Amazon to Take Over Zappos
World's biggest Internet retail company, Amazon.com, bared its plan to buy some $927.9 worth of stocks from online retailer and shoe manufacturer Zappos.Com.
Amazon, through the said agreement, would further expand its claim as the largest online retailer in the world.
In a bid to further expand its retail empire, Amazon.com announced its plans to buy the biggest online shoe retail company Zappos.com Inc for more than $927 million dollars worth of stocks.
Zappos has a large number of loyal customers and grossed more than a billion dollars last year.
Analysts believe that Amazon has made the aggressive move and has benefitted greatly on the acquisition of Zappos, which is high-regarded for its attentive customer service. It is also best known for its free return policy and free shipping, which is well-known to most of the online shoppers.
But despite the $927.9-million buyout in stocks, Zappos will remain under the company management and not Amazon.
Amazon bought the online shoe retail company following a disappointing sale of its very own endless.com after a two-year war against Zappos.
“If you cannot beat them, then buy them,” this is the statement of Forrester Research analyst Sucharita Mulpuru.
Amazon has begun its online business selling books. To date, the company has expanded into a multi-billion industry and now offers multiple ranges of products by allowing third-party merchants to sell or showcase their products in the website.
The company has even overtaken other online competitors like eBay and brick-and-mortar.
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