Amazon Eats The Department Store

Amazon is already the biggest clothing seller online. It might soon overtake most of its brick-and-mortar rivals in fashion sales, as well.There were no runway models on any Amazon catwalk at last week’s New York Fashion Week. But the e-commerce giant still loomed large in the minds of retail executives watching it elbow its way into the fashion industry.Amazon is expected to triple its share of the U.S. apparel market over the next five years. For the past decade, fashion brands had viewed Amazon as the enemy. Brands swore off selling goods on Amazon, bemoaning its cluttered website and the risk of counterfeit goods. Many reluctantly started their own websites, but continued to rely on department stores for the bulk of their sales. Read more at Bloomberg.