Amazon is recruiting designer labels to join it's aggressive push into the fashion realm. The frist monobrand e-tailing, the first of it's kind for Amazon, is with Derek Lam's 10 Crosby contemporary line reported WWD.
"When we think of what's next, we think of ourselves. We want to raise our own bar for presentation and innovation around the shopping experience, and partnerships like this one that elevate the whole experience give her content that she might not have [received] otherwise, and immerse and shop the brand in a way that she can't today," said Cathy Beaudoin, president of Amazon Fashion.
The destination at amazon.com/10crosby puts Amazon directly in competition with e-tailers like Yoox Group, whose monobrand business for brands such as Giorgio Armani, Valentino, Marni and Ermenegildo Zegna surpassed $150 million last year. A difference is that Yoox operates its designer boutiques anonymously, meaning a shopper doesn't have to access the store from Yoox.com.
Still, the 10 Crosby store is another indication that Amazon is increasingly serious about grabbing a bigger piece of the fashion pie. The launch of the platform service follows Amazon's decision to lease a 40,000-square-foot space in Williamsburg, in Brooklyn, N.Y., that will serve as a photo studio and will open later this year, as well as its first television commercial dedicated to fashion that aired March 4.
Beaudoin said, "We have been accelerating all of our efforts, time and attention in this space because there's so much to do here. It's so ripe for innovation, and if we can give customers a beautiful, branded 10 Crosby experience - and couple it with the ease of shopping on Amazon and all the service that our customer relies on - it's a genius combination."
Retailers have long been nervous about Amazon entering the fashion world because its size and expertise. It has the the potential to be as disruptive as it's been to the book industry.
Lam, commenting on why he formed the partnership, said, "I'm fascinated by this idea of leading a 'contemporary life.' Today, digital is deeply integrated into how we consume and engage with the world around us. Working with Amazon Fashion gave me the freedom to translate our brand into an e-commerce experience that isn't just about selling our product, but about telling our story to customers," Lam said of the partnership.