Monday, December 3, 2012

Amazon.com, Inc. (NASDAQ:AMZN) gets into fashion retailing

Online retailer Amazon.com, Inc.(NASDAQ:AMZN)  is going premium. The company is launching an online high-end fashion store with the intention of challenging Net-A-Porter and Asos.

The launch will be made today, which is the busiest online shopping day of the year and is commonly dubbed 'Mega Monday".

It may be recalled that the Sunday Telegraph had reported in October that the company had considered making a bid to acquire Asos.

Amazon is obviously trying to diversify its portfolio and attempting to find that same success with fashion that it has found in books and technology.

The new fashion store, located at amazon.co.uk/premium, has signed up brands including 7 For All Mankind, Pringle, and Black Orchid.

 "More and more customers are discovering the benefits of shopping for clothing online and we are rapidly expanding our fashion offering with a raft of aspirational brands and on-trend products, Christopher North, managing director of Amazon.co.uk, said.

"The new premium store is a prime example of that, giving customers a dedicated destination for top designer brands like 7 For All Mankind, Pringle, and Hudson," he added.

Mega Monday has been traditionally a big day for online retailers and last year Amazon sold more than 3 million items on that day.

According to estimates by Visa Europe, £320 million will be spent online in total. It predicts that December 3 will be the busiest online shopping day ever in the UK.

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