Despite Amazon’s phenomenal online shopping success, a good chunk of the market
The announcement comes after the company completed a $14 billion Whole Foods Inc. acquisition deal which will allow the company to compete directly with Wal-Mart’s food and grocery line. The latter has been one of Amazon’s major competitors in the past months with Wal-Mart gaining an edge in online and e-commerce shopping.
The Prime Wardrobe service will allow customers to order around three to fifteen clothing, shoe, and accessory items without instant charges. The customer then will be given a chance to decide which products will be bought. The items which were not chosen can then be sent back to Amazon for free which means that customers will only be charged for the items which they wish to keep. Amazon will also be corresponding discounts to buyers who will be keeping a certain number of items. Customers will be given seven days to decide on the items to be bought and to ship back items in the resealable box where they will be shipped in.
The service will be carrying a wide array of clothing and designer brands such as Levi’s, Adidas, Hugo Boss, Theory, and Calvin Klein. Amazon also has been able to make connections with private brands such as Lark &
Amazon To Carry Nike Soon?
Among the wide array of designer and clothing brands that Amazon carries, the company does not currently offer any Nike product on Amazon.com although it can be seen on Zappos.com which happens to be an Amazon subsidiary. However, recent speculations and reports reveal that Amazon might finally carry a Nike line on its site soon.
According to Goldman Sachs, Amazon can further expand its already massive retail channels if it would strike a deal with Nike to carry its product on its site. Nike goods include products such as apparel, sportswear, shoes, sporting goods.
Shares of the company rallied by 0.84% on Tuesday following the announcement and have remained positive since then. Amazon shares are currently up by 40% for the past year and have spiked by 32.05% this year. The stock has also outrun the S&P 500 which has risen by 16.6% for the current period. It is currently up by 0.94% at $1002.23.