Amazon fashion leads private label business, brings in $21M YTD
Amazon's private label business has earned $250M this year. 19 of 20 of the top selling private brands are sold through the AmazonBasics label. 85 percent of AmazonBasics sales come from fashion, baby care and vitamins.
Amazon's success with its private label brands makes it clear why retailers like Dick's Sporting Goods and Nordstrom look to boost their own business through private label initiatives.
According to a recent study released by E-commerce analytics firm One Click Retail, Amazon's private fashion brand Lark & Ro showed 90% growth, or $10 million dollars in the past year. In addition to Lark & Ro, other Amazon private apparel brands include Buttoned Down, Mae and Goodthreads.
Apparel sold through the Amazon Essentials label has earned $3 million so far this year. The remaining 15 percent of Amazon's private label business is comprised of 45 brands. Apparel leads all of the private brand categories with $21M YTD sales.
In addition to fashion, baby care and vitamins have also grown 90 percent over the last year. AmazonBasics is the top #3 brand on Amazon in the US. It is #2 in Canada with $12M annual sales.
While private label is a success for North America, One Click Retail's study revealed Amazon's private label business is not as strong in Europe. AmazonBasics ranked 20th in France, 28th in Germany and 30th in the UK.
One Click Retail CEO Spencer Millerberg explained Amazon's success in private label is attributed to accessing mass amounts of data as well as having the resources to develop consumer right brands and products quickly. He said, "Amazon sellers can learn a great deal about how to compete, simply by watching Amazon's private brand strategy."
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