Industry online but not travel...Amazon.com
Amazon.com opens jewelry store
By Frank Barnako, CBS.MarketWatch.com WASHINGTON (CBS.MW) -- Amazon.com announced Thursday it has launched an online jewelry and watches outlet and promised "significant savings" for customers. Breaking from the company's normal practice, however, Amazon will sell product from its own inventory.
While half a dozen other jewelers, including Ice.com, are "featured sellers" in the store, CEO Jeff Bezos told the Wall Street Journal Amazon (AMZN) itself will stock "millions of dollars of jewelry in a secure warehouse," giving it the ability to price the goods, rather than rely on selling partners to do so. "The margins in a typical jewelry retailer are so high you can save people a significant amount of money," Bezos said.
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