Amazon is a definitive example of being amazing to shadow the world with its business strategies and successful implementations. However, notions of Amazon facing demise are debunked and unconfirmed.
It has been mentioned that Amazon has caused the Gilt Groupe competitor MyHabit to finally close its curtains down and bid the world of business and trade goodbye. A report from CNBC relayed, "Three months after Gilt Groupe sold for a fraction of its valuation, Amazon has decided to shut down its fashion discount competitor MyHabit."
Amazon launched the website five years ago near the height of the flash-sale craze, but it has struggled in recent years as the one-time popular fashion niche has become less popular and Amazon has prioritized other fashion initiatives, according to the same report.
Although Amazon has closed MyHabit, the online business entity has other plans in store for the company. It stands out that Amazon has been for sometime implemented the launching of several of its own fashion brands namely Lark & Ro and Franklin & Freeman. It has been speculated that this business ordeal will be one of the major focus and drive that will propel Amazon's fashion business to new heights and fame.
It has also been mentioned in the past by Jobs & Hire that Amazon has always aimed for constant innovations and upgrades for all of its services and entities such as the Kindle. While the company has shut some of its resources, it is also on the verge of launching and developing new ones.
It goes without saying that in the world of business and trade, innovations and taking risks are among the strategies to aim new feats and profits. As for the rumors of Amazon facing demise and in trouble, it remains untrue and unsettled and should be treated like grain of salt.
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