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Amazon India has launched its first private fashion label in a bid to boost sales and margins. This is a part of atleast six labels that the company plans to launch in India, says a report in the Livemint.
The release of the brand - named Symbol - was launched earlier this month right before the e-commerce companies start with their festive season sales. The brand will help Amazon India get more traction.
Amazon India already offers electronics - like headphones, cables, backpacks and tripods - under its AmazonBasics brand and is hoping to launch the rest of fashion private labels by end of this year, media reports say.
E-tailers are now exploring options of high-margin private label business as it eliminated the need for third-party sellers. Also, fashion is expected to become the largest product category by 2020, says a Google Inc and AT Kearney report.
At present, it is the second largest product category in e-commerce business.
Amazon India’s move to launch a private label will also intensify its competition with the rival Flipkart, which had launched its first private label in 2014.
Flipkart has a strong foothold in fashion, appliances and personal health and is already planning to launch its own label in jewellery, fashion accessories and mobile. Its acquisition of Myntra and Jabong has further added fashion private labels for the company.
To strengthen its position in private labels, Amazon India has hired Gautam Kotamraju, a former Myntra executive, who had played a crucial role in adding to sales in labels like Roadster and Mast & Harbour.
Amazon launches fashion private label to boost margins up sales
The release of the brand - named Symbol - was launched earlier this month right before the e-commerce companies start with their festive season sales. The brand will help Amazon India get more traction.
Amazon India already offers electronics - like headphones, cables, backpacks and tripods - under its AmazonBasics brand and is hoping to launch the rest of fashion private labels by end of this year, media reports say.
E-tailers are now exploring options of high-margin private label business as it eliminated the need for third-party sellers. Also, fashion is expected to become the largest product category by 2020, says a Google Inc and AT Kearney report.
At present, it is the second largest product category in e-commerce business.
Amazon India’s move to launch a private label will also intensify its competition with the rival Flipkart, which had launched its first private label in 2014.
Flipkart has a strong foothold in fashion, appliances and personal health and is already planning to launch its own label in jewellery, fashion accessories and mobile. Its acquisition of Myntra and Jabong has further added fashion private labels for the company.
To strengthen its position in private labels, Amazon India has hired Gautam Kotamraju, a former Myntra executive, who had played a crucial role in adding to sales in labels like Roadster and Mast & Harbour.
Amazon launches fashion private label to boost margins up sales
