The growth of e-commerce in Brazil has increased the complexity of logistics operations and reinforced the centrality of last-mile logistics in serving the final customer. In this context, the final stage of delivery concentrates challenges related to lead time, convenience, reliability, capillarity, and distribution network design. This study aims to describe and comparatively analyze the last-mile logistics of two large retail companies operating in Brazilian e-commerce: Mercado Livre and Magazine Luiza. To this end, it adopts a qualitative approach based on literature review and document analysis of secondary data drawn from academic articles, corporate reports, and institutional and sectoral publications. First, the study discusses the main concepts related to e commerce, logistics structure, fulfillment, last-mile logistics, and channel integration. It then describes the logistics operations of the selected companies and develops a critical analysis of the cases. The findings indicate that last-mile logistics, in both cases, is not an isolated final stage, but the visible expression of upstream decisions regarding business model, inventory location, fulfillment, and channel integration. The study also finds that Mercado Livre organizes its operation around a digital architecture with growing logistics verticalization, whereas Magazine Luiza structures its operation according to an omnichannel logic, turning its store network into proximity-based logistics nodes. It concludes that, although distinct, both models respond coherently to different organizational trajectories and asset legacies, and that, in the Brazilian context, capillarity, flexibility, and technological integration play a decisive role in logistics performance.