look news india
News India Live, Digital Desk: Losses and profits go on in the business world, but when one of the world’s largest e-commerce companies i.e. ‘Amazon’ publicly expresses displeasure about a deal, then understand that there is nothing black in the pulse but the entire pulse is black. Nowadays, a news is spreading very fast in the global market that Amazon is very unhappy with its partner luxury brand ‘Saks Global’.
The resentment is so deep that the matter has now directly reached the point of wastage of millions of dollars. In fact, when Amazon joined hands with this luxury giant, it was expected that together they would capture the online luxury market. But exactly the opposite happened.
After all, why is Amazon furious?
If reports are to be believed, Sachs Global has ‘wasted’ hundreds of millions of dollars (billions of rupees) in less than a year. Amazon says that given the speed at which the money was spent, the results were absolutely zero. It is a nightmare for any big investor to invest money in a business and that money just flows away without any profit.
behind the scenes conflict
Experts say that this fight is not only about money but also about the method of management. On one hand, Amazon is known for its economy and ‘data-driven’ approach, while on the other hand, the world of luxury brands is based on glitz and huge expenses. It seems that instead of coordination between these two, a big rift has formed. Amazon feels that instead of using their investment properly, Sachs Global squandered it without thinking.
What will be its further impact?
The impact of this dispute will not be limited to just these two companies. In the coming time, it is possible that Amazon may withdraw its hands from this deal, or there may be large-scale changes within Saks Global. Anyway, nowadays the union of tech and luxury is not as easy as it was thought earlier.