It is certain that the American retail giant Amazon wants to be any place where people pay money to purchase goods. With its online retailing growing ever bigger and it’s first autonomous supermarket for employees, there can be little doubt that Amazon wants to spread its tentacles to every place on the globe where money is exchanged for goods. And why must apparel and couture be left out? For what is one of the world’s most valuable companies, with a market capitalization of $801 billion, it should not come as a surprise that Amazon would make a move on the world of high fashion.
By fashion, it not only wants to broaden its online catalog but also launch its own labels. As a sign of its aggressive expansionist intentions, Amazon has gone so far to poach design honchos from all across the high street. Some of the companies from where it poached senior design executives include Marks and Spencer, Primark and Nike. The new hiring clearly indicates Amazon’s foray into the world of high market fashion. Furthermore, it is also clear that the retail juggernaut wants to move away from the usual run-of-mill apparel such as t-shirts, underwear, coats and sell designer clothes fit for partying.
Being a retail industry leader, it makes sense for Amazon to enter this sector, given the high potential for growth, in spite of the competition from long-established labels.