Amazon is reportedly launching a new luxury fashion platform as it doubles down on its mission to take over the apparel industry

If a new luxury fashion platform does come to fruition, it could play a crucial role in bolstering Amazon's position in the fashion world.

Industry insiders told WWD that the new platform will work similarly to a concession in a high-end specialty store, where brands essentially operate as a miniature store within a store and either lease space or give a percentage of their sales to the larger store.

A spokesperson for Amazon told Business Insider that the company does not comment on „rumors or speculation.“ „Luxury has not been something they have been able to crack,“ Doug Stephens, founder of industry website Retail Prophet, said in a recent conversation with Business Insider. Stephens added that the prevalence of counterfeit products on Amazon’s site has „tarnished“ its reputation when it comes to clothing.Other experts say that the shopping experience on Amazon hasn’t traditionally lent itself well to fashion shopping.

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