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Amazon Taking on Farfetch With New Luxury Brand Platform

TheMotleyFool

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Amazon (NASDAQ: AMZN) is developing a new platform for luxury brands that could bring it into direct competition with the existing luxury fashion marketplace Farfetch (NYSE: FTCH).

According to industry site WWD, a dozen luxury brands are reportedly ready to debut on the platform in September where they will not only have full control over their online stores, but will also be able to tap into Amazon's customer service operations and utilize its rapid delivery network.

Image source: Getty Images.

Source Fool.com

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