Amazon India launches private fashion label ‘Symbol’ to boost up sales

Amazon India has launched its first private fashion label- Symbol, aiming to boost its sale margins ahead of festive season. The etailer plans to introduce six fashion private labels this year, according to Livemint.
The private label has been launched by Amazon’s largest seller, Cloudtail India Pvt. Ltd, which is a joint venture between Amazon Asia and Infosys Ltd founder N.R. Narayana Murthy’s Catamaran Ventures. Amazon currently also offers headphones, charging cables, bags and a few other accessories under the AmazonBasics brand through Cloudtail.

With the ever growing competition and high customer acquisition cost, private label looks good option to increase margin — given that fashion and lifestyle is the second largest category for online retail.
The private labels would also impact Amazon’s revenues and could help it overtake rival Flipkart, which has a strong foothold in fashion, appliances and personal health and is already planning to launch its own label in jewellery, fashion accessories and mobile. Its acquisition of Myntra and Jabong has further added fashion private labels for the company.

Notably, the company has hired former Myntra executive Gautam Kotamraju for handling its private labels. Kotamraju played a crucial role in adding to sales at Myntra with labels like Roadster and Mast & Harbour.