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- It is estimated that the company's apparel business will grow from $16 billion in gross merchandise volume (GMV) in 2015 to $52 billion in GMV in 2020.
- Compared to its most notable competitors, Amazon has 34% more apparel buyers than Target and 2% more than Walmart.
To help accelerate its growth in the apparel market, Amazon has made some investments in fashion recently. The e-commerce giant hired Julie Gilhart, the former fashion director at Barneys New York, as an adviser. Amazon is also opening fashion photography studios in Brooklyn and London.
Here are other stories you need to know from today's E-COMMERCE INSIDER:
- ONLINE SALES IN CHINA GROW AND EXPAND TO RURAL REGIONS
- GOOGLE INTEGRATES BUY BUTTONS AND ENTERS HOME SERVICES MARKET
- JET.COM LAUNCHES TODAY WITH AN EXPENSIVE OPERATIONS MODEL
- COMPANIES IN THE NEWS
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Disclosure: Jeff Bezos is an investor in Business Insider through hispersonal investment company Bezos Expeditions.