These brands you've never heard of are propelling Amazon to outsell Macy's and every other retailer
The e-commerce giant is going after department stores like Macy's, JCPenney, and Nordstrom in an effort to become the go-to place for apparel shopping.
According to a report by Cowen & Co from October 2016, Amazon is expected to surpass Macy's to become the biggest apparel seller this year. The company's clothing and accessory sales are expected to grow nearly 30%, to $28 billion. Macy's apparel sales, by comparison, are expected to drop 4%, to $22 billion, in the period.
But as a newcomer to the fashion world some of its private label brands are still relatively unknown. According to WWD, Amazon plans to build its empire with these eight brands:
- We bought a house in Japan for $30,000. We'll have more land than we could afford in the US, and our kids will be more independent.
- Rumors Prince William is having an affair with Rose Hanbury are flooding social media again after Stephen Colbert waded into 'Katespiracy'
- CEO says he tried to hire an AI researcher from Meta, and was told to 'come back to me when you have 10,000 H100 GPUs'
- Garden city to concrete jungle: Bengaluru city has just 7% green cover left, reveals IISc study
- India can sustain 8% growth, even higher: RBI bulletin
- Zomato launches 'Pure Veg Mode' with vegetarian riders from eateries that don't serve meat
- Dalal Street investors become poorer by ₹4.86 lakh cr as markets tumble
- Housing markets remain strong in 2024, sales rise 20% across six metro cities in Q1