Economy

Amazon is reportedly developing its own sportswear line

Amazon is reportedly developing its own sportswear line”

One of its suppliers is Taiwanese vendor Makalot Industrial Co., known for making clothes sold by Uniqlo, Gap and Kohl's.

The project is brand new with contracts that are long-term, but not yet signed, said those involved.

Though sources say the initial orders are small, SinoPac Securities Corp. analyst Silvia Chiu, who was the first to note Amazon's involvement with Ecat, told the publication, "The contribution this year will be small, but the potential is high".

Amazon has previously ventured into private-label fashion, offering office clothing, jackets and dresses under names like Goodthreads and Paris Sunday.

However, it's stepping into sports apparels is expected to up the competition for some of the world's biggest athletic brands, as also lead to upheaval of the industry. The pieces will be made alongside Nike, Lululemon and Under Armour in Taiwan's Eclat Textile Co. Amazon didn't immediately return Retail Dive's request for confirmation or comment on Bloomberg's report. Last month, Nike said it expects sales to decline again this quarter in North America.

Meanwhile, Under Armour slashed its sales forecast for the year during August.

Activewear companies like Nike and Lululemon are already facing steep competition in the market. While Lululemon is looking for growth in the overseas market following competition in the market for yoga trousers and other sporty apparel.

Amazon has also been hiring new staff that has the know how in the private label arena.

Indications that Amazon may be working on an activewear first arrived in January when Re/Code noted that Amazon posted three job listings in late December for brand managers and senior brand managers working on "Amazon Active Apparel". Nineteen of the retailer's top selling private label items fall under its AmazonBasics label, which is also the site's third best selling brand overall in the US with items like electronic peripherals, batteries and office décor and supplies topping the list, according to One Click Retail.

Bloomberg further reports that Amazon normally do not look for creating its own products but when it feels that there is a gap in its inventory in terms of products consumers usually want then it looks into the manufacturing of its own merchandise.



Like this

loading...
loading...

Latest


16 October 2017
IBM launches blockchain offering to consolidate cross-border payments
IBM along with its technology partners, Stellar and KlickEx Group , had joined together in a collaboration for the blockchain. The solution integrates the IBM Blockchain Platform, which runs on Hyperledger Fabric , with the Stellar network.

16 October 2017
Michael Fassbender and Alicia Vikander Are Married!
We wish the couple the best, and hope they enjoyed this happy occasion in their lives. "She's such a fierce performer". From the looks of these über-relaxed photos, it certainly seems to be in the running!

16 October 2017
Supreme Court will decide on Microsoft, DOJ fight over global emails
The justices say today they will hear the administration's appeal of a lower court ruling in favor of Microsoft . Microsoft , in which federal investigators sought data from Microsoft that was stored on servers in Ireland.

16 October 2017
Why Kate Winslet 'deliberately' ignored Harvey Weinstein in her Oscar speech
I remember that you had said to me: 'Think to thank Harvey if you win.' And I keep in mind to have replied: 'No, I will not do it. Winslet , 42, previously worked with Weinstein , 65, on her debut film role in Peter Jackson's 1994 Heavenly Creatures .

16 October 2017
Mauricio Pochettino Didn't Like Me Initially, Reveals Tottenham Youngster Dele Alli
Kane scored six times in four top-flight matches for Spurs during September to be named Premier League Player of the Month . I have a lot of respect for Cristiano, what he does is not easy, but he is an example for the others.

16 October 2017
Gov. Brown vetoes bill aimed at Trump's tax returns
The bill was filed in response to Trump's refusal to release his tax returns as a candidate for president. He listed at least $315 million in liabilities, about the same as in a report he filed a year ago .

16 October 2017
Penn State climbs to No. 2 in AP Top 25
The last regular-season loss for Penn State was at MI last season, a 49-10 drumming that seems like a lifetime ago. The Mountaineers have been yo-yoing in and out of the bottom of the Top 25 all season.

16 October 2017
Average gas prices continue to drop across Georgia
The Ann Arbor area is up 7.8 cents to $2.54 per gallon and Flint is up 17 cents to $2.52 per gallon. The least expensive averages are $2.31 in Albany, $2.36 in Valdosta and $2.37 in Augusta.

16 October 2017
MI football listed as an 11-point underdog at Penn State
She also brought home a Penn State victory in a 1-0 double overtime outing against IL on September 17 at Jeffrey Field. Harbaugh is presently 2-0 against Penn State , including a 49-10 home win over the Nittany Lions last season.

16 October 2017
Manchester United's Paul Pogba returns to Carrington training base
The Portuguese manager has avoided questions regarding Pogba's injury and refused to set a timeframe for his return . Mourinho will welcome any news that suggests a quick return for Pogba.