May 6, 2021

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fashion is organic

Amazon.com, Inc. (NASDAQ:AMZN), (LEVI) – Amazon Launches $5 A Month Try And Buy Personal Shopping Service For Men

2 min read

Amazon.com, Inc (NASDAQ: AMZN) has expanded its personal shopping service to include men.

What Happened: The e-commerce company’s existing $4.99 per month Personal Shopper by Prime Wardrobe plan now includes services for men, offering a variety of apparel, selected by a stylist, that match the shopper’s style and fit.

The service, available for Prime members in the United States only, will offer men items from labels such as Lacoste, Levi Strauss & Co. (NYSE: LEVI), and Amazon’s own Essential brand, TechCrunch reported Monday.

Items are shipped on a monthly basis to the buyer’s home on a trial basis along with a prepaid envelope for returns.

Why It Matters: Amazon told TechCrunch that “hundreds of thousands” of customers have created fashion profiles with the service since its 2019 launch.

The number of customers on a monthly basis runs in “tens of thousands,” the retail giant said.

The service mirrors Stitch Fix Inc (NASDAQ: SFIX), which charges a $20 stylist fee that is later credited towards purchases, noted TechCrunch.

The Jeff Bezos-led company, in a slight deviation, charges a monthly flat fee, and unlike Stitch Fix, alerts customers ahead of shipping to review the stylist’s picks.

Stitch Fix released its fourth-quarter results last week and had net revenue of $443.4 million, an 11% increase year-over-year on an adjusted basis. 

The personal styling company had a total of 3.5 million active clients, a growth of 9% year-over-year.

Price Action: Amazon shares closed 2.55% higher at $3,174.05 on Monday and gained almost 0.5% in the after-hours session.

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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