Amazon Fashion President Cathy Beaudoin is set to leave after 8 years of stay at the company amid the current business momentum of Amazon and the present strength of the team.
The e-commerce giant released a confirmation that a key executive in the persona of Beaudoin decided to resign from the post. However, Amazon refused to disclose who will be replacing Beaudoin at the moment. The company had ended its statement in gratitude of all Cathy’s hard work and tremendous contributions.
Beaudoin joined the company back in 2008 and was tasked to handle relationship building with other brands to build Amazon’s fashion section. Since then, the company’s fashion sector unceasingly blossomed overtaking several apparel brands. Under Beaudoin’s management, AMZN has successfully penetrated the fashion world. It has victoriously acquired other sites like East Dane, MyHabit and Shopbop. With such efforts, it even ranked second to Walmart from a survey conducted by Morgan Stanley last year.
While it is indeed a surprising time to find a key executive leave the company because Amazon is set to carry out its plans in expanding its fashion business. There had been recent reports narrating that the e-commerce titan is really serious in dominating the market as it had explicitly written in a job advertisement that it aims to become the number one online shopping site for Fashion clients. It even plans to introduce its own bras as well as its very own athletic clothing line (to be called as “athleisure”).
Plus, just before the announcement about Beaudoin’s exit, the company had freshly launched its Alexa-powered device called as the Amazon Echo Look to help you look your best. This device is voice controlled and hands-free, which can take full body pictures or videos of you and then giving you a second opinion about your outfit using Style Check.
Amazon stock traded today by -37% to $937.53, which declined by 3.5 compared yesterday. Investors are on the lookout for Beaudoin’s replacement.
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