In fashion push, Amazon ropes in designer brands
E-commerce giant Amazon has strengthened its position as one of the largest online clothing retailers in the country by signing up more premium brands.business Updated: Dec 29, 2016 11:43 IST
E-commerce giant Amazon has strengthened its position as one of the largest online clothing retailers in the country by signing up more premium brands.
From Emporio Armani to TarunTahiliani, you will find it all on Amazon at competitive prices.
In 2016, Amazon Fashion doubled its selection by adding 150 fashion brands, including Armani Exchange, Versus by Versace, Payal Pratap, and Monisha Jaising.
It also launched five premium watch brands – Invicta, Stuhrling, August Steiner, Burgi, and Akribos XXIV. Watches contribute to 15% of the overall Amazon Fashion business. The premium watches business doubled year-on-year in October this year.
This year, the firm aggressively negotiated with top fashion brands that had strong fashion equity in the market and were high on aspirational value, said Arun Sirdeshmukh, business head, Amazon Fashion.
Amazon claims its fashion segment attracted nearly 30% of all new customers on Amazon India platform.
Sirdeshmukh further said their aim was to make Amazon Fashion the country’s top online store. With a third of its customers buying from its online fashion store as of November 2016, Amazon India is focusing on the category.
These additions might help Amazon get a larger market share compared to its counterparts.
Arvind Singhal, chairman, Technopak Advisors, said, “In the fashion category, the Flipkart portfolio of portals (Flipkart, Myntra, and Jabong) have a dominant share of over 75%.”