Amazon Buys Zappos
Jul 27 2009
Retail Wrap >>

Two darlings of the internet are joining together. Amazon.com announced last week that is has reached an agreement to buy Zappos.com, the online footwear and clothing retailer that has created rabid loyalty among its customers and employees. 

"Zappos is a customer focused company," said Jeff Bezos, founder and CEO of Amazon, in a press release. "We see great opportunities for both companies to learn from each other and create even better experiences for our customers."

Amazon's deal includes keeping the Zappos' management team in place to continue operating the business independently. Zappos' headquarters will stay in Las Vegas, NV after the deal closes in the fall.

"We are joining forces with Amazon because there is a huge opportunity to utilize each other's strengths and move even faster towards our vision of delivering happiness to customers, employees and vendors," said Tony Hsieh, CEO of Zappos. "We will continue to build the Zappos brand and culture in our own unique way, and we believe Amazon is the best partner to help us do this over the long term."

Source: www.retailwire.com, 23 July 2009