In the pursuit of becoming a fashion giant Amazon found very bleak chances so, what does it do? It tries to buy another fashion giant.
One more E commerce portal is under the acquisition binge. This time our favourite online store Net-A-Porter.
Online shopping giant Amazon is rumoured to be in talks to buy the hugely successful luxury fashion e portal Net-a-Porter, the value of which could be as high as €2 billion.
Richemont, Net-a-Porter’s parent company, was looking to sell the luxury e-commerce and publishing company to focus on “hard luxury” businesses.
On the other hand, Amazon has been trying to get into the luxury fashion for quite some time. But to it’s misfortune, it had not been able to appeal to any luxury brand.
Amazon will not shrug this opportunity for what we see, even though both parties have not commented on the same as of now.
Once this report is confirmed (as we said it’s a rumour as of now), there will be a lot of speculation in the luxury brand market.
Amazon founder Jeff Bezos recently told Sunday Times Style that it wants to “own” global fashion retail and plans to “strive to offer the earth’s largest selection – if there’s customer demand, we want to stock it.”
It sure does tell us one thing that Amazon is in to catch the big fish and hence, Net-a-Porter.