Amazon in apparel biz
By Chaitanya Muppala | Vjmedia Works | April 25, 2014
Amazon has roped in designer Narendra Kumar, as Creative Head, Fashion, who will put together trends in its different collections.
Already the largest e-commerce portal in the country by products offered, Amazon will offer 12,000 styles from 90 brands, including private labels and national & regional retailers. Besides, it has also launched a sunglasses store with 2,800 styles.
Myntra offers 500 brands and Jabong about 1,000. Prashant Agarwal, joint
managing director of consultancy Wazir Advisors, says with its supply chain and
deep pockets, the US giant could catch up with the local rivals in a couple of
years. Amazon has roped in designer
Narendra Kumar as creative head for fashion.
Analysts say since womenswear is growing fast with margins breaching 40 per cent among private labels, the entry will help boost Amazon's business and profit.
"With our vast selection of fashion products' line, trend insights and customised product recommendations, in addition to our quick and fast delivery and easy return policy, women now have enough reasons to shop till they drop,â€ said Vikas Purohit, category leader (fashion), Amazon India.
In October 2012, Flipkart entered the menswear segment; later it launched a womenswear range. With 15 million products, Amazon India has overtaken home-grown e-commerce portals, such as Flipkart and Snapdeal. While Flipkart offers close to 10 million products, Snapdeal offers about four million. US' ebay offers 1.5 million products in India.