Amazon says it remains fully committed to the luxury market despite “everyday essentials” accounting for one of every three products it sells. The company had an agreement with Saks Global for an online luxury store, but the beauty retailer’s bankruptcy (and subsequent disputes between the companies) ended that relationship. “We have a lot more of those luxury brands that have built presences on Amazon.com,” CEO Andy Jassy told analysts in an earnings call last week, citing the sales of L’Oreal products as an example. “(They) found that we could manage their brand presentation the right way and they’ve been very happy.”
