Tuesday 26 June 2018

Amazon stakes claim to top fashion platform; vertical grows 90% in 2017

Amazon stakes claim to top fashion platform; vertical grows 90% in 2017

US e-commerce giant Amazon’s big push into fashion retail in the Indian market seems to be paying off, with the company on Tuesday announcing a jump of nearly two-and-a-half times in sales during the third edition of its Wardrobe Refresh Sale. Arun Sirdeshmukh, business head of Amazon Fashion, said this was the biggest-ever sale for the company. The firm, which has competitors like Myntra and Jabong, is staking claim to top spot, citing it is the largest fashion store in India in terms of selection. “We have grown over 90 per cent in terms of both volume and value in 2017,” it said. “Tier II and Tier III cities reported faster growth, with markets such as Indore, Pune and Vadodra growing at 3X to 4X. The Amazon Fashion exclusive brands also showed strong growth. Our sports exclusive Under Armour grew 6X, and GAP grew 8X. Our wide reach covered 100 per cent serviceable pin codes in India, with Amazon Fashion witnessing 2X growth in first-time shoppers,” Sirdeshmukh said.

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