Amazon is working to create a luxury fashion platform on its website. Since 2012 Amazon has been attempting to break into the fashion world, however, the plan looks closer to completion now than ever.
These high-end brands will function as their own stores within Amazon, allowing them to control the appearance of their individual online store. This helps these high-end companies frame their merchandise as luxurious, away from other commonplace items that can be seen on Amazon’s homepage.
So far, about 12 anonymous brands have confirmed their participation in the tech giant’s latest endeavor. Amazon will most likely open a warehouse in Arizona for the new luxury platform. As mentioned earlier, though Amazon has tried the fashion industry before, the tech giant now plans to fun a $100 million marketing campaign for the platform, and with Amazon’s recent holiday season boom, they may have the momentum needed to make this new endeavor a success.
That being said, the move was not met without skepticism, especially since Nike recently withdrew from the online marketplace due to an overwhelming amount of counterfeit products hindering their sales.
Though Amazon has recently confirmed that it will be starting a high-end fashion platform, its specifics are still largely unknown. If you are an Amazon fashion seller and require financial advice regarding the Amazon Marketplace, our team is here to help.
If you are an Amazon seller and require the assistance of an experienced Certified Public Accountant, please contact Ebiz Accounting for an initial consultation. We provide Amazon business accounting services to clients in New York and throughout the United States. All Amazon sellers should have an accountant they can trust. If you are looking to expand your business, or even form a new one, do not hesitate to reach out to our knowledgeable team today.