Back in January, Amazon was reported to be launching a new luxury fashion platform in an attempt to fully infiltrate the apparel industry. Now, around eight months on and the fashion industry is facing a frankly existential crisis due to the global pandemic, as UK clothes sales tumbled by 34 per cent and in America by 89 per cent.
Many are asking whether the strides Jeff Bezos (who recently became the first person in modern history to be worth US$200 billion) is taking into the luxury fashion circuit will provide a welcome relief for the industry. Or, conversely, whether it is a misinformed business strategy that cannot properly cater to both the Amazon and luxury markets.
To coincide with international Fashion Weeks, the platform is expected to be launched in September and will see various designers and brands operating their own concessions on the site.
Participating labels will also have complete independence over how their products look, which pieces are marked down and how much they would like to sell. This control will combine with Amazon's own distribution and storage infrastructure.
Full details on participating brands are yet to be announced but there are believed to be a dozen already signed off.
Strap in as you can expect to see massive changes to the face of luxury fashion.
Photo: Morning Brew for Unsplash