Seattle-based e-commerce giant sees high-fashion retail as its next holy grail.
Without a doubt, Amazon.com, Inc. (NASDAQ:AMZN) is king when it comes to selling goods online. From the latest gadgets to grocery items, you can find just about anything when you use their website. As of recent news, the e-commerce magnate is reportedly planning to extend their horizons to the world of high-fashion. Will this work"
According to a report from Engadget, Amazon has been eyeing on the fashion industry for quite some time now. Their efforts to do so were made obvious when they launched seven in-house brands in February. They introduced fashion brands like James & Erin, Lao & Ro, Franklin & Freeman, Franklin Tailored, Society New York, and North Eleven and Scout + Ro. These designs ? considered to be more affordable ? offer around 2,000 clothing pieces for men, women, and kids. It only makes sense for Amazon to take advantage of this in-demand industry especially when they have more than 300 million active users where roughly 63 million are subscribed to Amazon Prime.
But Amazon?s goal is more ambitious. While Jeff Bezos? company isn?t new to selling clothes, it sees high-fashion retail as its next holy grail. Their $15 million advertising campaign earlier this month seems to be an attempt to transform themselves as an online destination for high-fashion brands. Engadget?s Edgar Alvarez said it best: the online retailer ?wants to be the place where you can have a $12...