Amazon is in talks to buy online luxury retailer Net-a-porter in what could be the biggest acquisition yet for the e-commerce giant, but the negotiations are in early stages and could fall apart, Forbes reported, citing a person familiar with the matter.
The potential deal, first reported by Women's Wear Daily, could value Net-a-Porter lower than the valuation of EUR2 billion (USD2.16 billion) reported by the fashion industry trade journal, Forbes reported on Thursday, citing the person.
Amazon and Microsoft are "friends" not rivals of Alibaba in the cloud computing space, a top exec at the Chinese e-commerce giant told CNBC.
The comments come just a few days after Alibaba opened a data centre in Silicon Valley – its first on US turf in a cloud market dominated by Amazon, Google and Microsoft.
But Ethan Yu, the international head of Alibaba's cloud division, Aliyun, told CNBC that the company was not in competition with its US counterparts.
Amazon has reported a net profit of USD214 million during the Christmas trading period, just months after reporting its biggest ever loss.
To help fuel its growth, Amazon.com is increasingly turning to the millions of businesses that use its site to sell their own goods. That’s a good thing for Amazon, because those third party sales tend to have higher margins, according to some analysts, and it’s an inexpensive way to fill out its online catalog.
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With 100 million more items shipped for free this holiday season compared to the same period last year, Amazon said customers saved USD2 billion in fees from the two-day free shipping promo of Amazon Prime.
“We are especially excited that 10 million new customers tried Amazon Prime for the first time,” said Jeff Wilke, Senior Vice President, Amazon.com.
Companies like Amazon, iTunes and Net-a-Porter conduct all their business online. Traditional retailers, however, have an added challenge. They have to transition from being solely brick-and-mortar businesses to providing an integrated omni-channel experience that is able to leverage new technologies.
Amazon reported that net sales increased 20 percent to USD20.58 billion in the third quarter, compared with USD17.09 billion in third quarter of 2013.
“As we get ready for this upcoming holiday season, we are focused on making the customer experience easier and more stress-free than ever,” said Jeff Bezos, founder and CEO of Amazon.com.
A Sydney software company developing e-commerce tools for businesses is taking on Amazon by teaming up with the Chinese internet giant Alibaba.
Bigcommerce has announced a partnership with the Chinese behemoth, hoping to slice into Amazon's capacity to source cheap products by connecting merchant to wholesaler.
Alibaba, which pulled off the biggest IPO in history on the New York Stock Exchange last month, will integrate its buyer and supplier network with Bigcommerce's users, enabling merchants to source products directly through Alibaba's suppliers.
It's turning online commerce on its head: Amazon.com is reportedly planning to open its first physical store, a move that could mark a key strategic shift for a retailer that has been a pioneer of e-commerce.
Amazon announced on Tuesday that top deals from sellers worldwide will be featured on holiday deal pages.
Participating sellers are expected to offer thousands of deals across most product categories throughout the holiday season. These deals will now appear on the Amazon Today’s Deals page, Black Friday Store, Cyber Monday Store and many other high customer traffic site features and even in local Amazon sites in the US, the EU, China, Japan, India and Canada.