Must be vigilant of counterfeit luxury goods
Amazon, Inc. last week launched a new section of its site, called Handmade, to directly compete with the popular site Etsy.
Here is Amazon’s initial pitch: Handmade at Amazon is a new store on Amazon.com for invited artisans to sell their unique, handcrafted goods to our hundreds of millions of customers worldwide.
Etsy started selling artisan-made goods about 10 years ago, and went public in April of this year. Although it remains popular, with about 1.5 million sellers, Etsy’s stock price has fallen more than 50% since the IPO.
One reason cited for Etsy’s troubles is the attention it received earlier this year for permitting the sale of counterfeit luxury goods on its site, which we blogged about in June.
Since so much of the counterfeit luxury goods sold are handmade, Amazon must be especially vigilant of knockoffs being offered for sale, or they will receive the same negative attention Etsy received.
IP Lasso is working on integrating Amazon “Handmade” into our u-market coverage to complement our eBay, Redbubble and Etsy monitoring.