New Delhi, February 21: E-commerce giant Amazon is set to launch a low-priced fashion and lifestyle vertical called 'Bazaar' in India. According to a communication the company has sent to its partners, the new vertical Bazaar is a special store where no "extra charges" will be imposed on vendors supplying unbranded and "trendy" fashion and lifestyle products, reports TechCrunch.

"Your products will be featured in a special store on Amazon, making them easy for customers to find," the company wrote in the communication. The items sold via Bazaar will be priced under Rs 600, the report noted. In the communication, the e-commerce giant also mentioned that Bazaar will offer sellers access to tens of millions of customers, "hassle-free" delivery and levy zero referral fee. BYJU’s Rights Issues To Rise 'USD 200 Million' at 99% Valuation Cut Has Been Fully Subscribed: Report

Meanwhile, net sales for Amazon increased 14 per cent to $170 billion in the holiday quarter that ended December 31, 2023, compared with $149.2 billion in the fourth quarter of 2022. Amazon CEO Andy Jassy said the past holiday season was "record-breaking." upGrad Uses AI To Translate Popular Certs and Bootcamps Into Local Languages for Freshers and Working Professionals.

Net income increased to $10.6 billion in the fourth quarter of 2023, compared with $0.3 billion in the fourth quarter of 2022. Amazon Web Services (AWS) segment sales increased 13 per cent year-over-year to $24.2 billion.

(The above story first appeared on LatestLY on Feb 21, 2024 01:26 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website