Online retailer Amazon is planning to launch its own line of fashion apparel to cater to customers seeking low prices.
At the WWD Apparel and Retail CEO Summit, Amazon Fashion vice president of clothing and Amazon’s Shopbop unit CEO Jeff Yurcisin was quoted by Buzzfeed.com as saying: “For Amazon, we know our customers love brands, many of the brands in this room…and that’s where the lion’s share of our business comes from. “When we see gaps, when certain brands have actually decided for their own reasons not to sell with us, our customer still wants a product like that.”
All this while, Amazon Fashion’s efforts have been focused on convincing clothing brands to sell their goods on its website for low prices and with improved presentation.
Amazon has considered food and apparel as two segments where it aims to tap opportunities in coming years. In late, it was reported that the firm intends to launch several private-label grocery products.
Last week, the online retailer had announced that it was hiring 100,000 seasonal workers to ramp up services for holiday shopping.
This number is a 25% increase from last year’s 80,000 during the holiday season.
Other retailers such as Walmart, Target, and Kohl’s are adding around the same number of short term employees as they did last year during the same period. However, Macy’s, J.C. Penney, and Toys R Us, are going slow on hiring than they did last year, reported The Wall Street Journal.
Earlier this month, Amazon had pumped Rs.12.37bn ($189m) into Amazon Seller Services in India, marking the online retailer’s biggest capital injection into its Indian flagship unit since 2013 when it entered the Indian shores.
Article published in Retail Business Review on Oct. 29, 2015
