Amazon shares are climbing after announcing 'Wardrobe' service
Amazon just announced a new clothing-delivery service in its continuing quest to take over fashion retail.
Shares of the company are up 0.84% in early trading Tuesday after announcing the new fashion service.
Dubbed "Wardrobe," the new service will ship a box of clothes curated by hand to the customer, according to Ángel González of the Seattle Times. The new service operates in the same manner of Trunk Club, Stitch Fix, or other fashion subscription services. Any items a customer doesn't want can be placed back in the box and returned using an included shipping label.
Customers pay a selection fee for the box and can use that fee toward the purchase of any of the items in the box.
The service is rolling out to select individuals in a small trial run. The company has not yet announced when the service will be more widely available, according to González.
This announcement comes after Amazon announced a $13.7 billion acquisition of Whole Foods on Friday, a move many say is aimed at gaining a stronger foothold in the grocery and grocery delivery business.
Amazon also announced the Echo Look recently. That addition to the Echo family of connected speakers focuses on fashion, with a camera that snaps photos of the user's outfits and offers fashion advice.
Amazon is up 32.05% this year.
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