Amazon.com will be acquiring members-only fashion and online buying community BuyVIP.com.
“BuyVIP.com offers their members an exciting selection of top fashion and lifestyle products at extraordinarily low prices,” Greg Greeley, Amazon vice president European Retail, said.
Traditionally, BuyVIP.com offers its members items at prices generally 30 to 70 per cent below the retail sales price.
“We are excited about joining the Amazon family and believe doing so will help us further grow our presence in Europe and allow us to offer our members an even broader selection of high-quality products,” Gustavo Garcia Brusilovsky, chief executive officer of BuyVIP.com, said
The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close in the fourth quarter of 2010.