27 Feb Amazon acquires Madison-based Shopbop
Madison, Wis. — Amazon.com said on Monday it is acquiring Shopbop, a Madison-based retailer of designer clothing and accessories for women. Shopbop started up in 1999 as a store on Gorham street called Bop, which is still open. Its web site will continue as a standalone operation after the acquisition, but Amazon.com will also feature its products.
Terms of the deal were not disclosed. With the acquisition, Amazon boosts its selection of designer clothing, which it may hope will play a part in reversing downward earnings trends. The Seattle-based company missed its fourth-quarter targets because costs grew faster than revenues.
“All of us at Shopbop.com have worked hard to make our company a leading destination for fashion consumers,” CEO Bob Lamey said in a press release. “We’re very happy to have the support, experience and resources of Amazon to take the Shopbop brand and business to new levels.”