Earlier this month, Amazon launched the first big-budget advertising campaign for its new own-label Find fashion brand. The Find collection, which includes hero pieces such as a red, floral wrap dress and hot pink sock boots, as well as more timeless pieces such as a plaid trench coat, looks to be targeting the same everyday consumer of high street fashion brands such as M&S and Next.
However, Next chief executive Lord Wolfson insists his business isn’t in competition with Amazon or looking to retaliate against any of its recent fashion-focused marketing activity.
Speaking yesterday (14 September) during a half-year results briefing, Wolfson told Marketing Week: “It would too easy to slip into the terrible analogy of war; there’s no point. We would never retaliate against them [Amazon], the only thing you can do from the competition is learn from them.
“Over the last 15 years we’ve had the supermarkets move into fashion, the emergence of Primark, internationalisation – there’s always new competition coming to the market to challenge our position and always something we can learn from them.”
Still searching for momentum
Shares in Next rose as high as 10% off the back of its half-year results after the brand upped its full-year profit estimates to between £687m to £747m, compared to its previous lower prediction of between £680m to £740m. Investor optimism has also improved due to the…