Beauty retailers are said to be feeling the hit following the announcement of Amazon’s new venture into specialised products with the launch of Amazon Professional Beauty.
Shares in Sally Holdings Inc and Ulta Beauty dropped 17 percent and 2.6 percent respectively following the news as the e-tailer looked to increase its reach and target licensed professionals with the new beauty store.
Amazon Professional Beauty will be selling beauty products used by licensed stylists, barbers and beauticians.
Taking to a blog post, Steve Kann, Director of customer
driven experience at Amazon Business, said, “We are pleased to offer those in
the professional beauty industry even more selection through the convenient
shopping experience our customers love on Amazon Business.
“Stylists can find more of what they need at great prices with convenient delivery options, freeing up their time to focus on what’s important: their customers.”
While stylists will need a licence to purchase products via the store, Wall Street has voiced its concern about Amazon’s latest step into niche markets as specialised stores continue to suffer.