Following celebrations of Amazon Prime’s tenth year, online giant Amazon is looking to expand its global market by dabbling in the fashion sector.
The company has outbid rivals Myntra and Snapdeal to sponsor India Fashion Week in New Delhi. Amazon will replace Wills Lifestyle to work closely with the FDCI (Fashion Design Council of India) to reaffirm its brand positioning and global influence. Sunil Sethi, president of the FDCI, stated:
“With Amazon in, we have an association, which is committed towards building a robust alliance, a solid workable business module, one that is aligned with FDCI’s long-term vision- amplifying the business of fashion”
The move comes as Amazon also plans to release its own (and first) fashion line, in order to keep up with competition from Myntra- India’s largest e-commerce store for fashion and lifestyle products. This will make India the initial provider of Amazon’s first fashion label and the test pilot for pushing the scheme elsewhere in the future.
The Economic Times reported that Amazon’s US headquarters gave the news away, as an advertisement was posted on LinkedIn three months earlier, with the following job description:
“This position is responsible for leading and managing the private label brands to maximise customer experience, sales, margin and turns”. The job requires passion about, ‘high quality fashion products’ and will be based in Bengaluru.
Coinciding with India Fashion Week March 25, and the news of a new label, the venture is a positive step towards expansion for the ambitious online company.