018 BRL BRL USD Deductible temporary differences R$ 52,139 R$ 73,407 US$ 18,945 Income tax loss carry forward 195,538 211,171 54,498 Total unrecognized deferred income tax assets R$ 247,677 R$ 284,578 US$ 73,443 Tax losses carried forward for Argentina expire as follows: December, 31 2018 2018 Expiry date BRL USD 2019 R$ 2,037 US$ 526 2020 2,498 645 2021 2,982 770 2022 4,283 1,105 2023 5,964 1,539 R$ 17,763 US$ 4,584 Brazilian unrecognized income tax carryforward losses amounting to R$ 142,218 and R$193,408 (US$49,914) at December 31, 2017 and 2018 does not expire, however they can only offset up to 30 percent of a taxpayer’s taxable income in any given year.

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2018
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Shareholders' Equity	21. Shareholders’ Equity i. Common Shares At December 31, 2017 and 2018, the Company had 31,557,785 of common shares, respectively, with a par value of US$0.0033 issued and outstanding, respectively. All common shares rank equally with regard to the Company’s residual assets. Holders of these shares are entitled to dividends and to one vote per share at general meetings of the Company. The Company has not declared a dividend for the years ended December 31, 2016, 2017, and 2018. ii. Treasury Shares All rights attached to the Company’s common shares held by the Company (i.e. treasury shares) are suspended until those shares are reissued. During 2016, the Company’s board of directors approved the repurchase of 7,320 of its own common shares. A summary of treasury shares activities during the years ended December 31, 2016, 2017 and 2018 is set forth in the following table: N o Share Capital BRL USD Balance at January 1, 2016 15,331 R$ 925 Repurchased 7,320 608 Balance at December 31, 2016 22,651 R$ 1,533 Repurchased — — Balance at December 31, 2017 22,651 1,533 US$ 396 Repurchased 0 0 0 Balance at December 31, 2018 22,651 R$ 1,533 US$ 396

Share-based Payments

Share-based Payments	12 Months Ended
	Dec. 31, 2018
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Share-based Payments	22. Share-based Payments Accounting policy The Company may grant share-based payments to employees, directors, other service providers or independent contractors. These awards are accounted for as follows: Equity-settled arrangement The grant-date fair value of equity-settled share-based payment arrangements granted to employees is recognized as an expense, with a corresponding increase in equity, over the vesting period of the awards. The amount recognized as an expense is adjusted to reflect the number of awards for which the related service and non-market non-market The Company did not modify any awards during the years ended December 31, 2016, 2017 and 2018. Critical accounting estimates and judgments The fair value of shares options is determined based on the number of shares granted and the quoted price of our common stock, and the fair value of stock options is estimated on the date of grant using the Black-Scholes model. The Company considers many factors when estimating expected forfeitures, including employee level, economic conditions, time remaining to vest, and historical forfeiture experience. The number of share options has been disclosed giving effect to the stock split of 1.0 for 3.0 occurred immediately prior to the completion of Initial Public Offering on April 18, 2017 (see note 1.2). Under the Share Plan (the “Plan”) established by the Company, its Board of Directors (the “Board”) may grant up to 1,296,470 share options to key employees, directors and independent contractors. On August 7, 2018, the Board approved the increase of the size of the Company’s share option pool from 956,470 to 1,296,470 of its common shares. The options under the Plan were granted at the discretion of the Board; as such, the Board has full authority to establish terms and conditions of any award consistent with the provisions of the Plan and to waive any such terms and conditions at any time. The Plan was set up for the following purposes: (i) attracting, retaining and motivating its beneficiaries; (ii) adding value to quote-holders; and (iii) encouraging the view of entrepreneurs of the business. i . Arrangements previously classified as cash-settled Each share option granted under the Plan contains a vesting period, during which the participant cannot exercise the option, and are generally subject to the following vesting schedule: over a four-year period, 25% of the total common shares subject to the award will vest at the first anniversary of the vesting commencement date and the remaining common shares subject to the award will vest in equal monthly installments over the 36 months of continuous service thereafter. The Company held a right of first refusal to repurchase the shares exercised according to the Plan. The Company only had this right of first refusal until it has become public and, after that date, holders of the common shares can trade them in the market. In addition, the Company had a non-contractual non-contractual Due to the characteristics of the transaction, these awards had been regarded as a cash-settled plan and the liability was re-measured Following the completion of Initial Public Offering, the condition of the right of first refusal by the Company of repurchasing the shares exercised is no longer applicable, as prescribed in the Plan. Therefore, upon completion of Initial Public Offering, the Company reclassified the share-based plan from cash-settled to equity-settled, and the impact was a reduction in non-current As the Company will provide holders of vested awards with a bonus equivalent to the exercise price of the options if they decide to exercise the options, the fair value of the awards was estimated based on the fair value of the Company´s shares. As mentioned above, for the 2018 granted options the Company extinguished this practice. A summary of option activities under the Plan and changes during the years ended December 31, 2016, 2017 and 2018 is set forth in the following table: Cash-settled arrangements Number of Weighted Weighted Average USD Oustanding at January 1, 2016 273,147 19.28 1.1 year Granted 110,250 8.10 Exercised (20,022 ) 8.10 Forfeited, cancelled and expired (16,608 ) 8.10 Oustanding at December 31, 2016 346,767 US$ 16.91 1.3 year Granted — — Exercised — — Forfeited, cancelled and expired (73,710 ) 43.31 Transfer from cash-settled (273,057 ) (9.59 ) arragements on April 12nd Oustanding at December 31, 2017 — US$ — 0 year ii. Equity-settled arrangements During the years ended December 31, 2017 and 2018, the Company granted 127,500 and 828,000 share options, respectively, under the Plan with a non-market The Company only had a right of first refusal under the Plan until April 18, 2017 (IPO date), after that date, holders of the common shares can trade them in the market. Therefore, this arrangement has been reclassified to equity-settled. As the Company provided holders of vested awards with a bonus equivalent to the exercise price of the options, the fair value of the awards was estimated based on the fair value of the Company´s shares. A summary of option activities under the Plan and changes during the years ended December 31, 2016, 2017 and 2018 is set forth in the following table: Equity-settled arrangements Number of Weighted Average Weighted Average USD Oustanding at January 1, 2016 — — Granted 23,250 8.10 Exercised — — Forfeited, cancelled and expired — — Oustanding at December 31, 2016 23,250 US$ 8.10 0.8 year Granted 127,500 8.10 Exercised (30,308 ) 8.10 Forfeited, cancelled and expired (23,879 ) 8.10 Transfer from cash-settled arragements on April 12nd 273,057 9.59 Oustanding at December 31, 2017 369,620 US$ 9.20 0.7 year Granted 828,000 4.37 Exercised 0 0 Forfeited, cancelled and expired (239,436 ) 9.91 Oustanding at December 31, 2018 958,184 US$ 4.85 2.26 years Vested at December 31, 2017 381,282 Vested at December 31, 2018 296,351 As of December 31, 2017 and 2018, the Company had remaining unrecognized compensation cost of R$6,707 and R$2,083 (US$537), respectively, which is expected to be recognized over a weighted average period of 2.26 year. The Company recognized compensation expense (income) for both cash and equity-settled arrangements of R$ 930, R$(13,860) and R$7,923 (US$2,045) for years ended December 31, 2016, 2017 and 2018, respectively. Upon completion of the initial public offering in April 2017, when the Company reclassified the share-based plan from cash-settled to equity-settled, the fair value per common share underlying the Company share options was re-measured The weighted average fair value of granted options were estimated at US$18.00 and US$5.91 per share at December 31, 2017 and 2018, respectively.

Related party transactions

Related party transactions	12 Months Ended
	Dec. 31, 2018
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Related party transactions	23. Related party transactions The consolidated subsidiaries of the Company as of December 31, 2017 and 2018 are listed in note 2.3. The Company has the following related party transactions: Year ended December 31, 2017 2018 2018 BRL BRL USD Balances from non-controlling Receivables R$ 12 R$ 7 US$ 2 Year ended December 31, 2016 2017 2018 USD Total Income statement amounts BRL BRL BRL USD Key management personnel compensation Compensation and short-term benefits 9.535 19.699 12.882 3.325 Share-based payments 677 4.652 1.510 390 Total R$ 10.212 R$ 24.351 R$ 14.392 US$ 3.715 Financial expenses Convertible notes interest R$ — R$ 2.069 R$ 0 US$ 0

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2018
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Contingencies	24. Contingencies Accounting policy Provisions for tax, civil and labor risks are recorded when the Company has a present obligation (legal or constructive) as a result of a past event, the amount of the obligation can be reliably estimated, and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation. The Company is part of various lawsuits and administrative proceedings. The assessment of the likelihood of an unfavorable outcome in these lawsuits and proceedings includes the analysis of the evidence available, the hierarchy of the laws, available jurisprudence, as well as, the most recent court decisions and their importance to the relevant legal system and the opinion of external legal counsel. Provisions are reviewed and adjusted to reflect changes in circumstances, such as applicable statute of limitations, conclusions of tax audits or additional exposures identified based on new matters or court decisions. Where it is not probable that an outflow of economic benefits will be required, or the amount cannot be estimated reliably, the obligation is disclosed as a contingent liability, unless the probability of outflow of economic benefits is remote. Possible obligations, whose existence will only be confirmed by the occurrence or non-occurrence Judicial deposits are court-ordered deposits that serve as collateral until the final settlement of the disputes to which they are related. These deposits accrue interest based on the applicable country’s risk-free interest rate and are reported in non-current Critical accounting estimates and judgments By nature, litigations will be resolved when one or more future event occurs or fails to occur. Typically, the occurrence or not of such events is outside of the Company’s control. Legal uncertainties involve the application of significant estimates and judgments by management regarding the potential out comes of future events. i. Provision for litigation The Company is a party to legal proceedings and claims which arise during the ordinary course of business. It reviews its legal proceedings and claims, conducts regulatory reviews and inspections, and reviews other legal matters on an ongoing basis and follows appropriate accounting guidance when making accrual and disclosure decisions. The Company establishes provisions for those contingencies when the incurrence of a loss is probable and can be reasonably estimated, and the Company discloses the amount provided for and the amount of a reasonably possible loss in excess of the amount provided for, if such disclosure is necessary for its financial statements not to be misleading. The Company does not record a provision when the likelihood of loss being incurred is probable, but the amount cannot be reasonably estimated, or when the loss is believed to be only reasonably possible or remote. The Company´s assessment of whether a loss is reasonably possible, or probable is based on its assessment and consultation with legal counsel regarding the ultimate outcome of the matter following all appeals. Breakdown of and changes in provisions whose unfavorable outcome is probable are as follows: Labor Civil Tax Total BRL BRL BRL BRL As of December 31, 2016 R$ 492 R$ 1,230 R$ 3,455 R$ 5,177 Additions, net of reversals 383 3,039 7,222 10,644 Payments (52 ) (3,246 ) — (3,298 ) As of December 31, 2017 R$ 823 R$ 1,023 R$ 10,677 R$ 12,523 Labor Civil Tax Total Total BRL BRL BRL BRL USD As of December 31, 2017 R$ 823 R$ 1,023 R$ 10,677 R$ 12,523 U$ 3,232 Additions, net of reversals (135 ) 5,550 6,114 11,529 2,975 Payments (190 ) (3,927 ) 0 (4,117 ) (1,062 ) As of December 31, 2018 R$ 498 R$ 2,646 R$ 16,791 R$ 19,935 U$ 5,145 Labor claims presented above are related to different matters, such as overtime and salary equalization. Labor lawsuits are not individually significant. Civil claims are related to the Company´s ordinary course of operations, and generally relate to consumer claims. None of these lawsuits have significant amounts under dispute. The Company has a tax claim related to challenging Brazilian tax authorities’ interpretation that retailers of imported goods are subject to paying additional sales taxes on manufactured products (“IPI”) and PIS and COFINS on financial income. ii. Contingent liabilities In September 2017, the Company received a tax assessment amounting to R$89,013 from the Brazilian tax authorities, asserting that the Company had unduly considered PIS and COFINS tax credits related to marketing and information technology services, effectively reducing the PIS and COFINS payable calculation basis. The Company´s assessment, supported by external lawyers, is that the risk of loss of this case is possible and therefore no provision has been recognized in relation to this claim. In December 2018, the Company received a tax assessment amounting to R$51,853 from the Brazilian tax authorities, asserting that the Company had unduly considered ICMS tax credits related to sales returns, effectively reducing the ICMS payable calculation basis. The Company´s assessment, supported by external lawyers, is that the risk of loss of this case is possible and therefore no provision has been recognized in relation to this claim. iii. Judicial deposits In some situations, in connection with a legal requirement or presentation of guarantees, judicial deposits are made to secure the continuance of the claims under discussion. These judicial deposits may be required for claims whose likelihood of loss was analyzed by the Company, grounded on the opinion of its legal advisors as a probable, possible or remote loss. Until the case is settled, the judicial deposits amounts accrue interest at Brazil’s official short-term interest rate (SELIC). Year ended December 31, 2017 2018 2018 BRL BRL USD VAT taxes Brazil (PIS and COFINS) 1 R$ 94,909 R$ 101,971 US$ 26,316 PIS and COFINS on financial income 1 2,558 3,319 857 Tax on manufactured products (IPI) 2 7,489 12,576 3,246 Other 1,958 1,851 477 Total judicial deposits 106,914 119,717 30,896 (1) Contribution tax on gross revenue for social integration program (PIS) and social security financing (COFINS): The Company is involved in disputes related to: i) Exclusion of VAT tax (ICMS) from PIS and COFINS calculation basis, which started in November 2014. On March 15, 2017, the Brazilian Federal Supreme Court decided for the unconstitutionality of considering the inclusion of the VAT tax (ICMS) from PIS and COFINS calculations basis. Based on this decision, the Company’s lawyers assessed the likelihood of losing this legal dispute as remote as of December 31, 2017 and 2018. Since August 2017, the Brazilian tax authority has ceased the obligation to make the judicial deposit. The Company is currently waiting the court to define which procedures are necessary to refund the judicial deposit. ii) A constitutional challenge on the imposition of PIS and COFINS on financial income. (2) Tax on manufactured products (IPI) The Company is involved in disputes related to the levy of taxes on manufactured products (IPI) over products it sells and obtained a preliminary injunction allowing it not to pay IPI on imports and sales of goods since it is a trading company. iv. Class action As disclosed by the Company on August 9, 2018 two purported shareholder class actions under U.S. Securities Act of 1933 were filed before the Supreme Court of the State of New York, claiming that the Company, among other defendants, made alleged material misstatements or omissions in the registration statement and prospectus issued in connection with Company’s April 2017 initial public offering. The Company is reviewing the complaints and intend to vigorously defend against these and any other related lawsuits. As the dispute is still in its findings and class certification stages and considering that the outcome of the dispute is subject to considerable uncertainty, it is not possible, at this stage, for the Company to reasonably estimate the potential loss or range of loss, if any, that may result from the final resolution of these legal proceedings. Therefore, no provision is recognized in the financial statements. An unfavorable outcome of the class action may have a material impact on the Company.

Impairment of long-lived assets

Impairment of long-lived assets	12 Months Ended
	Dec. 31, 2018
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Impairment of long-lived assets	25. Impairment of long-lived assets Accounting policy and Critical accounting estimates and judgments At each reporting date, the Company reviews the carrying amounts of its non-financial For impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or CGUs. The recoverable amount of an asset or CGU is the greater of its value in use and its fair value less costs to sell. The value in use calculation is based on a DCF model. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax An impairment loss is recognized when the carrying amount of an asset or the CGU exceeds its recoverable amount. An impairment loss recognized in a prior period is reversed if, and only if, there is an indication that there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized. As at December 31, 2018, the market capitalization of the Company was below the book value of its own equity, indicating a potential impairment of the assets. The Company has defined as a cash-generating unit each country where it operates. For impairment test purpose, the intangible assets located in Cayman, where it has no operations and its assets are used by its subsidiaries, were allocated to Brazil CGU. Key assumptions used in value in use calculations and sensitivity to changes in assumptions The calculation of value in use CGU’s is most sensitive to the following assumptions: • Compound annual growth rate (CAGR) • Working capital over Net Revenue • Discount rate • Royalty CGU Project period CAGR Working Discount Brazil 5 years 12.20 % 13.20 % 14.5 % CGU Project CAGR Royalty Discount Shoestock Perpetual 11.30 % 6.8 % 14.5 % Given the degree of uncertainty of these assumptions, the Company performs a sensitivity analysis thereof using reasonable changes in the key assumptions on which the recoverable amount of the cash-generating units is based in order to confirm whether their recoverable amount still exceeds their carrying amount. The sensitivity analysis involved adjusting the discount rate by +/- 50 basis points. There were no impairment losses for the years ended December 31, 2016, 2017 or 2018. ***********

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
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Statement of Compliance	2.1. Statement of Compliance The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRSs”) as issued by the International Accounting Standards Board. The consolidated financial statements were authorized for issuance by the Board of Directors on April 29, 2019.
Basis of Presentation	2.2. Basis of Presentation The consolidated financial statements have been prepared under the historical-cost basis, unless otherwise indicated. The presentation of the consolidated financial statements in conformity with IFRS requires the use of certain accounting estimates, and also requires the Company´s Management to exercise its judgment in the process of applying the Company’s accounting policies. Note 2.5 to these consolidated financial statements shows the areas in which a greater level of judgment and estimates have been applied. Intercompany balances and transactions, including income and expenses and any unrealized income and expenses and the balance of receivables and payables arising from intercompany transactions, are eliminated. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is no evidence of impairment. The functional currency of the Company is US$ and the reporting currency is Brazilian Real (“R$”) as this currency better reflects the underlying operations of the consolidated entities. The Company’s subsidiaries with operations in Brazil and Argentina use their respective currencies as their functional currencies. Due to the significant inflation in Argentina over the past few years, the three-year cumulative inflation rate in Argentina has exceeded 100% based on data from the national wholesale price index and various available inflation indices in May 2018. As such, Argentina was considered as hyperinflationary economy effective July 1, 2018 and, in these annual financial statements, beginning January 1, 2018 the Company is required to apply inflation accounting. Thus, its statement of financial position and statement of profit or loss are adjusted for the changes in the general purchasing power of the local currency, using official indices at the reporting date, before translation into Brazilian Real (“R$”) and, as a result, are stated in terms of the measuring unit current at the reporting date. The details of recognition of the effects of inflation in Argentina operations are disclosed in note 3. The comparative information for the years ended December 31, 2016 and 2017 were restated for the purposes of applying IFRS 5 “Non-current Translations of balances in the consolidated statement of financial positions, consolidated statement of profit or loss, consolidated statement of comprehensive income (loss) and consolidated statement of cash flows from R$ into US$ are solely for the convenience of the readers and have been calculated at the rate of US$1.00 = R$ 3.8748, representing the exchange rate set forth by the Banco Central do Brasil (Central Bank of Brazil) on December 31, 2018. No representation is made that the R$ amounts could have been, or could be, converted, realized or settled into US$ at that rate on December 31, 2018, or at any other rate. All values have been rounded to the nearest thousands of R$ and US$, except where noted.
Principles of Consolidation	2.3. Principles of Consolidation The consolidated financial statements include the accounts of all entities in which NSC has a controlling financial interest. i. Consolidated subsidiaries Consolidated subsidiaries are entities controlled by the Parent. The Parent controls an entity when it is exposed, or has the right to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of consolidated subsidiaries are included in the consolidated financial statements from the date on which control commences until the date on which control ceases. The consolidated subsidiaries are listed as follows: Percentage Ownership and Company Country of Incorporation December 31, December 31, Netshoes Holding, LLC United States of America 100.00 % 100.00 % NS2 Com Internet S.A. Brazil 100.00 % 100.00 % NS3 Internet S.A. Argentina 98.17 % 98.22 % NS4 Com Internet S.A. Mexico 100.00 % 0.00 % NS4 Servicios de México S.A. C.V. Mexico 100.00 % 0.00 % NS5 Participações Ltda. Brazil 99.99 % 99.99 % NS6 Serviços Esportivos Ltda. Brazil 100.00 % 100.00 % ii. Non-controlling Non-controlling non-controlling non-controlling non-controlling non-controlling non-controlling non-controlling non-controlling Changes in the Parent’s interest in subsidiaries that do not result in a loss of control are accounted for as equity transactions.
Foreign Currency Translation and Transactions	2.4. Foreign Currency Translation and Transactions i. Foreign Currency Translation The financial statements of foreign entities that use a functional currency different from the reporting currency are translated into Brazilian Real as described below: • Assets and liabilities are translated into Brazilian Real at the closing rate, corresponding to the spot exchange rate at the reporting date; and • Income statement and cash flow items are translated into Brazilian Real using the average rate of the period unless significant variances occur. The resulting exchange differences are recognized directly in other comprehensive income (loss). When a foreign operation is disposed of, the cumulative amount of the exchange differences in consolidated equity relating to that operation is recorded to the consolidated statements of profit or loss. ii. Foreign Currency Operations Foreign currency transactions are converted into the functional currency using the exchange rate at the transaction date. Monetary assets and liabilities denominated in foreign currencies are re-measured Non-monetary re-measured
Use of Judgments, Estimates and Assumptions	2.5. Use of Judgments, Estimates and Assumptions In preparing these consolidated financial statements in conformity with IFRS, management has made judgments, estimates and assumptions that affect the application of the Company’s accounting policies and the reported amount of assets, liabilities, income and expenses. Actual results may differ from those estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognized prospectively. Information about judgments, assumptions and estimates made in applying accounting policies that have the most significant effects on the amounts recognized in the consolidated financial statements are included in the following notes: • Note 3 – Hyperinflation: Determining inflation rate; • Note 6 – Revenue: Estimating the sales returns; • Note 10 – Trade Accounts Receivable: Estimated losses on doubtful accounts; • Note 11 – Inventories: Provision for inventory losses; • Note 13, 14 and 25 – Property and Equipment and Intangible Assets: Useful lives of property and equipment and intangible, software development costs related to intangible assets and impairment of long-lived assets; • Note 19 – Credit risk of Other non-current • Note 20 – Income Taxes: Recognition of deferred income tax assets and availability of future taxable profit against which tax losses carried forward can be used. The determination of tax positions that are probable of being sustained also involves significant judgment; • Note 22 – Share-based payments: Valuation and classification of awards; and • Note 24 – Contingencies: Key assumptions about the likelihood and magnitude of an outflow of resources.
Changes in accounting policies	2.6. Changes in accounting policies The Company applied as of January 1, 2018, IFRS 15 (Revenue from Contracts with Customers) and IFRS 9 (Financial Instruments). The nature and effect of these changes are described below. i. IFRS 15 Revenue from Contracts with Customers IFRS 15 establishes a comprehensive framework for determining whether, how much and when revenue is recognized. It replaces existing revenue recognition guidance, including IAS 11 Construction Contracts, IAS 18 Revenue, IFRIC 13 Customer Loyalty Programmes, IFRIC 15 Agreements for the Construction of Real Estate, IFRIC 18 Transfers of Assets from Customers, and SIC-31 The standard requires entities to exercise judgment, taking into consideration all the relevant facts and circumstances when applying each step of the model to contracts with their customers. The standard also specifies the accounting for the incremental costs of obtaining a contract and the costs directly related to fulfilling a contract. The Company adopted IFRS 15 using the cumulative effect method of adoption. Accordingly, the effect of adoption has been recorded as an adjustment to equity. The details of new significant accounting policies and the nature and effect of the changes to previous accounting policies are set out below. a. Revenue from product sales The Company’s contracts with customers for products sales generally includes a performance obligation. The Company has concluded that revenue from products sales should be recognized at the point in time when control of the asset is transferred to the customer, generally on delivery of the goods. Therefore, the adoption of IFRS 15 did not have any impact on the timing of revenue recognition, as sales were already recognized upon delivery of the goods to customers. However, the amount of revenue to be recognized was affected by the variable consideration, as stated below. Variable consideration Some contracts for product sales provide customers with a right of return. Prior to the adoption of IFRS 15, the Company recognized revenue from the sale of goods measured at the fair value of the consideration received or receivable, net of returns. If revenue could not be reliably measured, the Company deferred revenue recognition until the uncertainty was resolved. Under IFRS 15, rights of return give rise to variable consideration. The variable consideration is estimated at contract inception and constrained until the associated uncertainty is subsequently resolved. The application of the constraint on variable consideration increases the amount of revenue that will be deferred. Rights of return For contracts that permit the customer to return an item, under IFRS 15 revenue is recognized to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur. Therefore, the amount of revenue recognized is adjusted for expected returns, which are estimated based on historical data. The effect of adoption in January 1, 2018 resulted in the recognition of right of return assets (increase in inventories) of R$1,592 and refund liabilities (increase in other liabilities) of R$2,745. The net effect of R$1,153 was recorded in Accumulated losses. The effect of adoption on Revenues for the year ended December 31, 2018 is a decrease of R$1,058 (USD 273). b. Freight-related services The Company’s contracts with customers for freight-related services is recognized once the service is rendered. The shipping fees are linked to the revenue from products sales. Therefore, the adoption of IFRS 15 did not have any impact on the timing of revenue recognition, as services were already recognized upon delivery of the goods to customers. However, the amount of revenue to be recognized was affected by the variable consideration, as stated in topic (a). c. Marketplace platform The Company’s contracts with customers for Marketplace platform generates revenue in the form of a commission, when the third-party vendors sell the products on the Company’s platform. The Company recognizes revenue from the marketplace platform on a net basis because the Company acts as an agent and does not have primary responsibility for fulfilling the orders, bear inventory risk or have discretion in establishing prices. Therefore, the adoption of IFRS 15 did not have any impact in the Company’s accounting policies, once the Company already recognized these revenues as an agent. d. NCard The Company generates commission revenue from the customers’ activation of NCards (a co-branded e. Presentation and disclosure requirements As required for the consolidated financial statements, the Company disaggregated revenue recognized from contracts with customers into categories that depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The Company also disclosed information about the relationship between the disclosure of disaggregated revenue and revenue information disclosed for each reportable segment. Refer to notes 4 and 6 for the disclosure on disaggregated revenue. ii. IFRS 9 Financial Instruments IFRS 9 sets out requirements for recognizing and measuring financial assets, financial liabilities and some contracts to buy or sell non-financial The Company has applied IFRS 9 with the initial adoption date of January 1, 2018 and has taken an exemption not to restate comparative information for prior periods with respect to classification and measurement (including impairment) requirements. Differences in the carrying amounts of financial assets and financial liabilities resulting from the adoption of IFRS 9 were recognized in Accumulated losses as at January 1, 2018. Accordingly, the information presented for 2017 does not generally reflect the requirements of IFRS 9 but rather those of IAS 39. The details of new significant accounting policies and the nature and effect of the changes to previous accounting policies are set out below. a. Classification and measurement of financial assets and liabilities IFRS 9 contains a new classification and measurement approach for financial assets that reflects the business model in which assets are managed and their cash flow characteristics. IFRS 9 contains three principal classification categories for financial assets: measured at amortized cost, fair value through other comprehensive income (FVOCI) and fair value through profit or loss (FVTPL). The standard eliminates the existing IAS 39 categories of held to maturity, loans and receivables and available for sale. IFRS 9 largely retains the existing requirements in IAS 39 for the classification of financial liabilities. Therefore, the adoption of IFRS 9 has not had a significant effect on the Company’s accounting policies related to classification and measurement of financial liabilities. The following table compares the measurement and classification under IAS 39 and IFRS 9 for each class of financial assets. Financial instrument Classification under IAS 39 Classification under IFRS 9 Cash and cash equivalents Loans and receivables Amortized cost Restricted cash, current and non-current Loans and receivables Amortized cost Trade accounts receivables Loans and receivables Amortized cost Due from related parties Loans and receivables Amortized cost Judicial deposits Loans and receivables Amortized cost Other assets, current and non-current Loans and receivables Amortized cost The effect of adopting IFRS 9 on the carrying amounts of financial assets at January 1, 2018 relates solely to the new impairment requirements. b. Impairment IFRS 9 replaces the “incurred loss” model in IAS 39 with a forward-looking “expected credit loss” (ECL) model. This new model requires the Company to record expected credit losses on trade accounts receivables on lifetime basis. The Company has assessed the application of IFRS 9 impairment model requirements and its assessment did not have a material impact on its opening balance at January 1, 2018 (except for trade receivables, described below). Trade accounts receivables The estimated ECLs were calculated based on actual credit loss experience over the past two years, with ECL rates calculated separately for B2C (business to consumer) and B2B (business to business) trade accounts receivable. The Company already considered the exposure to credit risk over the impairment recognized under IAS 39. Factors considered were: • Significant financial difficulty of the customer; • Payment default; • Exposure to expected losses; • High probability of customer bankruptcy; • Breach of contract, such as default or delinquency in interest or principal; and • Adverse change in a factor (for example, unemployment rates, external credit ratings). Exposures within each group are based on credit risk characteristics and aging status. The application of IFRS 9’s impairment requirements at January 1, 2018 resulted in an additional allowance for doubtful accounts as follows. As at January 1, 2018 Allowance for Restated Not past due R$ (8,199 ) R$ (11,222 ) Past due 1-30 (2,134 ) (2,134 ) Past due 31-90 (3,686 ) (3,686 ) Past due 91-120 (1,845 ) (1,845 ) Past due 120-180 (3,108 ) (3,108 ) Past due over 180 days (1,899 ) (1,899 ) Total R$ (20,871 ) R$ (23,894 ) Note 10 includes a table to summarize the effect of adoption of IFRS 9 on new allowance for doubtful accounts. c. Hedge accounting The Company´s assessment did not indicate any impact of the application of IFRS 9 for hedge accounting, because no hedge transactions existed as of December 31, 2017 and no hedge transactions were entered into in the year ended December 31, 2018.
New Accounting Pronouncements	2.7. New Accounting Pronouncements not yet effective i. IFRS 16 Leases IFRS 16, Leases replaces IAS 17, Leases and related interpretations. The core principle is that a lessee recognizes assets and liabilities for all leases with a lease term of more than 12 months. A lessee is required to recognize a right-of-use non-cancellable The actual impacts of adopting the standard on January 1, 2019 may change because: • the Company has not finalized the testing and assessment over its controls; and • the new accounting policies are subject to change until the Company presents its first consolidated financial statements that include the date of initial application. The Company will recognize new assets and liabilities for its operating leases of distribution centers and administrative headquarters. The nature of expenses related to those leases will change because the Company will recognize a depreciation charge for right-of-use Previously, the Company recognized operating lease expense on a straight-line basis over the term of the lease, and recognized assets and liabilities only to the extent that there was a timing difference between actual lease payments and the expense recognized. In addition, the Company will no longer recognize provisions for operating leases that it assesses to be onerous. Instead, the Company will include the payments due under the lease in its lease liability. No significant impact is expected for the Company’s finance leases. The Company decides to adopt the modified retrospective application as of January 01, 2019, with the following expedients: • apply the new definition of a lease to all of their contracts; • exemptions for short term leases and/or with low values; • no restatement of its prior-period financial information; • calculate lease assets and lease liabilities as at the beginning of the current period using: • the lease liability at the date of initial application as the present value of the remaining lease payments; • the right of use assets at an amount equal to the lease liability; and • apply a single discount rate to the portfolio of leases with similar characteristics using market rates which reasonable approximates the Company risks. Based on the information currently available, the Company estimates that it will recognize amounts between: January 1st, 2019 BRL Increase/(Decrease) Right of use - non-current R$ 80,000 - 90,000 Recoverable taxes - current and non-current 10,000 - 12,000 Lease liability - current liabilities 15,000 - 20,000 Lease liability - non-current 75,000 - 82,000 The Company has operating leases on a number of buildings where its distribution centers and administrative headquarters are located with third parties in arm’s length conditions. The agreements mature on different date and are usually indexed to the General Market Price Index (IGP-M). non-cancellable BRL USD Up to one year R$ 28,163 US$ 7,268 One to five years 72,225 18,640 More than five years 32,031 8,267 Total R$ 132,419 US$ 34,175 During the years ended December 31, 2016, 2017 and 2018, the Company recorded total operating lease expenses of R$26,813, R$27,463 and R$28,105 (US$7,253), respectively. ii. IFRIC 23 - Uncertainty over Income Tax Treatments IFRIC 23 clarifies how to apply the recognition and measurement requirements in IAS 12 when there is uncertainty over income tax treatments. In such a circumstance, the Company shall recognize and measure its current or deferred tax asset or liability applying the requirements in IAS 12 based on taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates determined applying this interpretation. The interpretation is effective from January 1, 2019. The Company is evaluating the possible effects from the adoption of the interpretation, and until the present moment no relevant impact has been identified. iii. Other Clarifications, amendments and interpretations Several other amendments and interpretations apply for the first time in 2018 and 2019, but do not have a significant impact on the consolidated financial statements of the Company.
Segment Information	Accounting policy An operating segment is a component of the Company that : a) engages in business activities from which it may earn revenues and incur expenditures, including revenues and expenses that relate to transactions with any of the Company’s other components, and b) whose operating results are regularly reviewed by the Company’s chief operating decision maker (“CODM”) to make decisions as to allocation of resources to the relevant segment and assess its performance and for which individual financial information is available. The Company uses the “management approach” to determine its reportable segments. The management approach identifies operating segments based on how the entity is organized and based on how financial information is presented to the chief operating decision maker (“CODM”). The Company concluded that the CODM is the Chief Executive Officer. The Company is organized around geographical divisions and discloses the following reportable segments: • Brazil: consists of retail sales of consumer products from all of our verticals (which includes sales of sporting goods and related garments as well as fashion and more recently, beauty goods) carried out through our sites Netshoes.com.br, Zattini.com.br, Shoestock.com.br, Freelace.com.br and third-party sites that we manage as well as our business to business offline operation. • Argentina: consists of retail sales of consumer products from sporting goods and related garments carried out through our site Netshoes.com.ar and third-party sites that we manage. Corporate functions and activities (primarily operating expenses, financial income and financial expenses recorded in Netshoes (Cayman) Limited and Netshoes Holding, LLC) are not allocated directly to the reportable segments and are disclosed below to reconcile the segments to the consolidated financial information.
Earnings (Loss) Per Share ("EPS")	Accounting policy Basic EPS is computed by dividing net income (loss) attributable to the owners of the Parent by the weighted average number of common shares outstanding for the periods presented. Diluted EPS reflects the potential dilution of share options that could be exercised or converted into common shares and is computed by dividing net income (loss) attributable to the owners of the Parent by the weighted average number of common share outstanding plus the potentially dilutive effect of share options. When the Company reports net loss attributable to the owners of the Parent, the diluted losses per common share are equal to the basic losses per common share due to the anti-dilutive effect of the outstanding share options.
Revenue	Accounting policy Revenue is measured based on the consideration to which the Company expects to be entitled in a contract with a customer and excludes amounts collected on behalf of third parties. The Company recognizes revenue when it transfers control of a product or service to a customer. i. Revenue from Product Sales Revenue from product sales arises from (i) online purchases on the Company’s sites (i.e. Netshoes, Zattini, Shoestock and Freelace) and third-party sites that the Company manages and (ii) offline purchases with the Company. Revenue is recognized when the goods are delivered and have been accepted by customers at their premises. For contracts that permit the customer to return an item, revenue is recognized to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur. Therefore, the amount of revenue recognized is adjusted for expected returns, which are estimated based on the historical data. In these circumstances, a refund liability and a right to recover returned goods asset are recognized. The Company recognizes revenue from product sales on a gross basis since the Company acts as principal and as such, it has primary responsibility for fulfilling the orders, it bears inventory risk, and it has discretion in establishing prices and bears the customer’s credit risk. ii. Other Revenues Other revenues mainly consist of the following: • Freight-related services: Revenue from the freight-related services is recognized once the service is rendered; • Marketplace platform: The Company generates revenue from the marketplace platform in the form of a commission, when the third-party vendors sell the products on Company’s platform. The Company recognizes revenue from the marketplace platform on a net basis because the Company acts as an agent and does not have primary responsibility for fulfilling the orders, bear inventory risk or have discretion in establishing prices; and • NCard: The Company generates commission revenue from the customers’ activation of NCards. The revenue is recognized when the NCards are activated by the customers. Critical accounting estimates and judgments For certain contracts that permit the customer to return an item, revenue is currently recognized when a reasonable estimate of return can be made, provided that all other criteria for revenue recognition are met. Because the contract allows the customer to return the products, the consideration received from the customer is variable. The Company has decided to use the expected value method to estimate the goods that will be returned because this method better predicts the amount of variable consideration to which the Company will be entitled.
Expenses and Financial Income and Expenses	Accounting policy Cost of sales consist of costs related to direct sales, including purchase price of consumer products sold to customers from direct sales, inbound freight charges to fulfillment center and outbound freight cost, packaging supplies, gains related to discounts obtained from suppliers and costs for lost, stolen or damaged goods received. Freight charges to receive products from suppliers are included in inventory and recognized as cost of sales upon sale of products to customers. Financial income comprises interest income on cash and cash equivalents, imputed interest income on installment sales arising from extended payment terms offered to our customers, foreign exchange gains and gains on derivative financial instruments. Interest income is recognized as it accrues in profit or loss, using the effective interest rate method. The rate used to determine imputed interest income on installment sales is 100% of the Brazilian Interbank Deposit Rate ( Certificado de Depósito Interbancário Financial expenses comprise interest expenses on debt and imputed interest expense on credit purchases with extended payment terms offered by our suppliers. Financial expenses also include bank fees, foreign exchange losses and losses on derivative instruments. Borrowing costs are recognized in the consolidated statements of profit or loss using the effective interest method. The rate to determine imputed interest expense on credit purchase is 100% of the CDI, plus a percentage that represents the Company’s credit risk.
Cash and Cash Equivalents	Accounting policy Cash and cash equivalents include cash on hand, bank deposits and highly liquid investments in fixed-income funds with an initial maturity of less than three months and subject to an insignificant risk of change in value. Cash and cash equivalents are held with banks and financial institutions counterparties, which are rated BB-,
Trade Accounts Receivable	Accounting policy The Company’s trade accounts receivables are represented by credit sales (installments) funded by credit card operators and receivables from B2B (business-to-business) non-current Trade accounts receivable are recognized at fair value which primarily represents the present value of the amount receivable and subsequently measured at amortized cost using the effective interest method, less any impairment losses. When a trade accounts receivable is uncollectible, it is written-off written-off Policy applicable before January 01, 2018 An impairment loss of trade accounts receivable is recognized when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the relevant receivables. Significant financial difficulties of the debtor, probability that the debtor will enter bankruptcy or financial reorganization, and default or delinquency in payment are considered indicators that the trade accounts receivable may be impaired. Policy applicable from January 01, 2018 The Company always measures loss allowance for trade receivables at an amount equal to lifetime ECLs. Lifetime ECLs are the ECLs that result from all possible default events over the expected life of the instrument. The Company uses provision matrixes to determine its ECLs for trade account receivables.
Inventories	Accounting policy Inventories are valued at the lower of cost and net realizable value. The cost of inventories is based on the weighted-average method, and includes expenditures incurred in acquiring relevant inventories and other costs incurred in bringing them to their existing location and condition. Cost of purchase of inventories comprises their purchase price including non-recoverable When inventories are sold, the carrying amount of those inventories is recognized as cost of sales in the consolidated statements of profit or loss in the period in which the related revenue is recognized. The amount of any write-down of inventories to net realizable value and all losses of inventories are recognized as an expense in the period the write-down or loss occurs. The amount of any reversal of any write-down of inventories is recognized as a reduction in the amount of inventories recognized as an expense in the period in which the reversal occurs.
Property and Equipment	Accounting policy Property and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses. Cost includes the purchase price and any other costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating. The cost of a self-constructed asset is determined using the same principles as for an acquired asset. Depreciation is recognized on a straight-line basis method, reflecting the pattern in which the asset’s future economic benefits are expected to be consumed by the Company. The estimated useful lives are as follows: Asset Class Useful Life (years) Leasehold improvements 10 Machinery and equipment 10 Hardware 6 Facilities 15 Furniture and fixture 12 Vehicles 5 Gain or loss arising from the disposal of property and equipment is determined as the difference between the net disposal proceeds, if any, and the carrying amount of the item and recognized in other operating income (expenses) in the consolidated statements of profit or loss.
Accounting policy	Accounting policy Intangible items are recognized as intangible assets when they meet the following criteria: • the item is identifiable and separable; • the Company has the capacity to control future economic benefits from the item; and • the item will generate future economic benefits. Intangible assets consist mainly of trademark, software purchased, and software internally developed. Intangible assets acquired separately by the Company are measured at cost, which includes capitalized borrowing costs.
Trade Accounts Payable	Accounting policy Trade accounts payable are obligations to pay for goods or services that have been acquired in the ordinary course of business. Trade accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current Trade accounts payable are initially discounted to the present value of consideration due if payment is deferred and subsequently measured at amortized cost using the effective interest method.
Reverse Factoring	Accounting policy Under reverse factoring, financial institutions commit to pay the Company’s suppliers at an accelerated rate in exchange for a trade discount. The Company derecognizes trade accounts payable to suppliers and recognizes financial liabilities with respect to the relevant financial institutions under “Reverse Factoring” in its consolidated statements of financial position. Cash payments made by financial institutions for reverse factoring to relevant suppliers are classified as operating activities in the consolidated statements of cash flows. Reverse factoring are initially discounted to the present value of consideration due if payment is deferred and subsequently measured at amortized cost using the effective interest method.
Accounting policy	Accounting policy Debts are initially measured at fair value, net of transaction costs incurred and are subsequently carried at amortized cost and updated using the effective interest rate method. Any difference between the proceeds (net of transaction costs) and the redemption value is recognized in the consolidated statements of profit or loss over the period of the loan, using the effective interest rate method. The fees paid in obtaining the loan are recognized as transaction costs.
Classification	i. Classification Policy applicable before January 01, 2018 The Company classifies non-derivative held-to-maturity available-for-sale non-derivative Policy applicable from January 01, 2018 The Company classifies non-derivative non-derivative
Non-derivative financial assets and financial liabilities - Recognition and derecognition	ii. Non-derivative The Company initially recognizes financial assets and financial liabilities when it becomes a party to the contractual provisions of the instrument. The Company derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred, or it neither transfers nor retains substantially all of the risks and rewards of ownership and does not retain control over the transferred asset. Any interest in such derecognized financial assets that is created or retained by the Company is recognized as a separate asset or liability. The Company derecognizes a financial liability when its contractual obligations are extinguished – i.e. when they are discharged, cancelled or expire or are substantially modified or exchanged for an obligation with substantially different terms. Financial assets and financial liabilities are offset, and the net amount presented in the statement of financial position when, and only when, the Company currently has a legally enforceable right to offset the amounts and intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously.
Non-derivative financial assets - Measurement	iii. Non-derivative Policy applicable before January 01, 2018 a. Financial assets classified as loans and receivables Loans and receivables are non-derivative All the Company’s financial assets are classified as loans and receivables. Policy applicable from January 01, 2018 b. Financial assets at amortized cost A financial asset is classified as at amortized cost when its contractual cash flows consist only of payment of principal and interest and it is held in a business model whose objective is to hold assets to collect contractual cash flows. These assets are initially measured at fair value plus any directly attributable transaction costs. Subsequent to initial recognition, they are measured at amortized cost using the effective interest method. The amortized cost is reduced by impairment losses. Interest income and impairment are recognized in profit or loss. Any gain or loss on derecognition is recognized in profit or loss. All the Company’s financial assets qualify to be measured at amortized cost.
Non-derivative financial liabilities - Measurement	iv. Non-derivative Financial liabilities are classified as other financial liabilities and are initially measured at fair value less any directly attributable transaction costs. Subsequent to initial recognition, these liabilities are measured at amortized cost using the effective interest method.
Fair Value Measurements	v. Fair Value Measurements Several accounting policies and disclosures require fair value measurement, for both financial and non-financial When measuring the fair value of an asset or a liability, the Company uses observable market data as far as possible. Fair values are categorized into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows: • Level 1 — unadjusted quoted prices in active markets for identical assets or liabilities. • Level 2 — inputs other than quoted prices included in Level 1 that are observable for the assets or liability, either directly or indirectly • Level 3 — inputs for the assets or liability that are not based on observable market data. If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair value hierarchy, then the fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. The Company recognizes transfers between levels of the fair value hierarchy in the reporting period during which the change has occurred.
Accounting policy	Accounting policy Income tax comprises current and deferred tax. Current and deferred income tax are recognized in the consolidated statements of profit or loss except for items directly recognized in equity or in OCI. i. Current Income Tax Current income tax comprises the expected tax payable or receivable on the taxable income or loss for the year and any adjustment to the tax payable or receivable in respect of previous years. The amount of current tax payable or receivable is the best estimate of the tax amount expected to be paid or received that reflects uncertainty related to income taxes, if any. It is measured using tax rates enacted or substantively enacted at the reporting date. ii. Deferred Income Tax Deferred income tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred income tax is not recognized for: • temporary differences on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss; • temporary differences related to investments in subsidiaries to the extent that the Company is able to control the timing of the reversal of the temporary differences and it is probable that they will not reverse in the foreseeable future; and • taxable temporary differences arising on the initial recognition of goodwill. Deferred income tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, using tax rates enacted or substantively enacted at the reporting date. Deferred income tax assets and liabilities are offset only if: • the entity has a legally enforceable right to set off current tax assets against current tax liabilities, and • the deferred tax assets and the deferred tax liabilities relate to income taxes levied by the same taxation authority on either: • the same taxable entity, or • different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered. Critical accounting estimates and judgments Deferred income tax assets are recognized for unused tax losses, unused tax credits and deductible temporary differences to the extent that it is probable that future taxable profits will be available against which they can be used. Deferred income tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized; such reductions are reversed when the probability of future taxable profits improves.
Accounting policy	Accounting policy The Company may grant share-based payments to employees, directors, other service providers or independent contractors. These awards are accounted for as follows: Equity-settled arrangement The grant-date fair value of equity-settled share-based payment arrangements granted to employees is recognized as an expense, with a corresponding increase in equity, over the vesting period of the awards. The amount recognized as an expense is adjusted to reflect the number of awards for which the related service and non-market non-market The Company did not modify any awards during the years ended December 31, 2016, 2017 and 2018. Critical accounting estimates and judgments The fair value of shares options is determined based on the number of shares granted and the quoted price of our common stock, and the fair value of stock options is estimated on the date of grant using the Black-Scholes model. The Company considers many factors when estimating expected forfeitures, including employee level, economic conditions, time remaining to vest, and historical forfeiture experience.
Accounting policy	Accounting policy Provisions for tax, civil and labor risks are recorded when the Company has a present obligation (legal or constructive) as a result of a past event, the amount of the obligation can be reliably estimated, and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation. The Company is part of various lawsuits and administrative proceedings. The assessment of the likelihood of an unfavorable outcome in these lawsuits and proceedings includes the analysis of the evidence available, the hierarchy of the laws, available jurisprudence, as well as, the most recent court decisions and their importance to the relevant legal system and the opinion of external legal counsel. Provisions are reviewed and adjusted to reflect changes in circumstances, such as applicable statute of limitations, conclusions of tax audits or additional exposures identified based on new matters or court decisions. Where it is not probable that an outflow of economic benefits will be required, or the amount cannot be estimated reliably, the obligation is disclosed as a contingent liability, unless the probability of outflow of economic benefits is remote. Possible obligations, whose existence will only be confirmed by the occurrence or non-occurrence Judicial deposits are court-ordered deposits that serve as collateral until the final settlement of the disputes to which they are related. These deposits accrue interest based on the applicable country’s risk-free interest rate and are reported in non-current Critical accounting estimates and judgments By nature, litigations will be resolved when one or more future event occurs or fails to occur. Typically, the occurrence or not of such events is outside of the Company’s control. Legal uncertainties involve the application of significant estimates and judgments by management regarding the potential out comes of future events.
Accounting policy and Critical accounting estimates and judgments	Accounting policy and Critical accounting estimates and judgments At each reporting date, the Company reviews the carrying amounts of its non-financial For impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or CGUs. The recoverable amount of an asset or CGU is the greater of its value in use and its fair value less costs to sell. The value in use calculation is based on a DCF model. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax An impairment loss is recognized when the carrying amount of an asset or the CGU exceeds its recoverable amount. An impairment loss recognized in a prior period is reversed if, and only if, there is an indication that there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized. As at December 31, 2018, the market capitalization of the Company was below the book value of its own equity, indicating a potential impairment of the assets. The Company has defined as a cash-generating unit each country where it operates. For impairment test purpose, the intangible assets located in Cayman, where it has no operations and its assets are used by its subsidiaries, were allocated to Brazil CGU.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Summary of Consolidated Subsidiaries	The consolidated subsidiaries are listed as follows: Percentage Ownership and Company Country of Incorporation December 31, December 31, Netshoes Holding, LLC United States of America 100.00 % 100.00 % NS2 Com Internet S.A. Brazil 100.00 % 100.00 % NS3 Internet S.A. Argentina 98.17 % 98.22 % NS4 Com Internet S.A. Mexico 100.00 % 0.00 % NS4 Servicios de México S.A. C.V. Mexico 100.00 % 0.00 % NS5 Participações Ltda. Brazil 99.99 % 99.99 % NS6 Serviços Esportivos Ltda. Brazil 100.00 % 100.00 %
Summary of Measurement and Classification under IAS 39 and IFRS 9 for Each Class of Financial Assets	The following table compares the measurement and classification under IAS 39 and IFRS 9 for each class of financial assets. Financial instrument Classification under IAS 39 Classification under IFRS 9 Cash and cash equivalents Loans and receivables Amortized cost Restricted cash, current and non-current Loans and receivables Amortized cost Trade accounts receivables Loans and receivables Amortized cost Due from related parties Loans and receivables Amortized cost Judicial deposits Loans and receivables Amortized cost Other assets, current and non-current Loans and receivables Amortized cost
Schedule of Estimated Exposure to Credit Risk and Credit Losses for Trade Accounts Receivable	The application of IFRS 9’s impairment requirements at January 1, 2018 resulted in an additional allowance for doubtful accounts as follows. As at January 1, 2018 Allowance for Restated Not past due R$ (8,199 ) R$ (11,222 ) Past due 1-30 (2,134 ) (2,134 ) Past due 31-90 (3,686 ) (3,686 ) Past due 91-120 (1,845 ) (1,845 ) Past due 120-180 (3,108 ) (3,108 ) Past due over 180 days (1,899 ) (1,899 ) Total R$ (20,871 ) R$ (23,894 )
Summary of Companys Estimation on Increase Decrease on Financial Statement on Application of IFRS 16	Based on the information currently available, the Company estimates that it will recognize amounts between: January 1st, 2019 BRL Increase/(Decrease) Right of use - non-current R$ 80,000 - 90,000 Recoverable taxes - current and non-current 10,000 - 12,000 Lease liability - current liabilities 15,000 - 20,000 Lease liability - non-current 75,000 - 82,000
Schedule of Future Minimum Payments of Non-cancellable Operating Leases	The future minimum payments of non-cancellable BRL USD Up to one year R$ 28,163 US$ 7,268 One to five years 72,225 18,640 More than five years 32,031 8,267 Total R$ 132,419 US$ 34,175

Events occurred during the ye_2

Events occurred during the year (Tables)	12 Months Ended
	Dec. 31, 2018
Statement [LineItems]
Summary of Gain Or Loss From Discontinued Operations	Year ended December 31, BRL Proceeds from sale R$ 6,271 Deferred revenue - TSA (2,865 ) Other related costs (1,793 ) Investments disposal (1,308 ) Foreign currency translation - OCI (64 ) R$ 241
Schedule of Impairment Impact on Closing of Argentina Operations	During the first quarter of 2019 the Company decided to divest the Argentina operations, and recorded the impairment impact as follows: Year ended December 31, BRL USD Recoverable taxes R$ 4,828 US$ 1,246 Property and equipment 839 217 Intangible assets 12 3 R$ 5,679 US$ 1,466
Argentina [member]
Statement [LineItems]
Schedule of Main Effect on Consolidated Financial Statements for 2018	The main effects on the consolidated financial statement for 2018 are as follows: Until December 31, Year ended December 31, BRL BRL USD Gross profit R$ — R$ 5,232 US$ 1,350 Operating loss — (13,866 ) (3,579 ) Net loss — 6,870 1,773 Non-monetary 3,165 3,019 779 Accumulated losses 2,302 9,172 2,367
Mexico [member]
Statement [LineItems]
Summary of Profit or Loss and Cash Flow from Discontinued Operations	The statements of profit or loss and cash flow from discontinued operations of the Mexico operation for the year ended December 31, 2018 are presented below, as well as the restatement of the corresponding years ended December 31, 2016 and 2017, as mentioned in Note 2.2. Years ended December 31, 2016 2017 2018 2018 BRL BRL BRL USD Note 2.2 Discontinued operations Net sales R$ 54,389 R$ 53,794 R$ 45,147 US$ 11,651 Cost of sales (44,422 ) (44,413 ) (35,984 ) (9,287 ) Gross Profit 9,967 9,381 9,163 2,364 Operating expenses: Selling and marketing expenses (12,708 ) (14,017 ) (9,550 ) (2,465 ) General and administrative expenses (12,238 ) (9,884 ) (8,514 ) (2,197 ) Total operating expenses (24,946 ) (23,901 ) (18,064 ) (4,662 ) Operating loss (14,979 ) (14,520 ) (8,901 ) (2,298 ) Financial income 82 1,136 905 234 Financial expenses (2,755 ) (2,737 ) (2,824 ) (729 ) Loss before income tax (2,673 ) (1,601 ) (1,919 ) (495 ) Income tax expense — (2 ) 0 0 Net loss R$ (17,652 ) R$ (16,123 ) R$ (10,820 ) US$ (2,793 ) Gain on sale of discontinued operation — — 241 63 Net loss from discontinued operations R$ (17,652 ) R$ (16,123 ) R$ (10,579 ) US$ (2,730 ) Years ended December 31, 2016 2017 2018 2018 BRL BRL BRL USD Note 2.2 Discontinued operations Cash flows from operating activities: Net loss R$ (17,652 ) R$ (16,123 ) R$ (10,820 ) US$ (2,793 ) Adjustments to reconcile net loss to net cash used in operating activities: Allowance for doubtful accounts — — 155 40 Depreciation and amortization 462 333 294 76 Loss on disposal of property and equipment, and intangible assets — 19 13 3 Interest expense, net 1,831 2,190 2,155 556 Provision for inventory losses (100 ) 479 644 166 Other (125 ) 2 0 0 Changes in operating assets and liabilities: (Increase) decrease in: Trade accounts receivable 120 (645 ) (85 ) (22 ) Inventories 2,709 (5,696 ) 3,916 1,011 Recoverable taxes 1,108 458 1,347 348 Other assets (296 ) 414 1,374 355 Increase (decrease) in: Trade accounts payable (3,982 ) 4,410 (6,192 ) (1,598 ) Taxes and contributions payable (157 ) 5 169 44 Accrued expenses (625 ) 1,118 11 3 Other liabilities 3,629 (82 ) (4,968 ) (1,282 ) Net cash provided by (used in) operating activities (13,078 ) (13,118 ) (11,987 ) (3,093 ) Cash flows from investing activities: Purchase of property and equipment (165 ) (133 ) (59 ) (15 ) Purchase of intangible assets (23 ) (17 ) 0 0 Net cash provided by (used in) investing activities (188 ) (150 ) (59 ) (15 ) Cash flows from financing activities: Proceeds from debt 25,306 25,832 26,169 6,754 Payments of debt (23,548 ) (28,671 ) (20,240 ) (5,224 ) Payments of interest (2,052 ) (2,203 ) (2,038 ) (526 ) Net cash provided by (used in) financing activities (294 ) (5,042 ) 3,891 1,004 Effect of exchange rate changes on cash and cash equivalents (60 ) 148 34 8 Net cash used in discontinued operations (13,620 ) (18,162 ) (8,121 ) (2,096 )

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Reconciliation of Reportable Segments	The Company evaluates the performance of its reportable segments using “segment net income (loss)”. A reconciliation of reportable segments is as follows: Brazil Argentina Reconciling items (corporate and others) Total Year ended December 31, Year ended December 31, Year ended December 31, Year ended December 31, 2016 2017 2018 2018 2016 2017 2018 2018 2016 2017 2018 2018 2016 2017 2018 2018 BRL BRL BRL USD BRL BRL BRL USD BRL BRL BRL USD BRL BRL Restated BRL Restated USD Continuing operations Net Sales R$ 1,554,405 R$ 1,693,467 R$ 1,681,963 US$ 434,077 R$ 130,746 R$ 141,745 R$ 126,101 US$ 32,544 R$ — R$ — R$ 0 US$ 0 R$ 1,685,151 R$ 1,835,212 R$ 1,808,064 US$ 466,621 Cost of sales (1,043,700 ) (1,132,900 ) (1,280,376 ) (330,437 ) (100,531 ) (114,114 ) (109,466 ) (28,251 ) — — 0 0 (1,144,231 ) (1,247,014 ) (1,389,842 ) (358,687 ) Segment gross profit 510,705 560,567 401,587 103,640 30,215 27,631 16,635 4,293 — — 0 0 540,920 588,198 418,222 107,934 Salaries and employees’ benefits (191,140 ) (167,655 ) (193,466 ) (49,929 ) (18,152 ) (20,125 ) (18,845 ) (4,863 ) (1,320 ) (1,449 ) (1,810 ) (467 ) (210,612 ) (189,229 ) (214,121 ) (55,260 ) Marketing expenses (152,759 ) (184,836 ) (188,416 ) (48,626 ) (19,108 ) (18,392 ) (16,306 ) (4,208 ) (233 ) (781 ) (886 ) (229 ) (172,100 ) (204,009 ) (205,608 ) (53,063 ) Operating lease (24,683 ) (25,369 ) (25,928 ) (6,692 ) (2,214 ) (2,094 ) (2,195 ) (566 ) — — 0 0 (26,897 ) (27,463 ) (28,123 ) (7,258 ) Credit card fees (25,572 ) (30,213 ) (31,621 ) (8,161 ) (5,255 ) (5,032 ) (4,192 ) (1,082 ) — — 0 0 (30,827 ) (35,245 ) (35,813 ) (9,243 ) Information technology services (29,473 ) (30,064 ) (25,082 ) (6,474 ) (883 ) (712 ) (665 ) (172 ) (6,244 ) (6,054 ) (3,274 ) (845 ) (36,600 ) (36,830 ) (29,021 ) (7,491 ) Amortization and depreciation (27,777 ) (27,503 ) (41,104 ) (10,607 ) (798 ) (634 ) (1,094 ) (282 ) (2,163 ) (3,350 ) (15,824 ) (4,084 ) (30,738 ) (31,487 ) (58,022 ) (14,974 ) Consulting (7,785 ) (10,081 ) (18,861 ) (4,868 ) (680 ) (684 ) (620 ) (160 ) (1,215 ) (2,215 ) (8,831 ) (2,279 ) (9,680 ) (12,980 ) (28,312 ) (7,307 ) Allowance for doubtful accounts (6,227 ) (25,443 ) (13,014 ) (3,359 ) — — 0 0 — — 0 0 (6,227 ) (25,443 ) (13,014 ) (3,359 ) Sales commissions and royalties (12,021 ) (16,069 ) (17,459 ) (4,505 ) (959 ) (910 ) (940 ) (243 ) — — 0 0 (12,980 ) (16,979 ) (18,399 ) (4,748 ) Facilities expenses (14,020 ) (14,185 ) (13,480 ) (3,479 ) (1,390 ) (1,280 ) (1,084 ) (280 ) — — 0 0 (15,410 ) (15,465 ) (14,564 ) (3,759 ) Other selling, general and administrative expenses (35,803 ) (38,445 ) (21,587 ) (5,571 ) (5,465 ) (3,948 ) (3,728 ) (962 ) (64 ) (920 ) (1,589 ) (410 ) (41,332 ) (43,313 ) (26,904 ) (6,941 ) Other operating (expense) income, net (5,146 ) (3,849 ) (7,502 ) (1,935 ) (103 ) (28 ) (1,803 ) (465 ) (2 ) (56 ) (7 ) (2 ) (5,251 ) (3,933 ) (9,312 ) (2,403 ) Total operating expenses (532,406 ) (573,712 ) (597,520 ) (154,206 ) (55,007 ) (53,839 ) (51,472 ) (13,283 ) (11,241 ) (14,825 ) (32,221 ) (8,316 ) (598,654 ) (642,376 ) (681,213 ) (175,806 ) Financial income 26,642 27,672 14,539 3,752 731 500 427 110 912 824 60 15 28,285 28,996 15,026 3,878 Financial expenses (93,178 ) (116,947 ) (70,329 ) (18,150 ) (11,616 ) (10,002 ) (12,684 ) (3,273 ) (1 ) (2,091 ) (210 ) (54 ) (104,795 ) (129,040 ) (83,223 ) (21,478 ) Monetary correction gain (loss), net — — 0 0 — — 9,595 2,476 — — 0 0 — — 9,595 2,476 Loss before income tax (88,237 ) (102,420 ) (251,723 ) (64,964 ) (35,677 ) (35,710 ) (37,499 ) (9,677 ) (10,330 ) (16,092 ) (32,371 ) (8,355 ) (134,244 ) (154,222 ) (321,593 ) (82,996 ) Income tax expense — — 0 0 — — (202 ) (52 ) — — 0 0 — — (202 ) (52 ) Net loss R$ (88,237 ) R$ (102,420 ) R$ (251,723) US$ (64,964) R$ (35,677 ) R$ (35,710 ) R$ (37,701) US$ (9,729 ) R$ (10,330 ) R$ (16,092 ) R$ (32,371) US$ (8,355 ) R$ (134,244 ) R$ (154,222 ) R$ (321,795 ) US$ (83,048 )
Supplemental Disclosure of Revenue	The Company has aggregated its products and services into groups of similar products and provided the supplemental disclosure of Revenue below. The Company evaluates whether additional disclosure is appropriate when a product or service category begins to approach a significant level of Revenue. Year ended December 31, 2016 2017 2018 2018 BRL Restated BRL Restated BRL USD Sports (1) R$ 1,504,800 R$ 1,528,295 R$ 1,435,652 US$ 370,510 Fashion (1) 172,077 272,423 309,538 79,885 Market Place 8,274 34,494 62,874 16,226 Total net sales R$ 1,685,151 R$ 1,835,212 R$ 1,808,064 US$ 466,621 (1) Freight services were allocated to the product revenues that they are related to.
Disclosure of Geographical Areas	Property and equipment and intangible assets by geography are as follows: Year ended December 31, 2017 2018 2018 BRL BRL USD Property and equipment, net Brazil R$ 69,350 R$ 76,489 US$ 19,740 Argentina 2,574 0 0 Mexico 1,115 0 0 Total property and equipment, net R$ 73,039 R$ 76,489 US$ 19,740 Intangible assets, net Brazil R$ 95,684 R$ 133,117 US$ 34,356 Argentina 11 0 0 Mexico 41 0 0 Cayman 20,103 10,200 2,631 Total intangible assets, net R$ 115,839 R$ 143,317 US$ 36,987 Total 188,878 219,806 56,727

Earnings (Loss) Per Share ("E_2

Earnings (Loss) Per Share ("EPS") (Tables)	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Summary of Computation of Basic and Diluted Loss Per Share Attributable to Owners of Parent	The following table sets forth the computation of the Company’s basic and diluted loss per share attributable to the owners of the Parent for the years ended December 31, 2016, 2017 and 2018: Year ended December 31, 2016 2017 2018 2018 BRL Restated BRL Restated BRL USD Numerator Net loss for the period attributable to the owners of the Parent from continuing operations R$ (133,422 ) R$ (153,623 ) R$ (321,166 ) US$ (82,886 ) Net loss for the period attributable to the owners of the Parent from discontinued operations (17,652 ) (16,123 ) (10,579 ) (2,730 ) Denominator Weighted average number of outstanding shares of common stock 21,435,576 28,510,918 31,056,244 31,056,244 Loss per share attributable to the owners of the Parent (1) Basic and diluted R$ (7.05 ) R$ (5.95 ) R$ (10.68 ) US$ (2.76 ) Basic and diluted from continuing operations (6.22 ) (5.39 ) (10.34 ) (2.67 ) Basic and diluted from discontinued operations (0.83 ) (0.56 ) (0.34 ) (0.09 ) (1) When the Company reports net loss attributable to the owners of the Parent, the diluted loss per common share is equal to the basic losses per common share due to the anti-dilutive effect of the outstanding share options and convertible notes.

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Summary of Revenue	Details of Revenue for years ended December 31, 2016, 2017 and 2018 were as follows: Year ended December 31, 2016 2017 2018 2018 BRL Restated BRL Restated BRL USD Product sales - B2C R$ 1,579,857 R$ 1,734,204 R$ 1,672,380 US$ 431,604 Product sales - B2B 65,884 9,388 10,364 2,675 Other revenues - Freight related services 31,136 56,479 59,883 15,455 Other revenues - Marketplace 8,274 34,494 62,874 16,226 Other revenues - Ncard — 647 2,563 661 Total net sales R$ 1,685,151 R$ 1,835,212 R$ 1,808,064 US$ 466,621
Summary of Tax Incentives Recorded in Revenue	For the years ended December 31, 2016, 2017 and 2018, the total amounts of tax incentives recorded in Revenue are as follows: Year ended December 31, 2016 2017 2018 2018 BRL BRL BRL USD State of Pernambuco R$ 95,151 R$ 66,587 R$ 46,514 US$ 12,004 State of Minas Gerais 121,520 152,588 123,706 31,926 Total tax incentives - Net sales R$ 216,671 R$ 219,175 R$ 170,220 US$ 43,930

Deferred Revenue (Tables)

Deferred Revenue (Tables)	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Summary of Deferred Revenue	Deferred revenue recorded represents the amount paid in advance by the financial institution for the exclusive use of the Company’s customer database and credit card activation. Year ended December 31, 2017 2018 2018 BRL BRL USD Deferred revenue from exclusive use of customer database R$ 11,750 R$ 10,986 US$ 2,835 Deferred revenue from credit card activation 17,484 14,687 3,791 Total R$ 29,234 R$ 25,673 US$ 6,626 Current 3,732 3,983 1,028 Non-current 25,502 21,690 5,598
Summary of Penalty Payment	In the event the Company decides to terminate the contract early, the amounts related to the customer database will be reimbursed to the bank proportionally to the remaining period of the contract and the amounts related to credit card activation will be reimbursed to the bank proportionally to credit cards not activated, both including interest. In addition, a penalty will be paid to the bank as follows: Penalty Termination year BRL 2019 6,300 2020 5,400 2021 4,500 2022 3,600 2023 2,700 2024 1,800 2025 900

Expenses and Financial Income_2

Expenses and Financial Income and Expenses (Tables)	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Summary of Cost of Sales	The following is the breakdown of cost of sales for years ended December 31, 2016, 2017 and 2018, respectively: Year ended December 31, 2016 2017 2018 2018 BRL Restated BRL Restated BRL USD Cost of product sales R$ 1,004,917 R$ 1,085,362 R$ 1,206,757 US$ 311,437 Shipping costs 137,144 149,576 160,517 41,426 Others 2,170 12,076 22,568 5,824 Total cost of sales R$ 1,144,231 R$ 1,247,014 R$ 1,389,842 US$ 358,687
Summary of Cost of Product Sales Include the Non-recoverable ICMS Taxes	For the years ended December 31, 2016, 2017 and 2018, the total amounts of non-recoverable Year ended December 31, 2016 2017 2018 2018 BRL BRL BRL USD State of Pernambuco R$ 30,507 R$ 25,218 R$ 26,220 US$ 6,767 State of Minas Gerais 52,463 81,113 74,409 19,203 Non-recoverable R$ 82,970 R$ 106,331 R$ 100,629 US$ 25,970
Summary of Selling and Marketing Expenses	The following is the breakdown of selling and marketing expenses for years ended December 31, 2016, 2017 and 2018, respectively: Year ended December 31, 2016 2017 2018 2018 BRL Restated BRL Restated BRL USD Salaries and employees’ benefits R$ 132,463 R$ 141,896 R$ 143,806 US$ 37,113 Marketing expenses 172,100 204,009 205,608 53,063 Operating lease 20,300 19,170 19,530 5,040 Credit card fees 30,827 35,245 35,813 9,243 Information technology services 1,896 1,414 1,040 269 Amortization and depreciation 7,624 4,312 7,155 1,846 Consulting — 870 5,651 1,458 Allowance for doubtful accounts 6,227 25,443 13,014 3,359 Sales commissions and royalties 12,980 16,979 18,399 4,748 Facilities expenses 12,117 12,556 11,271 2,909 Others 34,531 33,296 18,919 4,883 Total selling and marketing expenses R$ 431,065 R$ 495,190 R$ 480,206 US$ 123,931
Summary of General and Administrative Expenses	The following is the breakdown of general and administrative expenses for years ended December 31, 2016, 2017 and 2018, respectively: Year ended December 31, 2016 2017 2018 2018 BRL BRL Restated Restated BRL USD Salaries and employees’ benefits R$ 78,149 R$ 47,333 R$ 70,315 US$ 18,147 Operating lease 6,597 8,293 8,593 2,218 Information technology services 34,704 35,416 27,981 7,221 Amortization and depreciation 23,114 27,175 50,867 13,128 Consulting 9,680 12,110 22,661 5,848 Facilities expenses 3,293 2,909 3,293 850 Others 6,801 10,017 7,985 2,060 Total general and administrative expenses R$ 162,338 R$ 143,253 R$ 191,695 US$ 49,472
Summary of Financial Income and Expenses	The following is the breakdown of financial income and expenses of the Company for years ended December 31, 2016, 2017 and 2018, respectively: Year ended December 31, 2016 2017 2018 2018 BRL BRL Restated Restated BRL USD Interest income R$ 19,675 R$ 24,631 R$ 9,833 US$ 2,538 Foreign exchange gain 2,090 1,336 2,871 741 Imputed interest on installment sales(1) 5,706 2,255 2,259 583 Derivative financial instruments gain — 764 0 0 Other 814 10 63 16 Total financial income R$ 28,285 R$ 28,996 R$ 15,026 US$ 3,878 (1) This includes discounts charged by credit card acquirers for the advanced payment of receivables due from them (arising from sales to Company´s customers paid for using credit cards) of R$24,900, R$23,114 and R$16,826 (USD 4,320) for years ended December 31, 2016, 2017 and 2018, respectively. Year ended December 31, 2016 2017 2018 2018 BRL BRL Restated Restated BRL USD Interest expense R$ 65,081 R$ 61,287 R$ 33,302 US$ 8,595 Imputed interest on credit purchases 32,653 53,981 30,439 7,856 Bank charges 3,005 6,451 5,287 1,364 Derivative financial instruments loss 492 — 0 0 Foreign exchange loss — 1,810 6,179 1,595 Debt issuance costs 2,532 4,665 2,447 632 Other 1,032 846 5,569 1,436 Total financial expense R$ 104,795 R$ 129,040 R$ 83,223 US$ 21,478

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Summary of Cash and Cash Equivalents	Year ended December 31, 2017 2018 2018 BRL BRL USD Cash and bank balances R$ 17,801 R$ 6,108 US$ 1,576 Cash equivalents 378,161 61,213 15,798 Total cash and cash equivalents R$ 395,962 R$ 67,321 US$ 17,374

Trade Accounts Receivable, Net

Trade Accounts Receivable, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Summary of Trade Accounts Receivable	Year ended December 31, 2017 2018 2018 BRL BRL USD Trade accounts receivables R$ 134,039 R$ 184,954 US$ 47,733 Allowance for doubtful accounts (20,871 ) (21,147 ) (5,458 ) Total trade accounts receivables, net R$ 113,168 R$ 163,807 US$ 42,275
Summary of Allowance for Doubtful Trade Accounts Receivable	The changes in the allowance for doubtful trade accounts receivable for years ended December 31, 2016, 2017 and 2018 are as follows: Year ended December 31, 2016 2017 2018 2018 BRL BRL BRL USD Balance at January 1 R$ (555 ) R$ (1,722 ) R$ (20,871 ) US$ (5,387 ) Additions (6,227 ) (25,443 ) (13,014 ) (3,359 ) Adjustment from adoption of IFRS 9 (a) — — (2,322 ) (599 ) Adjustment from adoption of IFRS 9 (b) — — (701 ) (181 ) Sale of Mexico operation — — 155 40 Write-offs 5,060 6,294 15,606 4,028 Balance at December 31 R$ (1,722) R$ (20,871) R$ (21,147) US$ (5,458) a) Impact of adopting IFRS9 on opening balance, related to reclassification from accounts receivables (“gross”) to allowance for doubtful accounts at January 1, 2018 as disclosed in Note 2.6. b) Impact of adopting IFRS9 on opening balance, recognized in Accumulated losses as at January 1, 2018 as disclosed in Note 2.6.

Inventories, Net (Tables)

Inventories, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Summary of Inventories, Net	Year ended December 31, 2017 2018 2018 BRL BRL USD Finished goods for resale R$ 466,486 R$ 308,666 US$ 79,660 Right to recover returned goods — 2,282 589 Allowance for slow moving and others (9,854 ) (42,354 ) (10,931 ) Total inventories, net R$ 456,632 R$ 268,594 US$ 69,318

Recoverable Taxes (Tables)

Recoverable Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Summary of Recoverable Taxes	Year ended December 31, 2017 2018 2018 BRL BRL USD VAT Taxes Brazil (ICMS) R$ 107,965 R$ 90,069 US$ 23,245 VAT Taxes International 16,261 1,168 301 Taxes other than income tax (PIS and COFINS) 14,829 176 45 Withholding income taxes 4,467 5,869 1,515 Others 7,290 1,965 507 Total recoverable taxes R$ 150,812 R$ 99,247 US$ 25,613 Current 80,047 59,214 15,282 Non-Current 70,765 40,033 10,332

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Summary of Estimated Useful Lives	The estimated useful lives are as follows: Asset Class Useful Life (years) Leasehold improvements 10 Machinery and equipment 10 Hardware 6 Facilities 15 Furniture and fixture 12 Vehicles 5
Summary of Property and Equipment	Breakdown of and changes in property and equipment are as follows: Leasehold Machinery and Hardware Facilities Furniture and Vehicles Construction Total Total BRL BRL BRL BRL BRL BRL BRL BRL USD As of January 1, 2016 33,463 13,596 R$ 10,259 R$ 5,932 R$ 2,995 R$ 150 R$ 1,287 R$ 67,682 Additions 10,903 2,569 7,403 758 1,218 157 3,384 26,392 Disposals (180 ) (76 ) (220 ) (39 ) (194 ) (1 ) — (710 ) Depreciation for the year (9,833 ) (2,012 ) (4,054 ) (725 ) (629 ) (36 ) — (17,289 ) Tranfers 602 — 673 — 11 — (1,286 ) — Net exchange differences arising from translation adjustments (202 ) (278 ) (115 ) (1,152 ) (119 ) (7 ) — (1,873 ) As of December 31, 2016 R$ 34,753 R$ 13,799 R$ 13,946 R$ 4,774 R$ 3,282 R$ 263 R$ 3,385 R$ 74,202 Additions 358 207 2,018 543 701 — 4,084 7,911 Disposals — — (23 ) (7 ) (17 ) (152 ) — (199 ) Depreciation for the year (1,944 ) (1,444 ) (3,925 ) (657 ) (524 ) (34 ) — (8,528 ) Tranfers 3,340 131 206 205 755 — (4,637 ) — Net exchange differences arising from translation adjustments (43 ) (81 ) (2 ) (190 ) (32 ) 1 — (347 ) As of December 31, 2017 36,464 12,612 12,220 4,668 4,165 78 2,832 73,039 18,850 Additions 185 243 1,308 772 632 — 17,742 20,882 5,389 Disposals (726 ) (75 ) (499 ) (39 ) (202 ) 0 0 (1,541 ) (398 ) Depreciation for the year (5,742 ) (2,354 ) (3,160 ) (422 ) (491 ) (27 ) 0 (12,196 ) (3,147 ) Tranfers 215 18,733 1,602 14 0 (20,564 ) 0 0 Net exchange differences arising from translation adjustments (157 ) (322 ) (70 ) (961 ) (115 ) 0 0 (1,625 ) (419 ) Monetary correction gain, net 366 493 52 1,663 61 (1 ) 0 2,634 680 Impairment (366 ) (681 ) (166 ) (2,146 ) (176 ) 0 0 (3,535 ) (912 ) Sale from Mexico operation 0 (125 ) (180 ) (769 ) (95 ) 0 0 (1,169 ) (303 ) As of December 31, 2018 R$ 30,239 R$ 28,524 R$ 9,505 R$ 4,368 R$ 3,793 R$ 50 R$ 10 R$ 76,489 19,740

Intangible assets, Net (Tables)

Intangible assets, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Summary of Intangible Assets, Estimated Useful Life	The estimated useful lives of assets are as follows: Asset Class Useful Life (years) Purchased software 5 Internally developed software 5 Trademark Indefinite
Summary of Intangible Assets	Breakdown of and changes in intangible assets are as follows: Software Software Software Trademark Other Total Total BRL BRL BRL BRL BRL BRL USD As of January 1, 2016 18,219 R$ 26,794 R$ 7,087 R$ — R$ 559 R$ 52,659 Additions 1,738 15,722 18,760 14,001 — 50,221 Disposals — (187 ) — — — (187 ) Amortization for the year (5,777 ) (8,134 ) — — — (13,911 ) Tranfers 316 5,529 (5,845 ) — — — Net exchange differences arising from translation adjustments (25 ) (1,164 ) — — — (1,189 ) As of January 1, 2017 R$ 14,471 R$ 38,560 R$ 20,002 R$ 14,001 R$ 559 R$ 87,593 Additions 4,850 10,641 35,562 — — 51,053 Disposals — — — — — — Amortization for the year (6,320 ) (16,972 ) — — — (23,292 ) Tranfers 1,475 27,852 (29,327 ) — — — Net exchange differences arising from translation adjustments (2 ) 474 13 — — 485 As of December 31, 2017 14,474 60,555 26,250 14,001 559 115,839 29,897 Additions 11,546 2,231 59,119 0 1 72,897 18,813 Disposals (1,142 ) 0 (1,085 ) 0 0 (2,227 ) (575 ) Amortization for the year (8,694 ) (36,438 ) 0 0 0 (45,132 ) (11,648 ) Tranfers 0 72,970 (72,970 ) 0 0 0 0 Net exchange differences arising from translation adjustments (16 ) 1,951 85 0 0 2,020 521 Monetary correction gain, net 10 0 0 0 0 10 3 Impairment (48 ) 0 0 0 0 (48 ) (12 ) Sale from Mexico operation (42 ) 0 0 0 0 (42 ) (11 ) As of December 31, 2018 R$ 16,088 R$ 101,269 R$ 11,399 14,001 R$ 560 R$ 143,317 U$ 36,988

Trade accounts payable (Tables)

Trade accounts payable (Tables)	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Schedule of Trade Accounts Payable	Year ended December 31, 2017 2018 2018 BRL BRL USD Trade accounts payable - domestic R$ 339,634 R$ 331,656 US$ 85,593 Trade accounts payable - foreign 26,201 5,464 1,410 Total trade accounts payable R$ 365,835 R$ 337,120 US$ 87,003

Reverse factoring (Tables)

Reverse factoring (Tables)	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Schedule of Reverse Factoring	Reverse factoring are initially discounted to the present value of consideration due if payment is deferred and subsequently measured at amortized cost using the effective interest method. Year ended December 31, 2017 2018 2018 BRL BRL USD Trade accounts payable R$ 126,755 R$ 31,731 US$ 8,189 Other liabilities 22,173 13,545 3,496 Total reverse factoring R$ 148,928 R$ 45,276 US$ 11,685

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Schedule of Accrued Expenses	Year ended December 31, 2017 2018 2018 BRL BRL USD Selling and marketing services R$ 76,228 R$ 73,932 US$ 19,080 Provision for sales with a right of return — 3,803 981 Freight 11,087 17,340 4,475 Gift card 7,191 7,722 1,993 Information technology 3,460 6,099 1,574 Acquisition of fixed assets and intangible 1,710 2,182 563 Rentals 2,987 4,226 1,091 Services 4,047 11,188 2,887 Employees benefits 3,566 2,099 542 Other 10,090 8,130 2,099 Total accrued expenses R$ 120,366 R$ 136,721 US$ 35,285

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Summary of Detailed Information about Borrowings [Text Block]	The carrying value of the Company’s outstanding debt consists of the following: Year ended December 31, 2017 2018 2018 BRL BRL USD Secured borrowings R$ 201,769 R$ 164,539 US$ 42,464 Nonconvertible notes - Debentures 84,202 64,340 16,605 Total long-term debt 285,971 228,879 59,069 Current portion of long-term debt 106,577 38,473 9,929 Long-term debt, net of current portion R$ 179,394 R$ 190,406 US$ 49,140 The terms and conditions for loans and borrowings as of December 31, 2017 and 2018 are as follows: At December 31, At December 31, At December 31, Currency Nominal interest Years of Carrying amount Carrying amount Carrying amount BRL BRL USD Secured borrowing - FINAME/BNDES R$ 5.5% 2018 200 0 0 Secured borrowing - FINAME/BNDES R$ 3.0% 2018 338 0 0 Secured borrowing - Working capital (i) R$ 138.5% of CDI 2021 115,783 93,881 24,229 Secured borrowing - Working capital (ii) R$ 100% of CDI + 3.6% 2021 56,811 45,338 11,701 Secured borrowing - Working capital (iii) R$ TJLP +3% 2026 26,188 25,520 6,586 Nonconvertible notes - Debentures (iv) R$ 100% of CDI + 3.2% 2021 84,202 64,140 16,553 Bank Loan MXN TIIE + 1.6% 2,449 0 0 Total 285,971 228,879 59,069 CDI: Interbank Deposit Certificate rate. TJLP : Long-Term Interest Rate FINAME/BNDES: Special Agency for Industrial Financing / National Bank of Economic and Social Development
Schedule of Financial Covenants	The Company was in compliance as of December 31, 2017 and 2018, with all financial covenants described above, as demonstrated below: Year ended December 31, 2017 2018 2018 BRL BRL USD Credit card operations - Gross (1) 114,218 159,023 41,040 Long-term debt 285,971 228,879 59,069 Coefficient ratio (lower or equal to 3) 2.50 1.44 1.44 (1) For covenants calculation purposes, the numerator used to calculate the ratio (credit card gross) represents the balance receivable from credit card operators as of December 31, 2017 and 2018 considering the face value of the corresponding sales invoices (i.e. including interest over installment sales).
Reconciliation of Movements of Assets, Liabilities and Equity to Cash Flows Arising From Financing Activities	Reconciliation of movements of assets, liabilities and equity to cash flows arising from financing activities Assets or liabilities Long term debt Reverse factoring Trade accounts payable Trade accounts receivable BRL USD BRL USD BRL USD BRL USD As of January 1, 2018 R$ 285,971 US$ 73,803 R$ 148,928 US$ 38,435 R$ 365,835 US$ 94,414 R$ 113,168 US$ 29,206 Changes from financing cash flows Payments of debt (57,040 ) (14,721 ) 0 0 0 0 0 0 Payments of interest (23,056 ) (5,950 ) 1,788 461 (34,690 ) (8,953 ) (6,931 ) (1,789 ) Total from financing cash flows (80,095 ) (20,671 ) 1,788 461 (34,690 ) (8,953 ) (6,931 ) (1,789 ) Other changes Adjustments to reconcile net loss to net cash used in operating activities 25,453 6,569 (1,789 ) (462 ) 32,227 8,317 (8,350 ) (2,155 ) Changes in discontinued operations (2,450 ) (632 ) 0 0 (24,755 ) (6,389 ) (1,369 ) (353 ) Changes in operating assets and liabilities 0 0 (103,652 ) (26,750 ) (1,497 ) (386 ) 67,290 17,366 Total from other changes 23,003 5,936 (105,440 ) (27,212 ) 5,975 1,542 57,570 14,858 As of December 31, 2018 R$ 228,879 US$ 59,069 R$ 45,276 US$ 11,685 R$ 337,120 US$ 87,003 R$ 163,807 US$ 42,275 Assets or liabilities Long term debt Reverse factoring Trade accounts payable Trade accounts receivable BRL BRL BRL BRL As of January 1, 2017 R$ 387,382 R$ 27,867 R$ 335,430 R$ 213,994 Proceeds from debt 159,984 — — — Payments of debt (170,459 ) — — — Payments of interest (46,613 ) (916 ) (55,936 ) (7,166 ) Proceeds from issuance of common shares — — — — Total from financing cash flows (57,088 ) (916 ) (55,936 ) (7,166 ) Other changes Adjustments to reconcile net loss to net cash used in operating activities 50,277 916 53,981 (18,277 ) Changes in operating assets and liabilities — 121,061 34,290 (74,450 ) Cash flows from investing activities — — — (2,071 ) Non-cash (94,151 ) — — — Effect of changes in foreign exchange rates (449 ) — (1,930 ) 1,138 Total from other changes (44,323 ) 121,977 86,341 (93,660 ) As of December 31, 2017 R$ 285,971 R$ 148,928 R$ 365,835 R$ 113,168

Financial Instruments - Fair _2

Financial Instruments - Fair Value and Risk Management (Tables)	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Summary of Carrying Amounts and Fair Values of Financial Assets and Financial Liabilities, Including Levels in Fair Value Hierarchy	The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. It does not include fair value information for financial assets and financial liabilities if the carrying amount is a reasonable approximation of fair value. As at December 31, 2017 Carrying amount Finacial assets Finacial measured at liabilities amortized measured at Fair value cost amortized cost Total BRL BRL BRL BRL Financial assets or liabilities, not measured at fair value Cash and cash equivalents — 395,962 — 395,962 Restricted cash, current and non-current — 34,445 — 34,445 Trade accounts receivables — 113,168 — 113,168 Due from related parties — 12 — 12 Judicial deposits — 106,914 — 106,914 Other assets, current and non-current 22,246 — 22,246 Trade accounts payable — — (365,835 ) (365,835 ) Reverse factoring — — (148,928 ) (148,928 ) Long-term debt — — (285,971 ) (285,971 ) Accrued expenses — — (120,366 ) (120,366 ) Other current liabilities — — (31,017 ) (31,017 ) Total R$ — 672,747 (952,117 ) (279,370 ) As at December 31, 2018 Carrying amount Finacial assets Finacial measured at liabilities amortized measured at Fair value cost amortized cost Total Total BRL BRL BRL BRL USD Financial assets or liabilities, not measured at fair value Cash and cash equivalents R$ 0 67,321 0 67,321 US$ 17,374 Restricted cash, current and non-current 0 21,529 0 21,529 5,556 Trade accounts receivables 0 163,807 0 163,807 42,275 Due from related parties 0 7 0 7 2 Judicial deposits 0 119,717 0 119,717 30,896 Other assets, current and non-current 0 14,166 0 14,166 3,656 Trade accounts payable 0 0 (337,120 ) (337,120 ) (87,003 ) Reverse factoring 0 0 (45,276 ) (45,276 ) (11,685 ) Long-term debt 0 0 (228,879 ) (228,879 ) (59,069 ) Accrued expenses 0 0 (136,721 ) (136,721 ) (35,285 ) Other liabilities, current and non-current 0 0 (25,711 ) (25,711 ) (6,636 ) Total R$ 0 386,547 (773,707 ) (387,160 ) US$ (99,917 )
Summary of Maximum Exposure to Credit Risk for Trade Accounts Receivable by Type of Counterparty	At December 31, 2017 and 2018, the maximum exposure to credit risk for trade accounts receivable by type of counterparty was as follows: Year ended December 31, 2017 2018 2018 BRL BRL USD Credit card operations R$ 87,983 R$ 140,719 US$ 36,316 B2B customers and others 46,056 44,235 11,417 Total trade accounts receivable R$ 134,039 R$ 184,954 US$ 47,733 Allowance for doubtful accounts (20,871 ) (21,147 ) (5,458 ) Trade accounts receivable, net R$ 113,168 R$ 163,807 US$ 42,275
Summary of Aging of Trade Accounts Receivable	At December 31, 2017 and 2018, respectively, the aging of trade accounts receivable was as follows: As at December 31, 2017 Allowance for Trade accounts Gross amount doubtful accounts receivable, net BRL BRL BRL Not past due R$ 109,135 R$ (8,199 ) R$ 100,936 Past due 1-30 5,449 (2,134 ) 3,315 Past due 31-90 5,304 (3,686 ) 1,618 Past due 91-120 3,551 (1,845 ) 1,706 Past due 120-180 4,278 (3,108 ) 1,170 Past due over 180 days 6,322 (1,899 ) 4,423 Total R$ 134,039 R$ (20,871 ) R$ 113,168 As at December 31, 2018 Allowance for Trade accounts Trade accounts Gross amount doubtful accounts receivable, net receivable, net BRL BRL BRL USD Not past due R$ 163,924 R$ (4,525 ) R$ 159,399 US$ 41,137 Past due 1-30 1,034 (159 ) 875 226 Past due 31-90 2,461 (731 ) 1,730 446 Past due 91-120 1,784 (247 ) 1,537 397 Past due 120-180 2,183 (1,928 ) 255 66 Past due over 180 days 13,568 (13,557 ) 11 3 Total R$ 184,954 R$ (21,147 ) R$ 163,807 US$ 42,275
Summary of Remaining Contractual Maturities of Financial Liabilities	The following are the remaining contractual maturities of financial liabilities as of December 31, 2018. The amounts are gross and undiscounted and include contractual interest payments. Estimated interest payments were calculated based on the interest rate indexes of the Company’s floating interest rate indebtedness, in effect as of December 31, 2017 and 2018. As at December 31, 2017 Carrying amount Contractuall cash flows 1 - 3 3 - 5 More than 5 Within 1 year years years years BRL BRL BRL BRL BRL Financial liabilities: Long-term debt R$ 285,971 R$ 114,356 R$ 175,141 R$ 9,634 R$ 10,558 Trade accounts payable 365,835 369,493 — — — Reverse factoring 148,928 150,625 — — — Taxes and contributions payable 19,875 19,875 — — — Accrued expenses 120,366 120,366 — — — Other current liabilities 31,017 31,017 — — — Provision for labor, civil and tax risks 12,523 — — — 12,523 Other non-current 27 — — — 27 R$ 984,542 R$ 805,732 R$ 175,141 R$ 9,634 R$ 23,108 As at December 31, 2018 Carrying Carrying amount amount Contractual cash flows 1 - 3 3 - 5 More than 5 Within 1 year years years years BRL USD BRL BRL BRL BRL Financial liabilities: Long-term debt R$ 228,879 US$ 59,069 R$ 59,264 R$ 191,630 R$ 7,120 R$ 6,166 Trade accounts payable 337,120 87,003 339,660 0 0 0 Reverse factoring 45,276 11,685 45,629 0 0 0 Accrued expenses 136,721 35,285 136,721 0 0 0 Other current liabilities 25,709 6,635 25,709 0 0 0 Provision for labor, civil and tax risks 19,935 5,145 0 0 0 19,935 R$ 793,640 US$ 204,822 R$ 606,983 R$ 191,630 R$ 7,120 R$ 26,101
Summary of Company's Unrestricted Cash and Cash Equivalents and Unused Portion of Credit Facility	The following are the Company’s unrestricted cash and cash equivalents and unused portion of the credit facility at December 31, 2017 and 2018: Year ended December 31, 2017 2018 2018 BRL BRL USD Unrestricted cash and cash equivalents R$ 395,962 R$ 67,321 US$ 17,374 Undrawn credit facility 347 0 0 Available liquidity R$ 396,309 R$ 67,321 US$ 17,374
Summary of Quantitative Data About Company's Exposure to Currency Risk	The summary of quantitative data about the Company’s exposure to currency risk as reported to management of the Company is as follows: December 31, 2017 USD BRL Trade accounts payable 7,920 26,199 Accrued expenses 879 2,908 Net statement of financial position exposure 8,799 29,107 December 31, 2018 USD BRL Other current assets (2,462 ) (9,540 ) Trade accounts payable 1,410 5,463 Accrued expenses 65 252 Net statement of financial position exposure (987 ) (3,824 )
Summary of Instantaneous Change in Company's Income or (Loss) Before Tax	The following table indicates the changes in the Company’s income or (loss) before tax that would arise if foreign exchange rates to which the Company has exposure at the reporting date had changed by 10% at that date, assuming all other risk variables remained constant. Profit or loss At December 31, 2017 Strenghthening Weakening BRL BRL Net exposure in USD R$ 2,911 (2,911 ) Profit or loss At December 31, 2018 Strenghthening Weakening BRL BRL Exposure in USD R$ (382 ) 382

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Schedule of Reconciliation of Income Tax Expense at Official Rate to Actual Income Tax Expense	A reconciliation of income tax expense at the weighted average tax rate to the Company´s and its subsidiaries actual income tax expense in 2016, 2017 and 2018, is shown below: Year ended December 31, 2016 2017 2018 2018 BRL Restated BRL Restated BRL USD Loss before income tax R$ (133,157 ) R$ (154,222 ) R$ (321,593 ) US$ (82,996 ) Tax rate (1) 45.37 % 39.66 % 34.08 % 34.08 % 60,418 61,169 109,594 28,284 Increase (decrease) resulting from: Non-deductible (20,001 ) (24,789 ) (21,294 ) (5,496 ) Unrecognized deferred tax benefits (32,820 ) (26,384 ) (74,275 ) (19,169 ) Other (7,597 ) (9,996 ) (14,227 ) (3,671 ) — — (202 ) (52 ) Effective tax rate 0.00 % 0.00 % 0.06 % 0.06 % Income tax expense R$ — R$ — R$ (202 ) US$ (52 ) (1) Weighted average tax rate of the Company and its subsidiaries.
Unrecognized Deferred Income Tax Assets	Deferred income tax assets may be recognized when the Company starts to experience future sustainable taxable income and it is probable that these tax benefits will be realized. Year ended December 31, 2017 2018 2018 BRL BRL USD Deductible temporary differences R$ 52,139 R$ 73,407 US$ 18,945 Income tax loss carry forward 195,538 211,171 54,498 Total unrecognized deferred income tax assets R$ 247,677 R$ 284,578 US$ 73,443
Schedule of Tax Losses Carried Forward	Tax losses carried forward for Argentina expire as follows: December, 31 2018 2018 Expiry date BRL USD 2019 R$ 2,037 US$ 526 2020 2,498 645 2021 2,982 770 2022 4,283 1,105 2023 5,964 1,539 R$ 17,763 US$ 4,584

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Summary of Treasury Shares	A summary of treasury shares activities during the years ended December 31, 2016, 2017 and 2018 is set forth in the following table: N o Share Capital BRL USD Balance at January 1, 2016 15,331 R$ 925 Repurchased 7,320 608 Balance at December 31, 2016 22,651 R$ 1,533 Repurchased — — Balance at December 31, 2017 22,651 1,533 US$ 396 Repurchased 0 0 0 Balance at December 31, 2018 22,651 R$ 1,533 US$ 396

Share-based Payments (Tables)

Share-based Payments (Tables)	12 Months Ended
	Dec. 31, 2018
Cash-settled arrangements [member]
Statement [LineItems]
Summary of Option Activities under Plan and Changes	A summary of option activities under the Plan and changes during the years ended December 31, 2016, 2017 and 2018 is set forth in the following table: Cash-settled arrangements Number of Weighted Weighted Average USD Oustanding at January 1, 2016 273,147 19.28 1.1 year Granted 110,250 8.10 Exercised (20,022 ) 8.10 Forfeited, cancelled and expired (16,608 ) 8.10 Oustanding at December 31, 2016 346,767 US$ 16.91 1.3 year Granted — — Exercised — — Forfeited, cancelled and expired (73,710 ) 43.31 Transfer from cash-settled (273,057 ) (9.59 ) arragements on April 12nd Oustanding at December 31, 2017 — US$ — 0 year
Equity-settled arrangements [member]
Statement [LineItems]
Summary of Option Activities under Plan and Changes	A summary of option activities under the Plan and changes during the years ended December 31, 2016, 2017 and 2018 is set forth in the following table: Equity-settled arrangements Number of Weighted Average Weighted Average USD Oustanding at January 1, 2016 — — Granted 23,250 8.10 Exercised — — Forfeited, cancelled and expired — — Oustanding at December 31, 2016 23,250 US$ 8.10 0.8 year Granted 127,500 8.10 Exercised (30,308 ) 8.10 Forfeited, cancelled and expired (23,879 ) 8.10 Transfer from cash-settled arragements on April 12nd 273,057 9.59 Oustanding at December 31, 2017 369,620 US$ 9.20 0.7 year Granted 828,000 4.37 Exercised 0 0 Forfeited, cancelled and expired (239,436 ) 9.91 Oustanding at December 31, 2018 958,184 US$ 4.85 2.26 years Vested at December 31, 2017 381,282 Vested at December 31, 2018 296,351

Related party transactions (Tab

Related party transactions (Tables)	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Summary of Related Party Transactions	The Company has the following related party transactions: Year ended December 31, 2017 2018 2018 BRL BRL USD Balances from non-controlling Receivables R$ 12 R$ 7 US$ 2 Year ended December 31, 2016 2017 2018 USD Total Income statement amounts BRL BRL BRL USD Key management personnel compensation Compensation and short-term benefits 9.535 19.699 12.882 3.325 Share-based payments 677 4.652 1.510 390 Total R$ 10.212 R$ 24.351 R$ 14.392 US$ 3.715 Financial expenses Convertible notes interest R$ — R$ 2.069 R$ 0 US$ 0

Contingencies (Tables)

Contingencies (Tables)	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Summary of Breakdown and Changes in Provisions Whose Unfavorable Outcome is Probable	Breakdown of and changes in provisions whose unfavorable outcome is probable are as follows: Labor Civil Tax Total BRL BRL BRL BRL As of December 31, 2016 R$ 492 R$ 1,230 R$ 3,455 R$ 5,177 Additions, net of reversals 383 3,039 7,222 10,644 Payments (52 ) (3,246 ) — (3,298 ) As of December 31, 2017 R$ 823 R$ 1,023 R$ 10,677 R$ 12,523 Labor Civil Tax Total Total BRL BRL BRL BRL USD As of December 31, 2017 R$ 823 R$ 1,023 R$ 10,677 R$ 12,523 U$ 3,232 Additions, net of reversals (135 ) 5,550 6,114 11,529 2,975 Payments (190 ) (3,927 ) 0 (4,117 ) (1,062 ) As of December 31, 2018 R$ 498 R$ 2,646 R$ 16,791 R$ 19,935 U$ 5,145
Summary of Judicial Deposits Amounts Accrue Interest	Year ended December 31, 2017 2018 2018 BRL BRL USD VAT taxes Brazil (PIS and COFINS) 1 R$ 94,909 R$ 101,971 US$ 26,316 PIS and COFINS on financial income 1 2,558 3,319 857 Tax on manufactured products (IPI) 2 7,489 12,576 3,246 Other 1,958 1,851 477 Total judicial deposits 106,914 119,717 30,896 (1) Contribution tax on gross revenue for social integration program (PIS) and social security financing (COFINS): The Company is involved in disputes related to: i) Exclusion of VAT tax (ICMS) from PIS and COFINS calculation basis, which started in November 2014. On March 15, 2017, the Brazilian Federal Supreme Court decided for the unconstitutionality of considering the inclusion of the VAT tax (ICMS) from PIS and COFINS calculations basis. Based on this decision, the Company’s lawyers assessed the likelihood of losing this legal dispute as remote as of December 31, 2017 and 2018. Since August 2017, the Brazilian tax authority has ceased the obligation to make the judicial deposit. The Company is currently waiting the court to define which procedures are necessary to refund the judicial deposit. ii) A constitutional challenge on the imposition of PIS and COFINS on financial income. (2) Tax on manufactured products (IPI)

Impairment of long-lived asse_2

Impairment of long-lived assets (Tables)	12 Months Ended
	Dec. 31, 2018
Text block [abstract]
Summary of Key Assumptions Used in Value in Use Calculations and Sensitivity to Changes in Assumptions	CGU Project period CAGR Working Discount Brazil 5 years 12.20 % 13.20 % 14.5 % CGU Project CAGR Royalty Discount Shoestock Perpetual 11.30 % 6.8 % 14.5 %

Organization and Background - A

Organization and Background - Additional information (Detail) $ / shares in Units, R$ in Thousands	Apr. 29, 2019$ / shares	Apr. 18, 2017USD ($)$ / sharesshares	Apr. 18, 2017BRL (R$)	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017USD ($)shares	Dec. 31, 2017BRL (R$)shares	Feb. 22, 2017USD ($)
Disclosure of organization and principal activities [line items]
Reverse stock split description		1.0 for 3.0 share split	1.0 for 3.0 share split	1.0 for 3.0 share split	1.0 for 3.0 share split
Reverse stock split ratio		0.33	0.33	0.33	0.33
Outstanding convertible notes and embedded derivative				$ 59,069,000				R$ 228879		R$ 285971
Accumulated losses				(304,135,000)				(1,178,464)		(847,125)
Net loss				85,778,000	R$ 332374	R$ 170345	R$ 151896
Net cash provided by (used in) continuing operating activities				(25,990,000)	R$ 100707	R$ 43502	(7,778)
Current assets (liabilities)								23,681		317,228
Restricted cash and cash equivalents				5,556,000				21,529		34,445
Tax credits				$ 0			R$ 5500	0		R$ 10118
Collateral [member]
Disclosure of organization and principal activities [line items]
Restricted cash and cash equivalents								88,760
Judicial deposits [member]
Disclosure of organization and principal activities [line items]
Tax credits								R$ 101971
Merger agreement [member]
Disclosure of organization and principal activities [line items]
Cash receivable for each common share | $ / shares	$ 2
Percentage of capital stock holders entered into voting and support agreement	47.90%
Initial public offering [member] | Common shares [member]
Disclosure of organization and principal activities [line items]
Number of common shares issued | shares		8,250,000
Offering price per common share | $ / shares		$ 18
Gross proceeds from common share issue		$ 148,500,000	R$ 459700
Net proceeds from common share issue		134,200,000	415,600
Underwriting discounts and commissions		9,700,000	29,900
Offering expenses		$ 4,600,000	R$ 14200
Convertible notes [member]
Disclosure of organization and principal activities [line items]
Aggregate principal amount | $											$ 30,000,000
Discount price percentage									10.00%	10.00%
Outstanding convertible notes and embedded derivative									$ 30,400,000	R$ 94200
Number of common shares issued | shares									1,870,709	1,870,709

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)R$ / $	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)	Dec. 31, 2018BRL (R$)R$ / $
Disclosure Of Summary Of Significant Accounting Policies [line items]
Foreign exchange rate | R$ / $	3.8748				3.8748
Increase in inventories	$ (21,687)	R$ 84034	R$ 108386	R$ 79904
Increase in other liabilities	(2,135)	(8,273)	(8,683)	(12,954)
Accumulated losses	(304,135)		(847,125)		R$ 1178464
Revenues	466,621	1,808,064	1,835,212	1,685,151
Operating lease expenses	7,253	28,105	27,463	26,813
Argentina [member]
Disclosure Of Summary Of Significant Accounting Policies [line items]
Revenues	32,544	R$ 126101	141,745	R$ 130746
Hyperinflation adjustment due to adoption of IAS 29 [member] | Argentina [member]
Disclosure Of Summary Of Significant Accounting Policies [line items]
Accumulated losses	$ 2,367		R$ 2302		9,172
Hyperinflation adjustment due to adoption of IAS 29 [member] | National Wholesale Price Index [member] | Argentina [member]
Disclosure Of Summary Of Significant Accounting Policies [line items]
Cumulative inflation period	3 years	3 years
Hyperinflation adjustment due to adoption of IAS 29 [member] | National Wholesale Price Index [member] | Argentina [member] | Top of range [member]
Disclosure Of Summary Of Significant Accounting Policies [line items]
Cumulative inflation percentage	100.00%	100.00%
Estimated adjustments due to adoption of IFRS 15 [member]
Disclosure Of Summary Of Significant Accounting Policies [line items]
Increase in inventories		R$ 1592
Increase in other liabilities		2,745
Accumulated losses					R$ 1153
Revenues	$ 273	R$ 1058

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Consolidated Subsidiaries (Detail)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Netshoes Holding, LLC [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	United States of America	United States of America
Percentage Ownership	100.00%	100.00%
Percentage Voting	100.00%	100.00%
NS2 Com Internet S.A. [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Brazil	Brazil
Percentage Ownership	100.00%	100.00%
Percentage Voting	100.00%	100.00%
NS3 Internet S.A. [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Argentina	Argentina
Percentage Ownership	98.17%	98.17%
Percentage Voting	98.22%	98.22%
NS4 Com Internet S.A. [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Mexico	Mexico
Percentage Ownership	100.00%	100.00%
Percentage Voting	0.00%	0.00%
NS4 Servicios de Mxico S.A. C.V. [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Mexico	Mexico
Percentage Ownership	100.00%	100.00%
Percentage Voting	0.00%	0.00%
NS5 Participaes Ltda. [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Brazil	Brazil
Percentage Ownership	99.99%	99.99%
Percentage Voting	99.99%	99.99%
NS6 Servios Esportivos Ltda. [member]
Disclosure of subsidiaries [line items]
Country of Incorporation	Brazil	Brazil
Percentage Ownership	100.00%	100.00%
Percentage Voting	100.00%	100.00%

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Summary of Measurement and Classification under IAS 39 and IFRS 9 for Each Class of Financial Assets (Detail)	12 Months Ended
	Dec. 31, 2018
Cash and cash equivalent [member]
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Classification under IAS 39	Loans and receivables
Classification under IFRS 9	Amortized cost
Restricted cash (current and non-current) [member]
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Classification under IAS 39	Loans and receivables
Classification under IFRS 9	Amortized cost
Trade accounts receivables [member]
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Classification under IAS 39	Loans and receivables
Classification under IFRS 9	Amortized cost
Due from related parties [member]
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Classification under IAS 39	Loans and receivables
Classification under IFRS 9	Amortized cost
Judicial deposits [member]
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Classification under IAS 39	Loans and receivables
Classification under IFRS 9	Amortized cost
Other assets current and non current [member]
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Classification under IAS 39	Loans and receivables
Classification under IFRS 9	Amortized cost

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Schedule of Estimated Exposure to Credit Risk and Credit Losses for Trade Accounts Receivable (Detail) R$ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Jan. 01, 2018BRL (R$)	Dec. 31, 2017USD ($)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)	Dec. 31, 2015BRL (R$)
Disclosure of credit risk exposure [line items]
Allowance for doubtful accounts	$ (5,458)	R$ 21147	R$ 20871	$ (5,387)	R$ 20871	R$ 1722	R$ 555
Not past due [member]
Disclosure of credit risk exposure [line items]
Allowance for doubtful accounts			(8,199)
Past due 1-30 days [member]
Disclosure of credit risk exposure [line items]
Allowance for doubtful accounts			(2,134)
Past due 31-90 days [member]
Disclosure of credit risk exposure [line items]
Allowance for doubtful accounts			(3,686)
Past due 91-120 days [member]
Disclosure of credit risk exposure [line items]
Allowance for doubtful accounts			(1,845)
Past due 120-180 days [member]
Disclosure of credit risk exposure [line items]
Allowance for doubtful accounts			(3,108)
Past due over 180 days [member]
Disclosure of credit risk exposure [line items]
Allowance for doubtful accounts			(1,899)
Estimated adjustments due to adoption of IFRS 9 [member]
Disclosure of credit risk exposure [line items]
Allowance for doubtful accounts			(23,894)
Estimated adjustments due to adoption of IFRS 9 [member] | Not past due [member]
Disclosure of credit risk exposure [line items]
Allowance for doubtful accounts			(11,222)
Estimated adjustments due to adoption of IFRS 9 [member] | Past due 1-30 days [member]
Disclosure of credit risk exposure [line items]
Allowance for doubtful accounts			(2,134)
Estimated adjustments due to adoption of IFRS 9 [member] | Past due 31-90 days [member]
Disclosure of credit risk exposure [line items]
Allowance for doubtful accounts			(3,686)
Estimated adjustments due to adoption of IFRS 9 [member] | Past due 91-120 days [member]
Disclosure of credit risk exposure [line items]
Allowance for doubtful accounts			(1,845)
Estimated adjustments due to adoption of IFRS 9 [member] | Past due 120-180 days [member]
Disclosure of credit risk exposure [line items]
Allowance for doubtful accounts			(3,108)
Estimated adjustments due to adoption of IFRS 9 [member] | Past due over 180 days [member]
Disclosure of credit risk exposure [line items]
Allowance for doubtful accounts			R$ 1899

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Summary of Companys Estimation on Increase Decrease on Financial Statement on Application of IFRS 16 (Detail) - Property, plant and equipment under operating leases [member] - Increase (decrease) due to changes in accounting policy required by IFRSs [member] R$ in Thousands	Jan. 01, 2019BRL (R$)
Bottom of range [member]
Disclosure of finance lease and operating lease by lessee [line items]
Right of use - non-current assets	R$ 80000
Recoverable taxes - current and non-current assets	10,000
Lease liability - current liabilities	15,000
Lease liability - non-current liabilities	75,000
Top of range [member]
Disclosure of finance lease and operating lease by lessee [line items]
Right of use - non-current assets	90,000
Recoverable taxes - current and non-current assets	12,000
Lease liability - current liabilities	20,000
Lease liability - non-current liabilities	R$ 82000

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Schedule of Future Minimum Payments of Non-cancellable Operating Leases (Detail) - Dec. 31, 2018 R$ in Thousands, $ in Thousands	USD ($)	BRL (R$)
Disclosure of finance lease and operating lease by lessee [line items]
Total future minimum payments of non-cancellable operating leases	$ 34,175	R$ 132419
Up to one year [member]
Disclosure of finance lease and operating lease by lessee [line items]
Total future minimum payments of non-cancellable operating leases	7,268	28,163
One to five years [member]
Disclosure of finance lease and operating lease by lessee [line items]
Total future minimum payments of non-cancellable operating leases	18,640	72,225
More than 5 years [member]
Disclosure of finance lease and operating lease by lessee [line items]
Total future minimum payments of non-cancellable operating leases	$ 8,267	R$ 32031

Events Occurred During the Ye_3

Events Occurred During the Year - Schedule of Main Effect on Consolidated Financial Statements for 2018 (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)	Dec. 31, 2018BRL (R$)
Disclosure of Hyperinflationary Reporting [line items]
Gross profit	$ 107,934	R$ 418222	R$ 588198	R$ 540920
Operating loss	(67,872)	(262,991)	(54,178)	(57,734)
Net loss	(83,048)	(321,795)	(154,222)	(134,244)
Accumulated losses	(304,135)		(847,125)		R$ 1178464
Argentina [member]
Disclosure of Hyperinflationary Reporting [line items]
Gross profit	4,293	16,635	27,631	30,215
Net loss	(9,729)	(37,701)	(35,710)	R$ 35677
Hyperinflation adjustment due to adoption of IAS 29 [member] | Argentina [member]
Disclosure of Hyperinflationary Reporting [line items]
Gross profit	1,350	5,232
Operating loss	(3,579)	(13,866)
Net loss	1,773	R$ 6870
Non-monetary assets	779		3,165		3,019
Accumulated losses	$ 2,367		R$ 2302		R$ 9172

Events Occurred During the Ye_4

Events Occurred During the Year - Additional Information (Detail) R$ in Thousands, $ in Thousands, $ in Thousands	Apr. 26, 2019USD ($)	Apr. 26, 2019ARS ($)	Oct. 11, 2018USD ($)	Oct. 11, 2018BRL (R$)	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017	Apr. 26, 2019BRL (R$)	Dec. 31, 2018BRL (R$)	Oct. 11, 2018BRL (R$)
Disclosure of Hyperinflationary Reporting [line items]
Price index movements					0.4760	0.4760	0.2480
Final consideration cash received					$ 62	R$ 241
NS3 Internet S.A. [member] | Major business combination [member]
Disclosure of Hyperinflationary Reporting [line items]
Shares transferred | R$								R$ 1
Capital contribution	$ 2,500	$ 106,000
Mexico [member]
Disclosure of Hyperinflationary Reporting [line items]
Final consideration cash received			$ 1,693	R$ 6271	(6,271)
Loan granted to former subsidiaries			$ 2,462							R$ 8801
Gain recognized from discontinued operation					241
Mexico [member] | Top of range [member]
Disclosure of Hyperinflationary Reporting [line items]
Additional contingent earn- Out payment, maximum					$ 1,500
Mexico [member] | Transitional services agreement [member]
Disclosure of Hyperinflationary Reporting [line items]
IT services term					18 months	18 months
Marketing services term					12 months	12 months
Deferred expenses					$ 739				R$ 2865
Gain recognized from discontinued operation					$ 62	R$ 241

Events Occurred During the Ye_5

Events Occurred During the Year - Summary of Gain Or Loss from Discontinued Operations (Detail) R$ in Thousands, $ in Thousands	Oct. 11, 2018USD ($)	Oct. 11, 2018BRL (R$)	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)
Disclosure Of Cash Flows From Discontinued Operations [line items]
Proceeds from sale			$ (62)	R$ 241
Deferred revenue - TSA			919	R$ 3562	R$ 3641	R$ 1875
Mexico [member]
Disclosure Of Cash Flows From Discontinued Operations [line items]
Proceeds from sale	$ (1,693)	R$ 6271	6,271
Deferred revenue - TSA			(2,865)
Other related costs			(1,793)
Investments disposal			(1,308)
Foreign currency translation - OCI			(64)
Gain loss recognized from discontinued operations			$ 241

Events Occurred During the Ye_6

Events Occurred During the Year - Summary of Profit or Loss and Cash Flow from Discontinued Operations (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)
Disclosure Of Cash Flows From Discontinued Operations [line items]
Net sales	$ 466,621	R$ 1808064	R$ 1835212	R$ 1685151
Cost of sales	(358,687)	(1,389,842)	(1,247,014)	(1,144,231)
Gross profit	107,934	418,222	588,198	540,920
Operating expenses:
Selling and marketing expenses	(123,931)	(480,206)	(495,190)	(431,065)
General and administrative expenses	(49,472)	(191,695)	(143,253)	(162,338)
Total operating expenses	(175,806)	(681,213)	(642,376)	(598,654)
Operating loss	(67,872)	(262,991)	(54,178)	(57,734)
Financial income	3,878	15,026	28,996	28,285
Financial expenses	(21,478)	(83,223)	(129,040)	(104,795)
Loss before income tax	(82,996)	(321,593)	(154,222)	(134,244)
Net loss from discontinued operations	(2,730)	(10,579)	(16,123)	(17,652)
Adjustments to reconcile net loss to net cash used in operating activities:
Allowance for doubtful accounts	3,359	13,014	25,443	1,167
Depreciation and amortization	14,974	58,022	31,487	30,776
Loss on disposal of property and equipment, and intangible assets	(973)	(3,770)	(179)	(901)
Interest expense, net	16,018	62,066	110,568	90,605
Provision for inventory losses	18,717	72,526	4,904	949
Other	52	205	179	(9)
(Increase) decrease in:
Trade accounts receivable	(17,366)	(67,290)	75,095	67,767
Inventories	21,687	84,034	(108,386)	(79,904)
Recoverable taxes	8,836	34,236	(53,172)	(57,610)
Other assets	1,599	6,196	9,525	(20,901)
Increase (decrease) in:
Trade accounts payable	(386)	(1,497)	29,880	98,545
Taxes and contributions payable	139	537	5,112	9,334
Accrued expenses	6,378	24,719	(2,978)	30,118
Other liabilities	(2,135)	(8,273)	(8,683)	(12,954)
Cash flows from investing activities:
Purchase of property and equipment	(5,725)	(22,185)	(7,728)	(25,069)
Purchase of intangible assets	(18,515)	(71,743)	(49,378)	(47,043)
Cash flows from continuing financing activities:
Proceeds from debt	0	0	134,152	137,325
Payments of debt	(14,721)	(57,040)	(141,788)	(79,004)
Payments of interest	(16,230)	(62,889)	(108,429)	(105,234)
Effect of exchange rate changes on cash and cash equivalents	1,198	4,644	6,869	(5,083)
Net cash used in discontinued operations	(2,096)	(8,121)	(18,162)	(13,620)
Mexico [member] | Discontinued operations [member]
Disclosure Of Cash Flows From Discontinued Operations [line items]
Net sales	11,651	45,147	53,794	54,389
Cost of sales	(9,287)	(35,984)	(44,413)	(44,422)
Gross profit	2,364	9,163	9,381	9,967
Operating expenses:
Selling and marketing expenses	(2,465)	(9,550)	(14,017)	(12,708)
General and administrative expenses	(2,197)	(8,514)	(9,884)	(12,238)
Total operating expenses	(4,662)	(18,064)	(23,901)	(24,946)
Operating loss	(2,298)	(8,901)	(14,520)	(14,979)
Financial income	234	905	1,136	82
Financial expenses	(729)	(2,824)	(2,737)	(2,755)
Loss before income tax	(495)	(1,919)	(1,601)	(2,673)
Income tax expense	0	0	(2)
Net loss	(2,793)	(10,820)	(16,123)	(17,652)
Gain on sale of discontinued operation	63	241
Net loss from discontinued operations	(2,730)	(10,579)	(16,123)	(17,652)
Cash flows from operating activities:
Net loss	(2,793)	(10,820)	(16,123)	(17,652)
Adjustments to reconcile net loss to net cash used in operating activities:
Allowance for doubtful accounts	40	155
Depreciation and amortization	76	294	333	462
Loss on disposal of property and equipment, and intangible assets	3	13	19
Interest expense, net	556	2,155	2,190	1,831
Provision for inventory losses	166	644	479	(100)
Other	0	0	2	(125)
(Increase) decrease in:
Trade accounts receivable	(22)	(85)	(645)	120
Inventories	1,011	3,916	(5,696)	2,709
Recoverable taxes	348	1,347	458	1,108
Other assets	355	1,374	414	(296)
Increase (decrease) in:
Trade accounts payable	(1,598)	(6,192)	4,410	(3,982)
Taxes and contributions payable	44	169	5	(157)
Accrued expenses	3	11	1,118	(625)
Other liabilities	(1,282)	(4,968)	(82)	3,629
Net cash provided by (used in) operating activities	(3,093)	(11,987)	(13,118)	(13,078)
Cash flows from investing activities:
Purchase of property and equipment	(15)	(59)	(133)	(165)
Purchase of intangible assets	0	0	(17)	(23)
Net cash provided by (used in) investing activities	(15)	(59)	(150)	(188)
Cash flows from continuing financing activities:
Proceeds from debt	6,754	26,169	25,832	25,306
Payments of debt	(5,224)	(20,240)	(28,671)	(23,548)
Payments of interest	(526)	(2,038)	(2,203)	(2,052)
Net cash provided by (used in) financing activities	1,004	3,891	(5,042)	(294)
Effect of exchange rate changes on cash and cash equivalents	8	34	148	(60)
Net cash used in discontinued operations	$ (2,096)	R$ 8121	R$ 18162	R$ 13620

Events Occurred the Year - Sche

Events Occurred the Year - Schedule of Impairment Impact on Closing of Argentina Operations (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017USD ($)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)	Dec. 31, 2015BRL (R$)
Disclosure of impairment loss recognised or reversed for cash-generating unit [line items]
Recoverable taxes	$ 10,332		R$ 40033		R$ 70765
Property and equipment	19,740		76,489	$ 18,850	73,039	R$ 74202	R$ 67682
Intangible assets	36,987		143,317	$ 29,897	115,839	R$ 87593	R$ 52659
Argentina [member]
Disclosure of impairment loss recognised or reversed for cash-generating unit [line items]
Recoverable taxes	1,246		4,828
Property and equipment	217		839		2,574
Intangible assets	3		R$ 12		R$ 11
Impairment impact, total	$ 1,466	R$ 5679

Segment Information - Reconcili

Segment Information - Reconciliation of Reportable Segments (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)
Disclosure of operating segments [line items]
Net sales	$ 466,621	R$ 1808064	R$ 1835212	R$ 1685151
Cost of sales	(358,687)	(1,389,842)	(1,247,014)	(1,144,231)
Segment gross profit	107,934	418,222	588,198	540,920
Salaries and employees' benefits	(55,260)	(214,121)	(189,229)	(210,612)
Marketing expenses	(53,063)	(205,608)	(204,009)	(172,100)
Operating lease	(7,258)	(28,123)	(27,463)	(26,897)
Credit card fees	(9,243)	(35,813)	(35,245)	(30,827)
Information technology services	(7,491)	(29,021)	(36,830)	(36,600)
Amortization and depreciation	(14,974)	(58,022)	(31,487)	(30,738)
Consulting	(7,307)	(28,312)	(12,980)	(9,680)
Allowance for doubtful accounts	(3,359)	(13,014)	(25,443)	(6,227)
Sales commissions and royalties	(4,748)	(18,399)	(16,979)	(12,980)
Facilities expenses	(3,759)	(14,564)	(15,465)	(15,410)
Other selling, general and administrative expenses	(6,941)	(26,904)	(43,313)	(41,332)
Other operating (expense) income, net	(2,403)	(9,312)	(3,933)	(5,251)
Total operating expenses	(175,806)	(681,213)	(642,376)	(598,654)
Financial income	3,878	15,026	28,996	28,285
Financial expenses	(21,478)	(83,223)	(129,040)	(104,795)
Monetary correction gain (loss), net	2,476	9,595
Loss before income tax	(82,996)	(321,593)	(154,222)	(134,244)
Income tax expense	(52)	(202)
Net loss	(83,048)	(321,795)	(154,222)	(134,244)
Argentina [member]
Disclosure of operating segments [line items]
Net sales	32,544	126,101	141,745	130,746
Cost of sales	(28,251)	(109,466)	(114,114)	(100,531)
Segment gross profit	4,293	16,635	27,631	30,215
Salaries and employees' benefits	(4,863)	(18,845)	(20,125)	(18,152)
Marketing expenses	(4,208)	(16,306)	(18,392)	(19,108)
Operating lease	(566)	(2,195)	(2,094)	(2,214)
Credit card fees	(1,082)	(4,192)	(5,032)	(5,255)
Information technology services	(172)	(665)	(712)	(883)
Amortization and depreciation	(282)	(1,094)	(634)	(798)
Consulting	(160)	(620)	(684)	(680)
Allowance for doubtful accounts	0	0
Sales commissions and royalties	(243)	(940)	(910)	(959)
Facilities expenses	(280)	(1,084)	(1,280)	(1,390)
Other selling, general and administrative expenses	(962)	(3,728)	(3,948)	(5,465)
Other operating (expense) income, net	(465)	(1,803)	(28)	(103)
Total operating expenses	(13,283)	(51,472)	(53,839)	(55,007)
Financial income	110	427	500	731
Financial expenses	(3,273)	(12,684)	(10,002)	(11,616)
Monetary correction gain (loss), net	2,476	9,595
Loss before income tax	(9,677)	(37,499)	(35,710)	(35,677)
Income tax expense	(52)	(202)
Net loss	(9,729)	(37,701)	(35,710)	(35,677)
Reportable segments [member] | Brazil [member]
Disclosure of operating segments [line items]
Net sales	434,077	1,681,963	1,693,467	1,554,405
Cost of sales	(330,437)	(1,280,376)	(1,132,900)	(1,043,700)
Segment gross profit	103,640	401,587	560,567	510,705
Salaries and employees' benefits	(49,929)	(193,466)	(167,655)	(191,140)
Marketing expenses	(48,626)	(188,416)	(184,836)	(152,759)
Operating lease	(6,692)	(25,928)	(25,369)	(24,683)
Credit card fees	(8,161)	(31,621)	(30,213)	(25,572)
Information technology services	(6,474)	(25,082)	(30,064)	(29,473)
Amortization and depreciation	(10,607)	(41,104)	(27,503)	(27,777)
Consulting	(4,868)	(18,861)	(10,081)	(7,785)
Allowance for doubtful accounts	(3,359)	(13,014)	(25,443)	(6,227)
Sales commissions and royalties	(4,505)	(17,459)	(16,069)	(12,021)
Facilities expenses	(3,479)	(13,480)	(14,185)	(14,020)
Other selling, general and administrative expenses	(5,571)	(21,587)	(38,445)	(35,803)
Other operating (expense) income, net	(1,935)	(7,502)	(3,849)	(5,146)
Total operating expenses	(154,206)	(597,520)	(573,712)	(532,406)
Financial income	3,752	14,539	27,672	26,642
Financial expenses	(18,150)	(70,329)	(116,947)	(93,178)
Monetary correction gain (loss), net	0	0
Loss before income tax	(64,964)	(251,723)	(102,420)	(88,237)
Income tax expense	0	0
Net loss	(64,964)	(251,723)	(102,420)	(88,237)
Reconciling items (corporate and others) [member]
Disclosure of operating segments [line items]
Net sales	0	0
Cost of sales	0	0
Segment gross profit	0	0
Salaries and employees' benefits	(467)	(1,810)	(1,449)	(1,320)
Marketing expenses	(229)	(886)	(781)	(233)
Operating lease	0	0
Credit card fees	0	0
Information technology services	(845)	(3,274)	(6,054)	(6,244)
Amortization and depreciation	(4,084)	(15,824)	(3,350)	(2,163)
Consulting	(2,279)	(8,831)	(2,215)	(1,215)
Allowance for doubtful accounts	0	0
Sales commissions and royalties	0	0
Facilities expenses	0	0
Other selling, general and administrative expenses	(410)	(1,589)	(920)	(64)
Other operating (expense) income, net	(2)	(7)	(56)	(2)
Total operating expenses	(8,316)	(32,221)	(14,825)	(11,241)
Financial income	15	60	824	912
Financial expenses	(54)	(210)	(2,091)	(1)
Monetary correction gain (loss), net	0	0
Loss before income tax	(8,355)	(32,371)	(16,092)	(10,330)
Income tax expense	0	0
Net loss	$ (8,355)	R$ 32371	R$ 16092	R$ 10330

Segment Information - Supplemen

Segment Information - Supplemental Disclosure of Revenue (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)
Disclosure of products and services [line items]
Revenue	$ 466,621	R$ 1808064	R$ 1835212	R$ 1685151
Sports [member]
Disclosure of products and services [line items]
Revenue	370,510	1,435,652	1,528,295	1,504,800
Fashion [member]
Disclosure of products and services [line items]
Revenue	79,885	309,538	272,423	172,077
Marketplace [member]
Disclosure of products and services [line items]
Revenue	$ 16,226	R$ 62874	R$ 34494	R$ 8274

Segment Information - Disclosur

Segment Information - Disclosure of Geographical Areas, Property and Equipment and Intangible Assets (Detail) R$ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017USD ($)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)	Dec. 31, 2015BRL (R$)
Disclosure of operating segments [line items]
Property and equipment, net	$ 19,740	R$ 76489	$ 18,850	R$ 73039	R$ 74202	R$ 67682
Intangible assets, net	36,987	143,317	$ 29,897	115,839	R$ 87593	R$ 52659
Total	56,727	219,806		188,878
Brazil [member]
Disclosure of operating segments [line items]
Property and equipment, net	19,740	76,489		69,350
Intangible assets, net	34,356	133,117		95,684
Argentina [member]
Disclosure of operating segments [line items]
Property and equipment, net	217	839		2,574
Intangible assets, net	3	12		11
Mexico [member]
Disclosure of operating segments [line items]
Property and equipment, net				1,115
Intangible assets, net	0	0		41
Cayman [member]
Disclosure of operating segments [line items]
Intangible assets, net	$ 2,631	R$ 10200		R$ 20103

Earnings (Loss) Per Share ("E_3

Earnings (Loss) Per Share ("EPS") - Additional Information (Detail)	Apr. 18, 2017
Earnings per share [abstract]
Stock split ratio	3

Earnings (Loss) Per Share ("E_4

Earnings (Loss) Per Share ("EPS") - Summary of Computation of Basic and Diluted Loss Per Share Attributable to Owners of Parent (Detail) R$ / shares in Units, $ / shares in Units, shares in Thousands, R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2018BRL (R$)R$ / sharesshares	Dec. 31, 2017BRL (R$)R$ / sharesshares	Dec. 31, 2016BRL (R$)R$ / sharesshares
Numerator
Net loss for the period attributable to the owners of the Parent from continuing operations	$ (82,886)	R$ 321166	R$ 153623	R$ 133422
Net loss for the period attributable to the owners of the Parent from discontinued operations	$ (2,730)	R$ 10579	R$ 16123	R$ 17652
Denominator
Weighted average number of outstanding shares of common stock	31,056,244	31,056,244	28,510,918	21,435,576
Loss per share attributable to the owners of the Parent
Basic and diluted | (per share)	$ (2.76)	R$ 10.68	R$ 5.95	R$ 7.05
Basic and diluted from continuing operations | (per share)	(2.67)	(10.34)	(5.39)	(6.22)
Basic and diluted from discontinued operations | (per share)	$ (0.09)	R$ 0.34	R$ 0.56	R$ 0.83

Revenue - Summary of Revenue (D

Revenue - Summary of Revenue (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)
Disclosure of revenue [Line Items]
Total net sales	$ 466,621	R$ 1808064	R$ 1835212	R$ 1685151
B2C [member]
Disclosure of revenue [Line Items]
Product sales	431,604	1,672,380	1,734,204	1,579,857
B2B [member]
Disclosure of revenue [Line Items]
Product sales	2,675	10,364	9,388	65,884
Freight related services [Member]
Disclosure of revenue [Line Items]
Other revenues	15,455	59,883	56,479	31,136
Marketplace [member]
Disclosure of revenue [Line Items]
Other revenues	16,226	62,874	34,494	R$ 8274
Ncard [member]
Disclosure of revenue [Line Items]
Other revenues	$ 661	R$ 2563	R$ 647

Revenue - Additional Informatio

Revenue - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
State of Minas Gerais [member]
Disclosure of revenue [Line Items]
Sales taxes rate	1.00%	1.00%
Bottom of range [member] | State of Pernambuco [member]
Disclosure of revenue [Line Items]
Sales taxes rate	0.50%	0.50%
Top of range [member] | State of Pernambuco [member]
Disclosure of revenue [Line Items]
Sales taxes rate	1.00%	1.00%

Revenue - Summary of Tax Incent

Revenue - Summary of Tax Incentives Recorded in Revenue (Detail) R$ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)
Disclosure of revenue [Line Items]
Tax incentives - Revenue	$ 43,930	R$ 170220	R$ 219175	R$ 216671
State of Pernambuco [member]
Disclosure of revenue [Line Items]
Tax incentives - Revenue	12,004	46,514	66,587	95,151
State of Minas Gerais [member]
Disclosure of revenue [Line Items]
Tax incentives - Revenue	$ 31,926	R$ 123706	R$ 152588	R$ 121520

Deferred Revenue - Summary of D

Deferred Revenue - Summary of Deferred Revenue (Detail) R$ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)
Disclosure of deferred income [line items]
Deferred revenue	$ 6,626	R$ 25673	R$ 29234
Deferred revenue, Current	1,028	3,983	3,732
Deferred revenue, Non-current	5,598	21,690	25,502
Exclusive use of customer database [member]
Disclosure of deferred income [line items]
Deferred revenue	2,835	10,986	11,750
Credit card activation [member]
Disclosure of deferred income [line items]
Deferred revenue	$ 3,791	R$ 14687	R$ 17484

Deferred Revenue - Additional I

Deferred Revenue - Additional Information (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)
Disclosure of deferred income [line items]
Other operating income (expense)	$ (2,403)	R$ 9312	R$ 3933	R$ 5251
Exclusive use of customer database [member]
Disclosure of deferred income [line items]
Period of contract	10 years	10 years
Other operating income (expense)	$ 387	R$ 1500	1,500	1,500
Credit card activation [member]
Disclosure of deferred income [line items]
Other revenue	$ 661	R$ 2563	R$ 647	R$ 0

Deferred Revenue - Summary of P

Deferred Revenue - Summary of Penalty Payment (Detail) R$ in Thousands	12 Months Ended
	Dec. 31, 2018BRL (R$)
2019 [member]
Disclosure of Penalty Payment [line items]
Penalty payment	R$ 6300
2020 [member]
Disclosure of Penalty Payment [line items]
Penalty payment	5,400
2021 [member]
Disclosure of Penalty Payment [line items]
Penalty payment	4,500
2022 [member]
Disclosure of Penalty Payment [line items]
Penalty payment	3,600
2023 [member]
Disclosure of Penalty Payment [line items]
Penalty payment	2,700
2024 [member]
Disclosure of Penalty Payment [line items]
Penalty payment	1,800
2025 [member]
Disclosure of Penalty Payment [line items]
Penalty payment	R$ 900

Expenses and Financial Income_3

Expenses and Financial Income and Expenses - Additional Information (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)	Dec. 31, 2018BRL (R$)
Disclosure Of Expenses and Financial Income and Expenses [line items]
Impact of tax incentives net of non-recoverable ICMS	$ 17,960	R$ 69591	R$ 112844	R$ 133701
Tax credits	$ 0		R$ 10118	R$ 5500	R$ 0
Brazilian Interbank Deposit Rate [member]
Disclosure Of Expenses and Financial Income and Expenses [line items]
Imputed interest income rate on installment sales	100.00%	100.00%
Imputed interest income rate on credit purchase	100.00%	100.00%

Expenses and Financial Income_4

Expenses and Financial Income and Expenses - Summary of Cost of Sales (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)
Disclosure of expenses and financial income and expenses [abstract]
Cost of product sales	$ 311,437	R$ 1206757	R$ 1085362	R$ 1004917
Shipping costs	41,426	160,517	149,576	137,144
Others	5,824	22,568	12,076	2,170
Total cost of sales	$ 358,687	R$ 1389842	R$ 1247014	R$ 1144231

Expenses and Financial Income_5

Expenses and Financial Income and Expenses - Summary of Cost of Product Sales Include the Non-recoverable ICMS Taxes (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)
Disclosure Of Expenses and Financial Income and Expenses [line items]
Non-recoverable ICMS	$ 25,970	R$ 100629	R$ 106331	R$ 82970
State of Pernambuco [member]
Disclosure Of Expenses and Financial Income and Expenses [line items]
Non-recoverable ICMS	6,767	26,220	25,218	30,507
State of Minas Gerais [member]
Disclosure Of Expenses and Financial Income and Expenses [line items]
Non-recoverable ICMS	$ 19,203	R$ 74409	R$ 81113	R$ 52463

Expenses and Financial Income_6

Expenses and Financial Income and Expenses - Summary of Selling and Marketing Expenses (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)
Disclosure Of Expenses and Financial Income and Expenses [line items]
Salaries and employees' benefits	$ 55,260	R$ 214121	R$ 189229	R$ 210612
Marketing expenses	53,063	205,608	204,009	172,100
Credit card fees	9,243	35,813	35,245	30,827
Information technology services	7,491	29,021	36,830	36,600
Amortization and depreciation	14,974	58,022	31,487	30,738
Consulting	7,307	28,312	12,980	9,680
Allowance for doubtful accounts	3,359	13,014	25,443	6,227
Sales commissions and royalties	4,748	18,399	16,979	12,980
Facilities expenses	3,759	14,564	15,465	15,410
Total selling and marketing expenses	123,931	480,206	495,190	431,065
Selling and marketing expenses [member]
Disclosure Of Expenses and Financial Income and Expenses [line items]
Salaries and employees' benefits	37,113	143,806	141,896	132,463
Marketing expenses	53,063	205,608	204,009	172,100
Operating lease	5,040	19,530	19,170	20,300
Credit card fees	9,243	35,813	35,245	30,827
Information technology services	269	1,040	1,414	1,896
Amortization and depreciation	1,846	7,155	4,312	7,624
Consulting	1,458	5,651	870
Allowance for doubtful accounts	3,359	13,014	25,443	6,227
Sales commissions and royalties	4,748	18,399	16,979	12,980
Facilities expenses	2,909	11,271	12,556	12,117
Others	$ 4,883	R$ 18919	R$ 33296	R$ 34531

Expenses and Financial Income_7

Expenses and Financial Income and Expenses - Summary of General and Administrative Expenses (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)
Disclosure Of Expenses and Financial Income and Expenses [line items]
Salaries and employees' benefits	$ 55,260	R$ 214121	R$ 189229	R$ 210612
Information technology services	7,491	29,021	36,830	36,600
Amortization and depreciation	14,974	58,022	31,487	30,738
Consulting	7,307	28,312	12,980	9,680
Facilities expenses	3,759	14,564	15,465	15,410
Total general and administrative expenses	49,472	191,695	143,253	162,338
General and administrative expenses [member]
Disclosure Of Expenses and Financial Income and Expenses [line items]
Salaries and employees' benefits	18,147	70,315	47,333	78,149
Operating lease	2,218	8,593	8,293	6,597
Information technology services	7,221	27,981	35,416	34,704
Amortization and depreciation	13,128	50,867	27,175	23,114
Consulting	5,848	22,661	12,110	9,680
Facilities expenses	850	3,293	2,909	3,293
Others	$ 2,060	R$ 7985	R$ 10017	R$ 6801

Expenses and Financial Income_8

Expenses and Financial Income and Expenses - Summary of Financial Income and Expenses (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)	Dec. 31, 2018BRL (R$)
Disclosure of expenses and financial income and expenses [abstract]
Interest income	$ 2,538	R$ 9833	R$ 24631	R$ 19675
Foreign exchange gain	741	2,871	1,336	2,090
Imputed interest on installment sales	583	2,259	2,255	5,706
Derivative financial instruments gain	0	0	764
Other	16	63	10	814
Total financial income	3,878	15,026	28,996	28,285
Interest expense	8,595	33,302	61,287	65,081
Imputed interest on credit purchases	7,856	30,439	53,981	32,653
Bank charges	1,364	5,287	6,451	3,005
Derivative financial instruments loss	0	0		492
Foreign exchange loss	1,595	6,179	1,810
Debt issuance costs	632		4,665	2,532	R$ 2447
Other	1,436	5,569	846	1,032
Total financial expense	$ 21,478	R$ 83223	R$ 129040	R$ 104795

Expenses and Financial Income_9

Expenses and Financial Income and Expenses - Summary of Financial Income and Expenses (Parenthetical) (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)
Disclosure of expenses and financial income and expenses [abstract]
Discounts charged by credit card acquirers	$ 4,320	R$ 16826	R$ 23114	R$ 24900

Cash and Cash Equivalents - Sum

Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Detail) R$ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017USD ($)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)	Dec. 31, 2015BRL (R$)
Cash and cash equivalents [abstract]
Cash and bank balances	$ 1,576	R$ 6108		R$ 17801
Cash equivalents	15,798	61,213		378,161
Total cash and cash equivalents	$ 17,374	R$ 67321	$ 102,189	R$ 395962	R$ 111305	R$ 249064

Cash and Cash Equivalents - Add

Cash and Cash Equivalents - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2018
Disclosure Of Cash And Cash Equivalents [abstract]
Cash equivalents maturity period	90 days or less
Interbank deposit certificate rate	89.93%

Trade Accounts Receivable, Ne_2

Trade Accounts Receivable, Net - Summary of Trade Accounts Receivable (Detail) R$ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)
Disclosure Of Trade Accounts Receivable [abstract]
Trade accounts receivables	$ 47,733	R$ 184954	R$ 134039
Allowance for doubtful accounts	(5,458)	(21,147)	(20,871)
Total trade accounts receivables, net	$ 42,275	R$ 163807	R$ 113168

Trade Accounts Receivable, Ne_3

Trade Accounts Receivable, Net - Summary of Allowance for Doubtful Trade Accounts Receivable (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)
Disclosure Of Allowance For Doubtful Accounts [abstract]
Allowance for doubtful accounts, beginning balance	$ (5,387)	R$ 20871	R$ 1722	R$ 555
Allowance for doubtful accounts, Additions	(3,359)	(13,014)	(25,443)	(6,227)
Adjustment from adoption of IFRS 9	(599)	(2,322)
Adjustment from adoption of IFRS 9	(181)	(701)
Sale of Mexico operation	40	155
Allowance for doubtful accounts, Write-offs	4,028	15,606	6,294	5,060
Allowance for doubtful accounts, ending balance	$ (5,458)	R$ 21147	R$ 20871	R$ 1722

Inventories, Net - Summary of I

Inventories, Net - Summary of Inventories, Net (Detail) R$ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)
Disclosure of inventories [abstract]
Finished goods for resale	$ 79,660	R$ 308666	R$ 466486
Right to recover returned goods	589	2,282
Allowance for slow moving and others	(10,931)	(42,354)	(9,854)
Total inventories, net	$ 69,318	R$ 268594	R$ 456632

Inventories, Net - Additional I

Inventories, Net - Additional Information (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)
Disclosure of inventories [abstract]
Cost of inventories sold and recognized as cost of sales	$ 261,669	R$ 1014856	R$ 1126781	R$ 1040803
Impairment losses on inventories	16,565	64,187	R$ 4904	R$ 949
Additional allowances for net realizable value		44,367
Inventories writedown		14,914
Reduction in inventories	$ 6,378	R$ 24713

Recoverable Taxes - Summary of

Recoverable Taxes - Summary of Recoverable Taxes (Detail) R$ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)
Disclosure of recoverable taxes [line items]
Taxes other than income tax (PIS and COFINS)	$ 45	R$ 176	R$ 14829
Withholding income taxes	1,515	5,869	4,467
Others	507	1,965	7,290
Total recoverable taxes	25,613	99,247	150,812
Current	15,282	59,214	80,047
Non-Current	10,332	40,033	70,765
Brazil [member]
Disclosure of recoverable taxes [line items]
VAT Taxes	23,245	90,069	107,965
International [member]
Disclosure of recoverable taxes [line items]
VAT Taxes	$ 301	R$ 1168	R$ 16261

Recoverable Taxes - Additional

Recoverable Taxes - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2018BRL (R$)
Argentina [member]
Disclosure of recoverable taxes [line items]
Impairment loss on VAT taxes	R$ 4828

Property and Equipment, Net - S

Property and Equipment, Net - Summary of Estimated Useful Lives (Detail)	12 Months Ended
	Dec. 31, 2018
Leasehold improvements [member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful Life (years)	10 years
Machinery and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful Life (years)	10 years
Hardware [member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful Life (years)	6 years
Facilities [member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful Life (years)	15 years
Furniture and fixture [member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful Life (years)	12 years
Vehicles [member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful Life (years)	5 years

Property and Equipment, Net -_2

Property and Equipment, Net - Summary of Property and Equipment, Movement for the Period (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	$ 18,850	R$ 73039	R$ 74202	R$ 67682
Additions	5,389	20,882	7,911	26,392
Disposals	(398)	(1,541)	(199)	(710)
Depreciation for the year	(3,147)	(12,196)	(8,528)	(17,289)
Tranfers	0	0
Net exchange differences arising from translation adjustments	(419)	(1,625)	(347)	(1,873)
Monetary correction gain, net	680	2,634
Impairment	(912)	(3,535)
Sale from Mexico operation	(303)	(1,169)
Ending balance	$ 19,740	76,489	73,039	74,202
Leasehold improvements [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance		36,464	34,753	33,463
Additions		185	358	10,903
Disposals		(726)		(180)
Depreciation for the year		(5,742)	(1,944)	(9,833)
Tranfers		215	3,340	602
Net exchange differences arising from translation adjustments		(157)	(43)	(202)
Monetary correction gain, net		366
Impairment		(366)
Sale from Mexico operation		0
Ending balance		30,239	36,464	34,753
Machinery and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance		12,612	13,799	13,596
Additions		243	207	2,569
Disposals		(75)		(76)
Depreciation for the year		(2,354)	(1,444)	(2,012)
Tranfers		18,733	131
Net exchange differences arising from translation adjustments		(322)	(81)	(278)
Monetary correction gain, net		493
Impairment		(681)
Sale from Mexico operation		(125)
Ending balance		28,524	12,612	13,799
Computer hardware [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance		12,220	13,946	10,259
Additions		1,308	2,018	7,403
Disposals		(499)	(23)	(220)
Depreciation for the year		(3,160)	(3,925)	(4,054)
Tranfers			206	673
Net exchange differences arising from translation adjustments		(70)	(2)	(115)
Monetary correction gain, net		52
Impairment		(166)
Sale from Mexico operation		(180)
Ending balance		9,505	12,220	13,946
Facilities [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance		4,668	4,774	5,932
Additions		772	543	758
Disposals		(39)	(7)	(39)
Depreciation for the year		(422)	(657)	(725)
Tranfers		1,602	205
Net exchange differences arising from translation adjustments		(961)	(190)	(1,152)
Monetary correction gain, net		1,663
Impairment		(2,146)
Sale from Mexico operation		(769)
Ending balance		4,368	4,668	4,774
Furniture and fixture [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance		4,165	3,282	2,995
Additions		632	701	1,218
Disposals		(202)	(17)	(194)
Depreciation for the year		(491)	(524)	(629)
Tranfers		14	755	11
Net exchange differences arising from translation adjustments		(115)	(32)	(119)
Monetary correction gain, net		61
Impairment		(176)
Sale from Mexico operation		(95)
Ending balance		3,793	4,165	3,282
Vehicles [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance		78	263	150
Additions				157
Disposals		0	(152)	(1)
Depreciation for the year		(27)	(34)	(36)
Tranfers		0
Net exchange differences arising from translation adjustments		0	1	(7)
Monetary correction gain, net		(1)
Impairment		0
Sale from Mexico operation		0
Ending balance		50	78	263
Construction in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance		2,832	3,385	1,287
Additions		17,742	4,084	3,384
Disposals		0
Depreciation for the year		0
Tranfers		(20,564)	(4,637)	(1,286)
Net exchange differences arising from translation adjustments		0
Monetary correction gain, net		0
Impairment		0
Sale from Mexico operation		0
Ending balance		R$ 10	R$ 2832	R$ 3385

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Detail) R$ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)
Disclosure of detailed information about property, plant and equipment [abstract]
Properties granted as collateral	$ 0	R$ 0	R$ 4547

Intangible assets, Net - Summar

Intangible assets, Net - Summary of Intangible Assets, Estimated Useful Life (Detail)	12 Months Ended
	Dec. 31, 2018
Purchased software [member]
Disclosure of detailed information about intangible assets [line items]
Useful Life (years)	5 years
Internally developed software [member]
Disclosure of detailed information about intangible assets [line items]
Useful Life (years)	5 years
Trademark [member]
Disclosure of detailed information about intangible assets [line items]
Useful Life (years)	Indefinite

Intangible Assets, Net - Summ_2

Intangible Assets, Net - Summary of Intangible Assets, Movement for the Period (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)	Dec. 31, 2018BRL (R$)
Disclosure of detailed information about intangible assets [line items]
Beginning balance	$ 29,897	R$ 115839	R$ 87593	R$ 52659
Additions	18,813	72,897	51,053	50,221
Disposals	(575)	(2,227)		(187)
Amortization for the year	(11,648)	(45,132)	(23,292)	(13,911)
Tranfers	0	0
Net exchange differences arising from translation adjustments	521	2,020	485	(1,189)
Monetary correction gain, net	3	10
Impairment	(12)				R$ 48
Sale from Mexico operation	(11)	(42)
Ending balance	$ 36,987	143,317	115,839	87,593
Software purchased [member]
Disclosure of detailed information about intangible assets [line items]
Beginning balance		14,474	14,471	18,219
Additions		11,546	4,850	1,738
Disposals		(1,142)
Amortization for the year		(8,694)	(6,320)	(5,777)
Tranfers		0	1,475	316
Net exchange differences arising from translation adjustments		(16)	(2)	(25)
Monetary correction gain, net		10
Impairment					(48)
Sale from Mexico operation		(42)
Ending balance		16,088	14,474	14,471
Software developed [member]
Disclosure of detailed information about intangible assets [line items]
Beginning balance		60,555	38,560	26,794
Additions		2,231	10,641	15,722
Disposals		0		(187)
Amortization for the year		(36,438)	(16,972)	(8,134)
Tranfers		72,970	27,852	5,529
Net exchange differences arising from translation adjustments		1,951	474	(1,164)
Monetary correction gain, net		0
Impairment					0
Sale from Mexico operation		0
Ending balance		101,269	60,555	38,560
Software under development [member]
Disclosure of detailed information about intangible assets [line items]
Beginning balance		26,250	20,002	7,087
Additions		59,119	35,562	18,760
Disposals		(1,085)
Amortization for the year		0
Tranfers		(72,970)	(29,327)	(5,845)
Net exchange differences arising from translation adjustments		85	13
Monetary correction gain, net		0
Impairment					0
Sale from Mexico operation		0
Ending balance		11,399	26,250	20,002
Trademark [member]
Disclosure of detailed information about intangible assets [line items]
Beginning balance		14,001	14,001
Additions		0		14,001
Disposals		0
Amortization for the year		0
Tranfers		0
Net exchange differences arising from translation adjustments		0
Monetary correction gain, net		0
Impairment					0
Sale from Mexico operation		0
Ending balance		14,001	14,001	14,001
Other [member]
Disclosure of detailed information about intangible assets [line items]
Beginning balance		559	559	559
Additions		1
Disposals		0
Amortization for the year		0
Tranfers		0
Net exchange differences arising from translation adjustments		0
Monetary correction gain, net		0
Impairment					R$ 0
Sale from Mexico operation		0
Ending balance		R$ 560	R$ 559	R$ 559

Intangible Assets, Net - Additi

Intangible Assets, Net - Additional Information (Detail) - Software developed [member] R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)
Disclosure of detailed information about intangible assets [line items]
Capitalized borrowing costs related to Software in development	$ 274	R$ 1060
Borrowing costs, capitalization percentage	3.00%	3.00%

Trade Accounts Payable - Schedu

Trade Accounts Payable - Schedule of Trade Accounts Payable (Detail) R$ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)
Disclosure of trade payables [Line Items]
Trade accounts payable	$ 87,003	R$ 337120	R$ 365835
Denominated in local currency [member]
Disclosure of trade payables [Line Items]
Trade accounts payable	85,593	331,656	339,634
Denominated in other currencies [member]
Disclosure of trade payables [Line Items]
Trade accounts payable	$ 1,410	R$ 5464	R$ 26201

Reverse Factoring - Schedule of

Reverse Factoring - Schedule of Reverse Factoring (Detail) R$ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)
Disclosure of reverse factoring [line items]
Total reverse factoring	$ 11,685	R$ 45276	R$ 148928
Trade accounts payable [member]
Disclosure of reverse factoring [line items]
Total reverse factoring	8,189	31,731	126,755
Other financial liabilities [member]
Disclosure of reverse factoring [line items]
Total reverse factoring	$ 3,496	R$ 13545	R$ 22173

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Detail) R$ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)
Disclosure of accrued expenses [abstract]
Selling and marketing services	$ 19,080	R$ 73932	R$ 76228
Provision for sales with a right of return	981	3,803
Freight	4,475	17,340	11,087
Gift card	1,993	7,722	7,191
Information technology	1,574	6,099	3,460
Acquisition of fixed assets and intangible	563	2,182	1,710
Rentals	1,091	4,226	2,987
Services	2,887	11,188	4,047
Employees benefits	542	2,099	3,566
Other	2,099	8,130	10,090
Total accrued expenses	$ 35,285	R$ 136721	R$ 120366

Debt - Summary of Detailed Info

Debt - Summary of Detailed Information about Borrowings, Carrying Value of Company's Outstanding Debt (Detail) R$ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)
Disclosure of detailed information about borrowings [line items]
Long-term debt	$ 59,069	R$ 228879	R$ 285971
Current portion of long-term debt	9,929	38,473	106,577
Long-term debt, net of current portion	49,140	190,406	179,394
Secured borrowings [member]
Disclosure of detailed information about borrowings [line items]
Long-term debt	42,464	164,539	201,769
Nonconvertible notes - (Debentures) [member]
Disclosure of detailed information about borrowings [line items]
Long-term debt	$ 16,605	R$ 64340	R$ 84202

Debt - Summary of Detailed In_2

Debt - Summary of Detailed Information about Borrowings, Terms and Conditions for Loans and Borrowings (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)
Disclosure of detailed information about borrowings [line items]
Long-term debt	$ 59,069	R$ 228879	R$ 285971
5.50% Secured borrowing - FINAME/BNDES [member]
Disclosure of detailed information about borrowings [line items]
Currency	R$
Nominal interest rate p.a.	5.50%	5.50%
Years of maturity	2018
Long-term debt	$ 0	R$ 0	200
3.0% Secured borrowing - FINAME/BNDES [member]
Disclosure of detailed information about borrowings [line items]
Currency	R$
Nominal interest rate p.a.	3.00%	3.00%
Years of maturity	2018
Long-term debt	$ 0	R$ 0	338
138.5% of CDI secured borrowing - working Capital [member]
Disclosure of detailed information about borrowings [line items]
Currency	R$
Borrowings, interest rate basis	138.5% of CDI
Borrowings, adjustment to interest rate basis	138.50%	138.50%
Years of maturity	2021
Long-term debt	$ 24,229	R$ 93881	115,783
100% of CDI +3.6% secured borrowing - working Capital [member]
Disclosure of detailed information about borrowings [line items]
Currency	R$
Borrowings, interest rate basis	100% of CDI + 3.6%
Nominal interest rate p.a.	3.60%	3.60%
Borrowings, adjustment to interest rate basis	100.00%	100.00%
Years of maturity	2021
Long-term debt	$ 11,701	R$ 45338	56,811
TJLP +3% Secured borrowing - working Capital [member]
Disclosure of detailed information about borrowings [line items]
Currency	R$
Borrowings, interest rate basis	TJLP +3%
Nominal interest rate p.a.	3.00%	3.00%
Years of maturity	2026
Long-term debt	$ 6,586	R$ 25520	26,188
100% of CDI + 3.2% nonconvertible notes - debentures [member]
Disclosure of detailed information about borrowings [line items]
Currency	R$
Borrowings, interest rate basis	100% of CDI + 3.2%
Nominal interest rate p.a.	3.20%	3.20%
Borrowings, adjustment to interest rate basis	100.00%	100.00%
Years of maturity	2021
Long-term debt	$ 16,553	R$ 64140	84,202
TIIE + 1.6% Bank loan 2 [member]
Disclosure of detailed information about borrowings [line items]
Currency	MXN
Borrowings, interest rate basis	TIIE + 1.6%
Nominal interest rate p.a.	1.60%	1.60%
Long-term debt	$ 0	R$ 0	R$ 2449

Debt - Additional Information (

Debt - Additional Information (Detail) R$ in Thousands, $ in Thousands	1 Months Ended			12 Months Ended
	Aug. 31, 2018BRL (R$)	Jul. 31, 2018BRL (R$)	Oct. 31, 2017BRL (R$)	Dec. 31, 2018BRL (R$)Installments	Dec. 31, 2017BRL (R$)	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Jul. 03, 2017BRL (R$)
Disclosure of detailed information about borrowings [line items]
Trade accounts receivables					R$ 113168	$ 42,275	R$ 163807
Long-term debt					R$ 285971	59,069	228,879
Borrowings fees				R$ 1682
Debt, weighted average interest rate				9.55%	9.87%
FINEP [member]
Disclosure of detailed information about borrowings [line items]
Financing grace period				24 months
Long-term debt								R$ 79667
Number of installments | Installments				85
First tranche of borrowing received			R$ 25800
Nonconvertible notes - (Debentures) [member]
Disclosure of detailed information about borrowings [line items]
Long-term debt					R$ 84202	16,605	64,340
NS2 Com Internet Ltda [member] | Credit card operations [member]
Disclosure of detailed information about borrowings [line items]
Trade accounts receivables					R$ 87418	$ 20,703	R$ 80220
NS2 Com Internet Ltda [member] | Banco do Brasil S.A. [member]
Disclosure of detailed information about borrowings [line items]
Aggregate principal amount		R$ 96200
Borrowings, interest rate basis		Principal and interest on the loan are payable on a monthly basis, and the maturity, after renegotiation, changed from August 2020 to July 2021, with a 12-monthgrace-period (only principal), and the Company paid a debt renegotiation fee over the renegotiated value.
Borrowings, maturity date		Jul. 31, 2021
Financing grace period		12 months
NS2 Com Internet Ltda [member] | Banco Bradesco S.A. [member]
Disclosure of detailed information about borrowings [line items]
Aggregate principal amount		R$ 46100
Borrowings, interest rate basis		Principal and interest on the loan are payable on a monthly basis, and the maturity, after renegotiation, changed from September 2020 to July 2021, with a 12-month grace-period (only principal), and the Company paid a debt renegotiation fee over the renegotiated value.
Borrowings, maturity date		Jul. 31, 2021
Financing grace period		12 months
NS2 Com Internet Ltda [member] | Nonconvertible notes - (Debentures) [member]
Disclosure of detailed information about borrowings [line items]
Aggregate principal amount	R$ 66100
Borrowings, interest rate basis	Principal and interest on the loan are payable on a quarterly basis, and the maturity, after renegotiation, changed from March 2020 to September 2021, with a 12-monthgrace-period (only principal), and the Company paid a debt renegotiation fee over the renegotiated value.
Borrowings, maturity date	Sep. 30, 2021

Debt - Schedule of Financial Co

Debt - Schedule of Financial Covenants (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2017BRL (R$)	Dec. 31, 2018BRL (R$)
Disclosure of detailed information about financial covenants [line items]
Credit card operations-Gross	$ 47,733	R$ 134039	R$ 184954
Long-term debt	$ 59,069	R$ 285971	228,879
Coefficient ratio (lower or equal to 3)	1.44%	2.50%
Credit card operations [member]
Disclosure of detailed information about financial covenants [line items]
Credit card operations-Gross	$ 41,040	R$ 114218	R$ 159023

Debt - Reconciliation of Moveme

Debt - Reconciliation of Movements of Assets, Liabilities and Equity to Cash Flows Arising From Financing Activities (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)
Reconciliation of movements of assets, liabilities and equity to cash flows arising from financing activities [line items]
Beginning Balance		R$ 984542
Proceeds from debt	$ 0	0	R$ 134152	R$ 137325
Changes from financing cash flows
Payments of debt	(14,721)	(57,040)	(141,788)	(79,004)
Payments of interest	(16,230)	(62,889)	(108,429)	(105,234)
Payments of debt	(14,721)	(57,040)	(141,788)	(79,004)
Payments of interest	(16,230)	(62,889)	(108,429)	(105,234)
Proceeds from issuance of common shares	0	0	423,166
Other changes
Effect of changes in foreign exchange rates	1,198	4,644	6,869	(5,083)
Ending balance	204,822	793,640	984,542
Long term debt [member]
Reconciliation of movements of assets, liabilities and equity to cash flows arising from financing activities [line items]
Beginning Balance	73,803	285,971	387,382
Proceeds from debt			159,984
Changes from financing cash flows
Payments of debt	(14,721)	(57,040)	(170,459)
Payments of interest	(5,950)	(23,056)	(46,613)
Total from financing cash flows	(20,671)	(80,095)	(57,088)
Payments of debt	(14,721)	(57,040)	(170,459)
Payments of interest	(5,950)	(23,056)	(46,613)
Proceeds from issuance of common shares			0
Total from financing cash flows	(20,671)	(80,095)	(57,088)
Other changes
Adjustments to reconcile net loss to net cash used in operating activities	6,569	25,453	50,277
Changes in discontinued operations	(632)	(2,450)
Changes in operating assets and liabilities	0	0
Non-cash investing and financing activities			(94,151)
Effect of changes in foreign exchange rates			(449)
Total from other changes	5,936	23,003	(44,323)
Ending balance	59,069	228,879	285,971	387,382
Reverse factoring [member]
Reconciliation of movements of assets, liabilities and equity to cash flows arising from financing activities [line items]
Beginning Balance	38,435	148,928	27,867
Changes from financing cash flows
Payments of debt	0	0
Payments of interest	461	1,788	(916)
Total from financing cash flows	461	1,788	(916)
Payments of debt	0	0
Payments of interest	461	1,788	(916)
Proceeds from issuance of common shares			0
Total from financing cash flows	461	1,788	(916)
Other changes
Adjustments to reconcile net loss to net cash used in operating activities	(462)	(1,789)	916
Changes in discontinued operations	0	0
Changes in operating assets and liabilities	(26,750)	(103,652)	121,061
Total from other changes	(27,212)	(105,440)	121,977
Ending balance	11,685	45,276	148,928	27,867
Trade accounts payable [member]
Reconciliation of movements of assets, liabilities and equity to cash flows arising from financing activities [line items]
Beginning Balance	94,414	365,835	335,430
Changes from financing cash flows
Payments of debt	0	0
Payments of interest	(8,953)	(34,690)	(55,936)
Total from financing cash flows	(8,953)	(34,690)	(55,936)
Payments of debt	0	0
Payments of interest	(8,953)	(34,690)	(55,936)
Proceeds from issuance of common shares			0
Total from financing cash flows	(8,953)	(34,690)	(55,936)
Other changes
Adjustments to reconcile net loss to net cash used in operating activities	8,317	32,227	53,981
Changes in discontinued operations	(6,389)	(24,755)
Changes in operating assets and liabilities	(386)	(1,497)	34,290
Effect of changes in foreign exchange rates			(1,930)
Total from other changes	1,542	5,975	86,341
Ending balance	87,003	337,120	365,835	335,430
Trade accounts receivables [member]
Reconciliation of movements of assets, liabilities and equity to cash flows arising from financing activities [line items]
Beginning Balance	29,206	113,168	213,994
Changes from financing cash flows
Payments of debt	0	0
Payments of interest	(1,789)	(6,931)	(7,166)
Total from financing cash flows	(1,789)	(6,931)	(7,166)
Payments of debt	0	0
Payments of interest	(1,789)	(6,931)	(7,166)
Proceeds from issuance of common shares			0
Total from financing cash flows	(1,789)	(6,931)	(7,166)
Other changes
Adjustments to reconcile net loss to net cash used in operating activities	(2,155)	(8,350)	(18,277)
Changes in discontinued operations	(353)	(1,369)
Changes in operating assets and liabilities	17,366	67,290	(74,450)
Cash flows from investing activities			(2,071)
Effect of changes in foreign exchange rates			1,138
Total from other changes	14,858	57,570	(93,660)
Ending balance	$ 42,275	R$ 163807	R$ 113168	R$ 213994

Financial Instruments - Fair _3

Financial Instruments - Fair Value and Risk Management - Summary of Carrying Amounts and Fair Values of Financial Assets and Financial Liabilities, Including Levels in Fair Value Hierarchy (Detail) R$ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017USD ($)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)	Dec. 31, 2015BRL (R$)
Financial assets or liabilities, not measured at fair value
Cash and cash equivalents	$ 17,374	R$ 67321	$ 102,189	R$ 395962	R$ 111305	R$ 249064
Restricted cash, current and non-current portion	5,556	21,529		34,445
Trade accounts receivables	42,275	163,807		113,168
Due from related parties	2	7		12
Judicial deposits	30,896	119,717		106,914
Other assets, current and non-current portion	3,656	14,166		22,246
Trade accounts payable	(87,003)	(337,120)		(365,835)
Reverse factoring	(11,685)	(45,276)		(148,928)
Long-term debt	(59,069)	(228,879)		(285,971)
Accrued expenses	(35,285)	(136,721)		(120,366)
Other current liabilities	(6,635)	(25,711)		(31,017)
Other liabilities, current and non-current portion	(6,636)	(25,711)
Total	$ (99,917)	(387,160)		(279,370)
Carrying amount [member] | Financial liabilities at amortised cost, category [member]
Financial assets or liabilities, not measured at fair value
Cash and cash equivalents		0
Restricted cash, current and non-current portion		0
Trade accounts receivables		0
Due from related parties		0
Judicial deposits		0
Other assets, current and non-current portion		0
Trade accounts payable		(337,120)		(365,835)
Reverse factoring		(45,276)		(148,928)
Long-term debt		(228,879)		(285,971)
Accrued expenses		(136,721)		(120,366)
Other current liabilities				(31,017)
Other liabilities, current and non-current portion		(25,711)
Total		(773,707)		(952,117)
Carrying amount [member] | Financial assets at amortised cost, category [member]
Financial assets or liabilities, not measured at fair value
Cash and cash equivalents		67,321		395,962
Restricted cash, current and non-current portion		21,529		34,445
Trade accounts receivables		163,807		113,168
Due from related parties		7		12
Judicial deposits		119,717		106,914
Other assets, current and non-current portion		14,166		22,246
Trade accounts payable		0
Reverse factoring		0
Long-term debt		0
Accrued expenses		0
Other liabilities, current and non-current portion		0
Total		386,547		R$ 672747
Carrying amount [member] | Fair value [member]
Financial assets or liabilities, not measured at fair value
Cash and cash equivalents		0
Restricted cash, current and non-current portion		0
Trade accounts receivables		0
Due from related parties		0
Judicial deposits		0
Other assets, current and non-current portion		0
Trade accounts payable		0
Reverse factoring		0
Long-term debt		0
Accrued expenses		0
Other liabilities, current and non-current portion		0
Total		R$ 0

Financial Instruments - Fair _4

Financial Instruments - Fair Value and Risk Management - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)	Dec. 31, 2018BRL (R$)
Disclosure of detailed information about financial instruments [line items]
Trade receivables	$ 42,275,000		R$ 113168000		R$ 163807000
Accumulated losses	304,135,000		847,125,000		1,178,464,000
Net loss	85,778,000	R$ 332374000	170,345,000	R$ 151896000
Net cash provided by (used in) continuing operating activities	(25,990,000)	(100,707,000)	43,502,000	(7,778,000)
Current assets (liabilities)			317,228,000		23,681,000
Restricted cash and cash equivalents	5,556,000		34,445,000		21,529,000
Tax credits	0		10,118,000	R$ 5500000	0
Other assets non-current [member] | Midway Labs USA LLC [member]
Disclosure of detailed information about financial instruments [line items]
Trade receivables	7,069		R$ 24381		R$ 27390
Expected loss on trading	$ 3,413	R$ 13225
Short Term Investments [member] | Floating interest rate [member]
Disclosure of detailed information about financial instruments [line items]
Increase (decrease) financial income on borrowing, threshold percentage	0.50%	0.50%
Increase (decrease) financial income on borrowing	$ 119,000,000	R$ 393000000
Trade accounts receivable [member] | Bottom of range [member]
Disclosure of detailed information about financial instruments [line items]
Concentration risk percentage	10.00%		10.00%		10.00%
Collateral [member]
Disclosure of detailed information about financial instruments [line items]
Restricted cash and cash equivalents					R$ 88760000
Judicial deposits [member]
Disclosure of detailed information about financial instruments [line items]
Tax credits					R$ 101971000
Interest rate risk [member] | Floating interest rate [member]
Disclosure of detailed information about financial instruments [line items]
Increase (decrease) financial expense on borrowing, threshold percentage	0.50%	0.50%
Increase (decrease) financial expense on borrowing	$ 369,000	R$ 1222000

Financial Instruments - Fair _5

Financial Instruments - Fair Value and Risk Management - Summary of Maximum Exposure to Credit Risk for Trade Accounts Receivable by Type of Counterparty (Detail) R$ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)
Disclosure of credit risk exposure [line items]
Total trade accounts receivable	$ 47,733	R$ 184954	R$ 134039
Allowance for doubtful accounts	(5,458)	(21,147)	(20,871)
Trade accounts receivable, net	42,275	163,807	113,168
Credit risk [member]
Disclosure of credit risk exposure [line items]
Total trade accounts receivable	47,733	184,954	134,039
Allowance for doubtful accounts	(5,458)	(21,147)	(20,871)
Trade accounts receivable, net	42,275	163,807	113,168
Credit card operations [member]
Disclosure of credit risk exposure [line items]
Total trade accounts receivable	41,040	159,023	114,218
Credit card operations [member] | Credit risk [member]
Disclosure of credit risk exposure [line items]
Total trade accounts receivable	36,316	140,719	87,983
BToB Customers and others [member] | Credit risk [member]
Disclosure of credit risk exposure [line items]
Total trade accounts receivable	$ 11,417	R$ 44235	R$ 46056

Financial Instruments - Fair _6

Financial Instruments - Fair Value and Risk Management - Summary of Trade Accounts Receivable (Detail) R$ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)
Disclosure of financial assets that are either past due or impaired [line items]
Gross amount	$ 47,733	R$ 184954	R$ 134039
Trade accounts receivable, net	42,275	163,807	113,168
Credit risk [member]
Disclosure of financial assets that are either past due or impaired [line items]
Gross amount	47,733	184,954	134,039
Allowance for doubtful accounts		(21,147)	(20,871)
Trade accounts receivable, net	42,275	163,807	113,168
Credit risk [member] | Financial assets neither past due nor impaired [member]
Disclosure of financial assets that are either past due or impaired [line items]
Gross amount		163,924	109,135
Allowance for doubtful accounts		(4,525)	(8,199)
Trade accounts receivable, net	41,137	159,399	100,936
Credit risk [member] | Past due 1-30 days [member]
Disclosure of financial assets that are either past due or impaired [line items]
Gross amount		1,034	5,449
Allowance for doubtful accounts		(159)	(2,134)
Trade accounts receivable, net	226	875	3,315
Credit risk [member] | Past due 31-90 days [member]
Disclosure of financial assets that are either past due or impaired [line items]
Gross amount		2,461	5,304
Allowance for doubtful accounts		(731)	(3,686)
Trade accounts receivable, net	446	1,730	1,618
Credit risk [member] | Past due 91-120 days [member]
Disclosure of financial assets that are either past due or impaired [line items]
Gross amount		1,784	3,551
Allowance for doubtful accounts		(247)	(1,845)
Trade accounts receivable, net	397	1,537	1,706
Credit risk [member] | Past due 120-180 days [member]
Disclosure of financial assets that are either past due or impaired [line items]
Gross amount		2,183	4,278
Allowance for doubtful accounts		(1,928)	(3,108)
Trade accounts receivable, net	66	255	1,170
Credit risk [member] | Past due over 180 days [member]
Disclosure of financial assets that are either past due or impaired [line items]
Gross amount		13,568	6,322
Allowance for doubtful accounts		(13,557)	(1,899)
Trade accounts receivable, net	$ 3	R$ 11	R$ 4423

Financial Instruments - Fair _7

Financial Instruments - Fair Value and Risk Management - Summary of Remaining Contractual Maturities of Financial Liabilities (Detail) R$ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Financial liabilities	$ 204,822	R$ 793640	R$ 984542
Up to one year [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		606,983	805,732
1-3 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		191,630	175,141
3-5 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		7,120	9,634
More than 5 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		26,101	23,108
Long term debt [member] | Up to one year [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		59,264
Long term debt [member] | 1-3 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		191,630
Long term debt [member] | 3-5 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		7,120
Long term debt [member] | More than 5 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		6,166
Trade accounts payable [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Financial liabilities	87,003	337,120	365,835
Trade accounts payable [member] | Up to one year [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		339,660	369,493
Trade accounts payable [member] | 1-3 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		0
Trade accounts payable [member] | 3-5 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		0
Trade accounts payable [member] | More than 5 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		0
Reverse factoring [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Financial liabilities	11,685	45,276	148,928
Reverse factoring [member] | Up to one year [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		45,629	150,625
Reverse factoring [member] | 1-3 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		0
Reverse factoring [member] | 3-5 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		0
Reverse factoring [member] | More than 5 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		0
Accrued expenses [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Financial liabilities	35,285	136,721	120,366
Accrued expenses [member] | Up to one year [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		136,721	120,366
Accrued expenses [member] | 1-3 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		0
Accrued expenses [member] | 3-5 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		0
Accrued expenses [member] | More than 5 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		0
Other Current Liabilities [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Financial liabilities	6,635	25,709	31,017
Other Current Liabilities [member] | Up to one year [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		25,709	31,017
Other Current Liabilities [member] | 1-3 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		0
Other Current Liabilities [member] | 3-5 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		0
Other Current Liabilities [member] | More than 5 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		0
Provision for labor, civil and tax risks [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Financial liabilities	5,145	19,935	12,523
Provision for labor, civil and tax risks [member] | Up to one year [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		0
Provision for labor, civil and tax risks [member] | 1-3 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		0
Provision for labor, civil and tax risks [member] | 3-5 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		0
Provision for labor, civil and tax risks [member] | More than 5 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows		19,935	12,523
Loans and financing [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Financial liabilities	$ 59,069	R$ 228879	285,971
Loans and financing [member] | Up to one year [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows			114,356
Loans and financing [member] | 1-3 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows			175,141
Loans and financing [member] | 3-5 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows			9,634
Loans and financing [member] | More than 5 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows			10,558
Taxes and contributions payable [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Financial liabilities			19,875
Taxes and contributions payable [member] | Up to one year [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows			19,875
Other non current liabilities [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Financial liabilities			27
Other non current liabilities [member] | More than 5 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Contractual cash flows			R$ 27

Financial Instruments - Fair _8

Financial Instruments - Fair Value and Risk Management - Summary of Company's Unrestricted Cash and Cash Equivalents and Unused Portion of Credit Facility (Detail) R$ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items]
Available liquidity	$ 17,374	R$ 67321	R$ 396309
Unrestricted cash and cash equivalents [member]
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items]
Available liquidity	17,374	67,321	395,962
Undrawn credit facility [member]
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items]
Available liquidity	$ 0	R$ 0	R$ 347

Financial Instruments - Fair _9

Financial Instruments - Fair Value and Risk Management - Summary of Quantitative Data About Company's Exposure to Currency Risk (Detail) R$ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017USD ($)	Dec. 31, 2017BRL (R$)
Disclosure of detailed information about financial instruments [line items]
Net statement of financial position exposure	$ 204,822	R$ 793640		R$ 984542
Currency risk [member]
Disclosure of detailed information about financial instruments [line items]
Other current assets	(2,462)	(9,540)
Trade accounts payable	1,410	5,463	$ 7,920	26,199
Accrued expenses	65	252	879	2,908
Net statement of financial position exposure	$ (987)	R$ 3824	$ 8,799	R$ 29107

Financial Instruments - Fair_10

Financial Instruments - Fair Value and Risk Management - Summary of Instantaneous Change in Company's Income or (Loss) Before Tax (Detail) - Currency risk [member] - BRL (R$) R$ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about financial instruments [line items]
Profit or loss Strengthening	R$ 382	R$ 2911
Profit or loss Weakening	R$ 382	R$ 2911

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of Income Tax Expense at Official Rate to Actual Income Tax Expense (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)
Disclosure of reconciliation of income tax expense at statutory rate to actual income tax expense [line items]
Loss before income tax	$ (82,996)	R$ 321593	R$ 154222	R$ 133157
Reconciliation of income tax expense	28,284	109,594	61,169	60,418
Non-deductible expenses	(5,496)	(21,294)	(24,789)	(20,001)
Unrecognized deferred tax benefits	(19,169)	(74,275)	(26,384)	(32,820)
Other	(3,671)	(14,227)	R$ 9996	R$ 7597
Income tax expense	$ (52)	R$ 202
Effective tax rate	0.06%	0.06%	0.00%	0.00%
Income tax expense	$ (52)	R$ 202
Weighted average [member]
Disclosure of reconciliation of income tax expense at statutory rate to actual income tax expense [line items]
Tax rate	34.08%	34.08%	39.66%	45.37%

Income Taxes - Unrecognized Def

Income Taxes - Unrecognized Deferred Income Tax Assets (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deferred income tax assets	$ 73,443	R$ 284578	R$ 247677
Deductible temporary differences [member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deferred income tax assets	18,945	73,407	52,139
Income tax loss carryforward [member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deferred income tax assets	$ 54,498	R$ 211171	R$ 195538

Income Taxes - Schedule of Tax

Income Taxes - Schedule of Tax Losses Carried Forward (Detail) - Dec. 31, 2018 - Argentina [member] R$ in Thousands, $ in Thousands	USD ($)	BRL (R$)
Disclosure of reconciliation of income tax expense at statutory rate to actual income tax expense [line items]
Tax losses carry forward	$ 4,584	R$ 17763
Up to one year [member]
Disclosure of reconciliation of income tax expense at statutory rate to actual income tax expense [line items]
Tax losses carry forward	526	2,037
2020 [member]
Disclosure of reconciliation of income tax expense at statutory rate to actual income tax expense [line items]
Tax losses carry forward	645	2,498
2021 [member]
Disclosure of reconciliation of income tax expense at statutory rate to actual income tax expense [line items]
Tax losses carry forward	770	2,982
2022 [member]
Disclosure of reconciliation of income tax expense at statutory rate to actual income tax expense [line items]
Tax losses carry forward	1,105	4,283
2023 [member]
Disclosure of reconciliation of income tax expense at statutory rate to actual income tax expense [line items]
Tax losses carry forward	$ 1,539	R$ 5964

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)
Top of range [member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Percentage of taxpayers taxable income	30.00%
Income tax loss carryforward [member] | Do not expire [member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax asset	$ 49,914	R$ 193408	R$ 142218

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2018BRL (R$)Voteshares	Dec. 31, 2016BRL (R$)shares	Dec. 31, 2018$ / shares	Dec. 31, 2017BRL (R$)shares	Dec. 31, 2017$ / shares
Disclosure Of Stockholders Equity [line items]
Number of vote per share | Vote	1
Dividend declared | R$	R$ 0	R$ 0		R$ 0
Repurchase of shares		7,320
Share capital [member]
Disclosure Of Stockholders Equity [line items]
Shares issued	31,557,785			31,557,785
Shares outstanding	31,557,785			31,557,785
Par value | $ / shares			$ 0.0033		$ 0.0033

Shareholders' Equity - Summary

Shareholders' Equity - Summary of Treasury Shares (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)shares	Dec. 31, 2018BRL (R$)shares	Dec. 31, 2017USD ($)shares	Dec. 31, 2017BRL (R$)shares	Dec. 31, 2016USD ($)shares	Dec. 31, 2016BRL (R$)shares
Disclosure of treasury shares [line items]
Number of Shares, Repurchased					7,320	7,320
Share Capital, Beginning balance | R$		R$ 1533
Share Capital, Repurchased | R$						R$ 608
Share Capital, Ending balance	$ 396	R$ 1533		R$ 1533
Treasury shares [member]
Disclosure of treasury shares [line items]
Number of Shares,Beginning balance	22,651	22,651	22,651	22,651	15,331	15,331
Number of Shares, Repurchased	0	0	0	0	7,320	7,320
Number of Shares, Ending balance	22,651	22,651	22,651	22,651	22,651	22,651
Share Capital, Beginning balance	$ 396	R$ 1533	$ 0	R$ 1533	$ 0	R$ 925
Share Capital, Repurchased	0	0	0		0	608
Share Capital, Ending balance	$ 396	R$ 1533	$ 396	R$ 1533	$ 0	R$ 1533

Share-based Payments - Addition

Share-based Payments - Additional Information (Detail) R$ in Thousands	Aug. 07, 2018	Aug. 06, 2018	Apr. 18, 2017USD ($)	Dec. 31, 2018USD ($)shares	Dec. 31, 2018BRL (R$)shares	Dec. 31, 2017USD ($)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)	Dec. 31, 2018BRL (R$)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Reverse stock split description			1.0 for 3.0 share split	1.0 for 3.0 share split	1.0 for 3.0 share split
Reverse stock split ratio			0.33	0.33	0.33
Description of share-base payments				The options under the Plan were granted at the discretion of the Board; as such, the Board has full authority to establish terms and conditions of any award consistent with the provisions of the Plan and to waive any such terms and conditions at any time. The Plan was set up for the following purposes (i) attracting, retaining and motivating its beneficiaries; (ii) adding value to quote-holders; and (iii) encouraging the view of entrepreneurs of the business.	The options under the Plan were granted at the discretion of the Board; as such, the Board has full authority to establish terms and conditions of any award consistent with the provisions of the Plan and to waive any such terms and conditions at any time. The Plan was set up for the following purposes (i) attracting, retaining and motivating its beneficiaries; (ii) adding value to quote-holders; and (iii) encouraging the view of entrepreneurs of the business.
Number of share options granted	1,296,470	956,470
Total non-current liabilities				$ (156,331,000)			R$ 796330		R$ 605751
Fair value per shares | $				$ 5.91		$ 18
Top of range [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Maximum number of share option to be granted | shares				1,296,470	1,296,470
Cash-settled arrangements [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of share options granted								110,250
Vesting period of cash-settled arrangements				4 years	4 years
Percentage of common shares subject award vesting percentage				25.00%	25.00%
Monthly installments in cash-settled arrangements				36 months	36 months
Increase in equity, capital Reserves | R$					R$ 13706
Total non-current liabilities | R$									R$ 13706
Unrecognized compensation cost				$ 537,000	R$ 2083		R$ 6707
Weighted average period				2 years 3 months 3 days	2 years 3 months 3 days
Equity-settled arrangements [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of share options granted				828,000	828,000	127,500	127,500	23,250
Fair value per shares | $			$ 18
Cash and equity settled share based payment arrangements [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Compensation expense (income)				$ 2,045,000	R$ 7923		R$ 13860	R$ 930

Share-based Payments - Summary

Share-based Payments - Summary of Option Activities under Plan and Changes, Cash-settled Arrangements (Detail)	Aug. 07, 2018	Aug. 06, 2018	Dec. 31, 2017USD ($)yr	Dec. 31, 2016USD ($)yr	Dec. 31, 2015yr
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of Units, Granted	1,296,470	956,470
Cash-settled arrangements [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of Units, Beginning balance			346,767	273,147
Number of Units, Granted				110,250
Number of Units, Exercised				(20,022)
Number of Units, Forfeited, cancelled and expired			(73,710)	(16,608)
Number of units, Transfer from cash-settled arrangements			(273,057)
Number of Units, Ending balance				346,767
Weighted Average Exercise Price Per Unit, Beginning balance			$ 16.91	$ 19.28
Weighted average remaining contractual term | yr			0	1.3	1.1
Weighted Average Exercise Price Per Unit, Granted				$ 8.10
Weighted Average Exercise Price Per Unit, Exercised				8.10
Weighted Average Exercise Price Per Unit, Forfeited, cancelled and expired			$ 43.31	8.10
Weighted Average Exercise Price Per Unit,Transfer from cash-settled arrangements			$ (9.59)
Weighted Average Exercise Price Per Unit, Ending balance				$ 16.91

Share-based Payments - Summar_2

Share-based Payments - Summary of Option Activities under Plan and Changes, Equity-settled Arrangements (Detail)	Aug. 07, 2018	Aug. 06, 2018	Dec. 31, 2018USD ($)yr	Dec. 31, 2017USD ($)yr	Dec. 31, 2016USD ($)yr
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of Units, Granted	1,296,470	956,470
Equity-settled arrangements [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of Units, Beginning balance			369,620	23,250
Number of Units, Granted			828,000	127,500	23,250
Number of Units, Exercised			0	(30,308)
Number of Units, Forfeited, cancelled and expired			(239,436)	(23,879)
Number of units, Transfer from cash-settled arrangements				273,057
Number of Units, Ending balance			958,184	369,620	23,250
Weighted Average Exercise Price Per Unit, Beginning balance			$ 9.20	$ 8.10
Number of Units, Vested			296,351	381,282
Weighted Average Exercise Price Per Unit, Granted			$ 4.37	$ 8.10	$ 8.10
Weighted Average Exercise Price Per Unit, Exercised			0	8.10
Weighted Average Exercise Price Per Unit, Forfeited, cancelled and expired				8.10
Weighted Average Exercise Price Per Unit, Forfeited, cancelled and expired			9.91
Weighted Average Exercise Price Per Unit, Transfer from cash-settled arrangements				9.59
Weighted Average Exercise Price Per Unit, Ending balance			$ 4.85	$ 9.20	$ 8.10
Weighted average remaining contractual life | yr			2.26	0.70	0.80

Related party transactions - Su

Related party transactions - Summary of Related Party Transactions (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)	Dec. 31, 2016BRL (R$)	Dec. 31, 2018BRL (R$)
Related party transactions [abstract]
Receivables	$ 2		R$ 12		R$ 7
Key management personnel compensation
Compensation and short-term benefits	3,325	R$ 12882	19,699	R$ 9535
Share-based payments	390	151	4,652	677
Total	3,715	14,392	24,351	R$ 10212
Financial expenses
Convertible notes interest	$ 0	R$ 0	R$ 2069

Contingencies - Summary of Brea

Contingencies - Summary of Breakdown and Changes in Provisions Whose Unfavorable Outcome is Probable (Detail) R$ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)
Disclosure of other provisions [line items]
Beginning balance	$ 3,232	R$ 12523	R$ 5177
Additions, net of reversals	2,975	11,529	10,644
Payments	(1,062)	(4,117)	(3,298)
Ending balance	$ 5,145	19,935	12,523
Labor [member]
Disclosure of other provisions [line items]
Beginning balance		823	492
Additions, net of reversals		(135)	383
Payments		(190)	(52)
Ending balance		498	823
Civil [member]
Disclosure of other provisions [line items]
Beginning balance		1,023	1,230
Additions, net of reversals		5,550	3,039
Payments		(3,927)	(3,246)
Ending balance		2,646	1,023
VAT taxes Brazil (PIS and COFINS) [member]
Disclosure of other provisions [line items]
Beginning balance		10,677	3,455
Additions, net of reversals		6,114	7,222
Payments		0
Ending balance		R$ 16791	R$ 10677

Contingencies - Additional Info

Contingencies - Additional Information (Detail) - BRL (R$) R$ in Thousands	Dec. 31, 2018	Sep. 30, 2017
Brazilian tax authorities [member]
Disclosure of commitments and contingencies [line items]
Tax assessment amount	R$ 51853	R$ 89013

Contingencies - Summary of Judi

Contingencies - Summary of Judicial Deposits Amounts Accrue Interest (Detail) R$ in Thousands, $ in Thousands	Dec. 31, 2018USD ($)	Dec. 31, 2018BRL (R$)	Dec. 31, 2017BRL (R$)
Disclosure of contingent liabilities [line items]
Long term deposits	$ 30,896	R$ 119717	R$ 106914
VAT taxes Brazil (PIS and COFINS) [member]
Disclosure of contingent liabilities [line items]
Long term deposits	26,316	101,971	94,909
PIS and COFINS on financial income [member]
Disclosure of contingent liabilities [line items]
Long term deposits	857	3,319	2,558
Tax on manufactured products [member]
Disclosure of contingent liabilities [line items]
Long term deposits	3,246	12,576	7,489
Tax on manufactured products (IPI) [member]
Disclosure of contingent liabilities [line items]
Long term deposits	$ 477	R$ 1851	R$ 1958

Impairment of Long-Lived Asse_3

Impairment of Long-Lived Assets - Summary of Key Assumptions Used in Value in Use Calculations and Sensitivity to Changes in Assumptions (Detail)	12 Months Ended
	Dec. 31, 2018
Brazil CGU [member]
Disclosure of information for cash-generating units [line items]
Project period	5 years
CAGR	12.20%
Working capital	13.20%
Discount rate	14.50%
Shoestock CGU [member]
Disclosure of information for cash-generating units [line items]
Project period	Perpetual
CAGR	11.30%
Royalty	6.80%
Discount rate	14.50%

Impairment of Long-Lived Asse_4

Impairment of Long-Lived Assets - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of information for cash-generating units [abstract]
Description of sensitivity analysis of discount rate	The sensitivity analysis involved adjusting the discount rate by +/- 50 basis points.
Impairment loss	$ 0	$ 0	$ 0