Amazon Launches Luxury Stores With Oscar de la Renta - TheStreet

Amazon Launches Luxury Stores With Oscar de la Renta

Amazon launched a luxury stores offering within its app, partnering first with fashion house Oscar de la Renta.
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Amazon  (AMZN) - Get Report said Tuesday that within its app it was launching a luxury-stores shopping experience, with Oscar de la Renta as the e-commerce giant's first official partner.

Shares of the Seattle online retailer and tech provider at last check were up 1.4% around $3,147.

The new offering will be available in the Amazon app by invitation. Amazon Luxury stores is currently available to eligible U.S. Amazon Prime members. 

The Luxury Stores will feature technology like View in 360, which enables customers to explore styles in 360-degree detail.

The first Oscar de la Renta store will feature pre-fall and fall/winter 2020 collections, including ready-to-wear, handbags, jewelry, accessories, and a new perfume, Amazon said in a statement. Children's wear will be coming soon. 

The Fall/Winter 2020 collection is currently available only in Oscar de la Renta’s boutiques and website.

The launch will include a video starring model and actress Cara Delevingne. 

And more brands will launch within Luxury Stores in coming weeks and seasons, the company said.

KeyBanc analyst Edward Yruma said in a report cited by Bloomberg that Amazon's choice of Oscar de la Renta was “somewhat surprising.” He expected the launch to feature either a larger brand or a collection of smaller brands.

Yruma said that “Oscar’s apparel presence in the traditional wholesale channel has waned over recent years,” and it has increasingly relied on its jewelry and fragrance offering. 

The analyst said that struggling department stores and boutiques will leave “significant share in luxury apparel retailing” up for grabs.

In addition, consumers have more quickly shifted to e-commerce since the coronavirus-pandemic shutdown started, the analyst said.