Tech giant Amazon is one step closer to becoming a one-stop solution for all your retail needs. Amazon might launch its new private label fashion range in the UK market to compete against big names like Marks & Spencer, Next and Asda’s George. Fashion magazine Drapers reports that Amazon’s new private label clothing could be in the market as early as this spring.
Amazon’s clothing division vice-president Frances Russell, who was previously the womenswear director at Marks & Spencer, knows the region and the market in particular. The etailer has also poached many top executives from M&S and other top UK retailers. Industry experts expect Amazon to scuffle hard in its early years to gain market share in the UK market as the existing players are equally competitive and watchful. Having said, Amazons fashion label could pose a risk to the high street retailers.
Richard Lim, chief executive of Retail Economics said: “Amazon is a very cash rich business and if they want to launch into a sector, they won’t do things by half. “They offer convenience, good value and speedy and well-priced delivery, so it’s a good customer experience.”Lim added that the UK clothing market worth £48bn in 2016 is a huge but very fragmented industry which has great potential for online fashion companies.
Many industry experts, on the other hand, expressed skepticism on how good Amazon would perform as a “go-to fashion label”. Amazon has its own women’s underwear brand in the UK that sells under the brand Iris & Lilly. Amazon has recently revealed that fashion wears was one of the fastest growing categories in its European websites.