Apparel Stocks Plunge As Amazon Delivers Another Gut Punch

Jeff Bezos is going to drive every retailer on the planet not called “Amazon” out of business if it’s the last thing he does, goddammit.

And if you do manage to stay in business, he’ll just buy you.

Fresh off snapping up Whole Foods – throwing the future of brick and mortar grocers into question in the process – Amazon is apparently rolling out something called “Prime Wardrobe”.

This is how it works (via TechCrunch):

Amazon’s latest perk for Prime members could make us more stylish by letting us buy everything that catches our eye and return what doesn’t fit. Today Amazon revealed Amazon Prime Wardrobe, which is currently in beta, but you can sign up to be notified when it launches

First you pick at least 3 items and up to 15 from over a million Amazon Fashion options including clothes, shoes, and accessories for kids and adults to fill up your Prime Wardrobe box with no upfront cost. Brands available include Calvin Klein, Levi’s, Adidas, Theory, Timex, Lacoste, and more.

Once the Amazon Prime Wardrobe box arrives, you can try on the clothes for up to seven days. Then you either schedule a free pick-up or drop the resealable box with its pre-paid shipping label at a nearby UPS to return whatever you don’t want. Keep three or four items from the box and get 10% off everything, or keep five or more for 20% off. You only pay after for what you keep, with no charge up front. Amazon Prime Wardrobe is free for Prime members with no extra fees.

Here’s the fun reaction in names like Tailored Brands, Ascena Retail, and Finish Line:

ByeBye

And do note the rather precipitous decline in the S&P Supercomposite Apparel Retail index:

Retail

There’s a lot more one could say about this, but really, it’s as simple as this: “brick and mortar” is now “brick and martyr.”

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