According to a recent Seattle Times article, Amazon has introduced two new home furnishing brands, “the latest extension of the company’s growing private label section.” The private labels are called Rivet and Stone & Beam and will be sold exclusively on the Amazon.com platform. Since establishing the AmazonBasics brand in 2009, which includes everyday household items such as “batteries, headphones and iPhone chargers,” the retail giant has continued to move into contract-manufactured items, which are products made solely for one company’s use and “carry a lower price than name-brand items.”
Lower prices clearly provide an advantage by appealing to savvy consumers, and with a reasonable price point and two collections to appeal to different audiences, their move into making home goods will likely be well received. While Amazon says that Rivet will offer a range of “stylish and versatile mid-century modern furniture and décor,” Stone & Beam will be focused on “comfort and durability.”
Seattle Times says the retailer’s stronger presence within home goods does not bode well for specialized companies, such as Wayfair. According to a release earlier this week, Michael Fleisher, chief financial officer for the furniture and home goods company said that though they still have “advantages over Amazon in selection, distribution, and delivery,” Amazon isn’t a problem that will “go away.” According to the latest stock market trends, shares of Wayfair, William’s Sonoma and Kirkland were all down slightly, and “Amazon stock, meanwhile, rose 0.2 percent.”
Want to learn more about Amazon’s new furniture collections? Read the full article here.