Amazon to launch luxury fashion platform in major challenge to Farfetch and YNAP

Amazon has set its sights on Farfetch and Yoox Net-A-Porter as it prepares to launch its own luxury fashion marketplace next month.

More than a dozen up-market fashion and accessories brands have partnered with Amazon in preparation to launch a new luxury brand platform, according to WWD.

Its new platform will allow brands to take full control of their own virtual stores on the platform, similar to rivals like Farfetch.

Brands will be able to dictate the look of their online concessions and will be given autonomy to decide how much to sell and when they mark down items.

READ MORE: Amazon to launch ‘Fashion Summer Sale Event’ this month to “jump-start sales”

According to the report, a new warehouse is being built in Arizona especially for the luxury platform, which will give its brands access to Amazon’s vast warehousing and logistics network.

It is understood that this was initially due to be announced in the Spring but was put on hold due to coronavirus and will now be unveiled in September, in time for fashion show season.

A $100 million marketing campaign is reportedly set to accompany its launch, while numerous TV, film and streaming projects with the brands are in development.

It comes as Amazon ramps up its focus on the fashion industry, which remains one of the few markets it is set to establish a firm foothold.

In May it was reported that Amazon was launching a new designer fashion hub in partnership with the Council of Fashion Designers of America (CFDA) and Vogue magazine to help struggling independent designers.

Dubbed “A Common Thread”, the online store sold from 20 independent fashion designers including Tabitha Simmons, Derek Lam and Philip Lim.

A month later, Amazon launched the “Biggest Fashion Summer Sale” event in a bid to jump-start sales and help retailers shift surplus stock that has accumulated during lockdown.

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