trending Market Intelligence /marketintelligence/en/news-insights/trending/Pf9C0h16YqgkcnVHRyK4Jg2 content esgSubNav
In This List

Report: Amazon working on luxury goods platform; launch set for H1


Insight Weekly: PE firms shift strategies; bank earnings kick off; bankruptcies plummet


Bed, Bath, and Bankruptcy: Using Quantitative Credit Models to Predict Corporate Defaults


Insight Weekly: Stocks limp into 2023; GCC banks set for rebound; deep-sea mining faces pushback


Infographic: The Big Picture 2023 Sustainability Outlook

Report: Amazon working on luxury goods platform; launch set for H1 Inc. is working on an e-commerce platform for luxury goods, with a launch date slated for the first half of 2020, Women's Wear Daily reported Jan. 8, citing industry sources.

The marketplace will initially launch in the U.S. before rolling out globally, the report said.

To support the plan, the company is reportedly constructing a warehouse in Arizona for the luxury items and has allocated $100 million to a marketing campaign.

Amazon is reportedly working with 12 luxury brands. However, the report said Louis Vuitton and Dior owner LVMH Moët Hennessy - Louis Vuitton Société Européenne declined to join the platform.

In a shift from its current business model, Amazon will allow luxury brands full control of the user interface of their online stores, as well as the volume of inventory and which products they plan to sell.

An Amazon spokeswoman declined to comment on "rumors or speculation," WWD said.