Amazon India has launched its first private label fashion brand in the country called Symbol, reports The Mint. The brand has been launch by Cloudtail India, Amazon’s largest seller, in anticipation of the upcoming festive season.
As of now, Amazon lists a Symbol store with shirts, t-shirts, bottoms, innerwear and accessories. The website also lists nightwear as coming soon. The store currently has over 200 listed items like socks, handkerchiefs, trousers, boxers etc. Note that from a cursory glance all the clothing appears to be for men.
AmazonBasics: This is Amazon’s second private label in the country – it previously launched AmazonBasics in India in September last year, starting with consumer electronics. The company had said then that it would expand to include other categories in the coming months. As of now, the platform is selling lightning cables, data cables, audio video cables and various adapters. Note that Flipkart also has a private label called DigiFlip for electronic accessories, as well as a lifestyle private label Flippd and a home appliances and personal healthcare private label Citron.
Focus on video content: Earlier this week, Amazon signed a content deal with Mukesh Bhatt-owned Vishesh Films for movies and TV series, giving Amazon the exclusive digital rights to Vishesh Films’ entire catalogue including Raaz Reboot, Aashiqui 2, Jannat, Murder etc., and other upcoming films. Last month, Amazon India signed up with Excel Entertainment for its first show called Power Play, which would be based on cricket and showbiz.
Amazon Prime launch: In July, Amazon launched Prime in India at an introductory price of Rs 499 for a year which would give users same day or next day delivery on orders and 30 minute early access to lightning deals. After the inaugural pricing period, a Prime subscription will cost Rs 999 a year. Subsequently, the company launched Amazon Pantry in Hyderabad, which is available globally only for Prime members.
Amazon India’s investment and financials
In June, Amazon CEO Jeff Bezos announced that the company would invest $3 billion (about Rs 20,000 crore) into its India operations. This investment takes Amazon’s total commitment in India up to $5 billion, which includes the recent $3 billion and a $2 billion investment announced back in July 2014, which the company has already completed in phases over the past two years.
From the ROC data: Amazon Seller Services reported a revenue of Rs 1,022.1 crore for the year 2014-15, growth of 108.46% from the previous year. However, losses widened to Rs 1,723.7 crore during the period from the loss of Rs 321.3 crore in the previous year. Expenses also shot up during the year to Rs 2745.7 crore, compared to Rs 490.3 crore in the preceding year.