Amazon, the parent of Zappos, recently acquired
BuyVIP, a members-only retail club serving Europe, according to the Wall Street Journal.
The company reportedly paid $96.5 million for the business.
BuyVIP has more than 7.5 million members in Spain, Italy,
Germany, Austria, Poland, the Netherlands, and Portugal, sells high-end
clothing at discounts of up to 70%, according to its website.
The
company, which has headquarters in Germany and Spain, has more than 500
strategic partnerships with well-known international fashion and
lifestyle brands, BuyVIP said. In 2009, BuyVIP had sales of â¬70 million or approximately $96 million,
according to published reports. This year, the company is projecting
revenue of more than â¬130 million, or about $179 million.
Amazon has not yet commented on the acquisition.
The acquisition represents Amazon's first step into the high-end retail
space.
In September, Amazon purchased Amie Street, an online music store, and
in June, it bought deal-a-day site Woot. In July 2009, Amazon purchased Zappos.
