While much of Amazon’s sales volume is in diapers, blenders, and other unglamorous products, the e-commerce behemoth is also a fashion giant. Next year it’s expected to become the biggest apparel seller in the US, and it boasts an enviable customer base for higher-end brands: Penetration of its “Prime” membership program is greatest among upper-income households, and they are incredibly loyal repeat customers who like to shop for clothes. And yet high-end luxury labels aren’t biting. Jean-Jacques Guiony, CFO of LVMH, which owns Louis Vuitton and other luxury labels, told analysts on an earnings call on Oct. 11 that there is “no way” it would do business with Amazon. “We believe that the existing business of Amazon doesn’t fit with our—doesn’t fit our luxury, full stop, but also doesn’t fit with our brands,” he said. “If they change the business model, I don’t know, but with the existing business model, there is no way we can do business with them for the time being.” Read more at Quartz.