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Amazon.com Enters The Fashion Industry

26 Feb

Amazon stock, amazon shares, amazon clothing brands,

Amazon stock, amazon shares, amazon clothing brands, amazon fashion, amazon retail, amazon clothes

The world’s largest retail giant Amazon.com has also decided to tap the clothing market as now it officially owns its own clothing line.

According to a report by Quartz, the retail giant rolled out over 1,800 fashion products under the over seven trademarked brand names. As per the report by WWD, the Seattle tech company has a variety of fashion clothes for men, women and children. The products have been launched under seven brands which include Lark and Ro, Society New York, North Eleven, Franklin & Freeman, Franklin Tailor and Scout + Ro.

This is not the first time, Amazon has tried to dip its toes in the fashion market; it has done so for over decades now but has not always been successful. However, it’s a first for the company to be making the clothing products itself – initially in 2012 it shut down one of its fashion site by the name of Endless.com which had shoes, bags, jewelry etc. This site had operated for more than five years but did not do much for the organization.

At this point, the retailer has not yet confirmed the launched of these in-house brands but the vice president of the fashion sector of the company, Jeff Yurcisin stated that when the company’s sees a gap in the market and other brands decided to not sell their products with us, the customer still wants that product and our job is to get it for them.

The aim of the organization is to provide its 300 million customers with those products that the businesses third party seller do not offer to the customers via amazon’s platform. Ever since 2006, the retailer has been trying to venture into the fashion market – at this time it acquired Shophop and later on it acquired My Habit and East Dance as well.

The clothing and accessory industry in the United States is worth as much as $250 billion; that is an opportunity that the e-commerce will not let go of that easily. As per Cowen and Company, Amazon could surpass the largest clothing retailer in the country; Macy’s and become the biggest seller in the U.S.

The clothing products in the website are mostly priced below $100 and have been on the website for the past few months. However, customers cannot tell that the products are made by amazon itself – as it just display’s the brand name.

An analyst stated that the organization is being quite strategic about this move and if amazon succeeds in this venture it would be quite disruptive for the industry as a whole.

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Posted by on February 26, 2016 in Amazon, Finance News

 

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