Amazon Is Preparing to Launch a Luxury Fashion Platform
Reported to go live in September.
Amazon is set to launch its own luxury fashion platform next month, with various ready-to-wear and accessories labels due to take part. According to reports in WWD, the business model will see the various designers and brands operate their own concessions on the site, which is expected to launch in September alongside international fashion weeks.
The Jeff Bezos-led company will allow the participating labels to have complete control over their concessions, including how it looks, which pieces are marked down and how much they would like to sell. This independence will be combined with Amazon’s distribution and storage infrastructure. It is believed that a dozen labels will take part in the platform when it launches, although details on the participants are yet to be announced.
The luxury fashion platform had been reported to be launching in the Spring of this year, although its opening was pushed back by COVID-19 and resulting lockdown measures around the world. The delayed launch is Amazon’s latest move into the fashion world, which has also included a long running sponsorship of Tokyo Fashion Week that ended in 2019.
In related news, Amazon founder Jeff Bezos recently became the first person to be worth $200 billion USD.