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Amazon Makes New Upscale Move with 'Luxury Stores'

A sign is pictured at the Amazon Fulfilment Center in Peterborough, eastern England, Nov. 27, 2019. (AFP)
A sign is pictured at the Amazon Fulfilment Center in Peterborough, eastern England, Nov. 27, 2019. (AFP)
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Amazon Makes New Upscale Move with 'Luxury Stores'

A sign is pictured at the Amazon Fulfilment Center in Peterborough, eastern England, Nov. 27, 2019. (AFP)
A sign is pictured at the Amazon Fulfilment Center in Peterborough, eastern England, Nov. 27, 2019. (AFP)

Amazon unveiled plans Tuesday for a new online luxury "shopping experience" that will seek to connect well-heeled consumers and high-end brands.

The first partner for the new online "Luxury Stores" is Oscar de la Renta, the US fashion house that will show its 2020 collections, with more brands expected in the coming weeks, according to an Amazon statement.

The move is not Amazon's first foray into luxury goods but seeks to create a new online shopping portal with top brands and upgraded technology offering 360-degree views for shoppers.

Luxury Stores will operate on an invitation-only basis for Amazon Prime members.

Within the Amazon app, the new portal will offer improved graphics and visualization, and allow brands to sell as a "store within a store," controlling their own inventory, selection and pricing.

"We are always listening to and learning from our customers, and we are inspired by feedback from Prime members who want the ability to shop their favorite luxury brands in Amazon's store," said Christine Beauchamp, president of Amazon Fashion.

"We are excited to offer luxury brands the services and technology to build an inspiring, elevated customer experience."

The move comes with Amazon having boosted online sales in many sectors in recent months during the coronavirus pandemic, which has closed many physical stores and kept consumers cautious about going out to shop.

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Fashion

Dolce & Gabbana Appoints Ex-Gucci Boss Stefano Cantino as Co-CEO

17 January 2026, Italy, Milan: Stefano Gabbana (L) and Domenico Dolce wave and smile at Milan Fashion Week. Photo: Cinzia Camela/Alamy/Pa/PA Wire/dpa
17 January 2026, Italy, Milan: Stefano Gabbana (L) and Domenico Dolce wave and smile at Milan Fashion Week. Photo: Cinzia Camela/Alamy/Pa/PA Wire/dpa
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Dolce & Gabbana Appoints Ex-Gucci Boss Stefano Cantino as Co-CEO

17 January 2026, Italy, Milan: Stefano Gabbana (L) and Domenico Dolce wave and smile at Milan Fashion Week. Photo: Cinzia Camela/Alamy/Pa/PA Wire/dpa
17 January 2026, Italy, Milan: Stefano Gabbana (L) and Domenico Dolce wave and smile at Milan Fashion Week. Photo: Cinzia Camela/Alamy/Pa/PA Wire/dpa

Italian fashion house Dolce & Gabbana on Monday named former Gucci CEO Stefano Cantino as its Co-CEO, working alongside Chair and Chief Executive Officer Alfonso Dolce.

Dolce took on the additional role of ⁠chair this year following ⁠the resignation from the position of company co-founder Stefano Gabbana, who retained his creative role.

Cantino's appointment "follows Dolce & Gabbana's ⁠growth path, oriented towards the evolution of its organizational model from a Fashion Brand to a Lifestyle Company," Reuters quoted a statement as saying.

"I am delighted to have Stefano Cantino by my side in this new phase of ⁠growth ⁠and development of Dolce & Gabbana," Dolce said.

Alfonso Dolce is the brother of Domenico Dolce, who co-founded the fashion house with Gabbana in 1985. The pair are still in charge of creative direction.

Fashion

Stefano Gabbana Resigns as Dolce & Gabbana Chair

Fashion designer Stefano Gabbana leaves Gritti Palace in Venice, Italy, June 27, 2025. REUTERS/Yara Nardi
Fashion designer Stefano Gabbana leaves Gritti Palace in Venice, Italy, June 27, 2025. REUTERS/Yara Nardi
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Stefano Gabbana Resigns as Dolce & Gabbana Chair

Fashion designer Stefano Gabbana leaves Gritti Palace in Venice, Italy, June 27, 2025. REUTERS/Yara Nardi
Fashion designer Stefano Gabbana leaves Gritti Palace in Venice, Italy, June 27, 2025. REUTERS/Yara Nardi

Stefano Gabbana, co-founder of Italian luxury fashion house Dolce & Gabbana, stepped down as chair in January, according to a company filing with the local chamber of commerce seen by Reuters on Friday.

The news was first reported by Bloomberg, which said the designer was also considering options for his roughly 40% stake in the ⁠company ahead of ⁠negotiations with its bank lenders.

Dolce & Gabbana’s lenders are seeking an injection of up to 150 million euros in fresh funds as part of a broader refinancing of 450 million euros ($525.7 ⁠million) of debt, Bloomberg reported, citing sources. It added that the company was considering the disposal of real estate and the renewal of licenses to raise money.

Dolce & Gabbana was not immediately available for comment.

Domenico Dolce and Stefano Gabbana founded the company in 1985 and they are still in charge of creative direction.

According ⁠to ⁠the filing, Gabbana, 63, informed the company in December that he intended to step down as chair effective January 1. Chief Executive Alfonso Dolce, the brother of co-founder Domenico Dolce, was appointed as the new chair.

In the past the company did not rule out the possibility of a minority investor or stock market listing.

Fashion

Fashion Fund Unveils New Identity as Saudi Arabia's First Fashion Investment Fund

The Fashion Fund unveiled its new identity under the name “ZYA Fund. (SPA)
The Fashion Fund unveiled its new identity under the name “ZYA Fund. (SPA)
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Fashion Fund Unveils New Identity as Saudi Arabia's First Fashion Investment Fund

The Fashion Fund unveiled its new identity under the name “ZYA Fund. (SPA)
The Fashion Fund unveiled its new identity under the name “ZYA Fund. (SPA)

The Fashion Fund unveiled its new identity under the name “ZYA Fund,” marking Saudi Arabia's first private equity fund dedicated to the fashion sector. The fund was established through a partnership between the Cultural Development Fund (CDF) and Merak Capital.

The Fund's Board of Directors held its inaugural meeting, bringing together local and international leaders and experts from culture, fashion, investment, and the creative industries, the Saudi Press Agency said on Thursday.

The board is chaired by Vice Minister of Culture and Vice Chairman of the Fashion Commission Hamed Fayez, with CEO of the Cultural Development Fund Majed Alhugail serving as vice chairman.

Board members include Founder and Chief Executive of Merak Capital Abdullah Altamami, CEO of the Fashion Commission Burak Cakmak, and Chairman and Chief Executive of Turmeric Capital Ravi Thakran.

Altamami said the fund aims to channel capital into high-potential opportunities across the fashion value chain, supporting Saudi brands with the capacity to expand regionally and globally.

With a total investment size of SAR300 million, the fund is anchored by CDF, which holds a 40% stake, while Merak Capital acts as the fund manager.

ZYA Fund will invest across the fashion sector value chain, including design and production, supply chains, e-commerce, and beauty, enabling Saudi brands to scale and expand.

The initiative reflects efforts to build an integrated fashion ecosystem and enhance the sector's attractiveness as an investment destination. It also supports the objectives of the National Culture Strategy under Saudi Vision 2030.