Amazon makes new upscale move with 'Luxury Stores'

Amazon unveiled plans Tuesday for a new online luxury "shopping experience" that will seek to connect well-heeled consumers and high-end brands.

The first partner for the new online "Luxury Stores" is Oscar de la Renta, the US fashion house that will show its 2020 collections, with more brands expected in the coming weeks, according to an Amazon statement.

The move is not Amazon's first foray into luxury goods but seeks to create a new online shopping portal with top brands and upgraded technology offering 360-degree views for shoppers.

Luxury Stores will operate on an invitation-only basis for Amazon Prime members.

Within the Amazon app, the new portal will offer improved graphics and visualization, and allow brands to sell as a "store within a store," controlling their own inventory, selection and pricing.

"We are always listening to and learning from our customers, and we are inspired by feedback from Prime members who want the ability to shop their favorite luxury brands in Amazon's store," said Christine Beauchamp, president of Amazon Fashion.

"We are excited to offer luxury brands the services and technology to build an inspiring, elevated customer experience."

The move comes with Amazon having boosted online sales in many sectors in recent months during the coronavirus pandemic, which has closed many physical stores and kept consumers cautious about going out to shop.