Amazon is introducing two home furnishings brands, the latest extension of the company's growing private label selection.
Amazon’s foray into making its own goods is headed for the home.
The online retailer on Tuesday unveiled furniture brands — Rivet and Stone & Beam — sold exclusively on Amazon.com. It’s the company’s latest expansion into private-label goods — contract-manufactured items typically made for a single retailer that carry a lower price than name-brand items.
The Seattle company launched the AmazonBasics house brand, specializing in small items such as batteries, headphones and iPhone chargers, in 2009. Its ambitions have grown dramatically since, including the Happy Belly brand in food, Goodthreads in clothing, and Presto! in cleaning products.
Amazon describes Rivet as “stylish and versatile mid-century modern furniture and décor,” and the retailer’s website had a range of sofas, rugs and light fixtures. Stone & Beam, the company said, emphasizes comfort and durability.
The company isn’t launching new products for its older Strathwood outdoor furniture and lighting line.
Home goods e-retailer Wayfair was asked on a conference call with financial analysts last week about intensifying competition from Amazon.
Chief Financial Officer Michael Fleisher said he thought Wayfair still held advantages over Amazon in selection, distribution and delivery.
But he didn’t mince words in his analysis of his rival’s ambitions: Amazon is “obviously someone who wants to own all physical goods [in] e-commerce,” he said. “So I don’t expect them to go away.”
Shares of Wayfair fell 5.9 percent Tuesday. Other home furnishing retailers also slumped, with Williams-Sonoma off 4.1 percent, and Kirkland’s down 4.4 percent. Amazon stock, meanwhile, rose 0.2 percent.