Chanel for Cheap? Why Department Stores Should Fear Amazon's Beauty Push
Watch out, department stores: Amazon.com's gunning for your beauty business … and that's not all. The online giant could redefine the prestige cosmetics industry by offering big discounts on upscale brands like Chanel and Clinique to a mass audience for the first time. It's no secret that Amazon has a habit of shaking up entire product sectors. Its pioneering Kindle e-reader forever changed the book-selling business (and helped put Borders out of business), while its low-price model has forced consumer electronics retailer Best Buy, for one, to reinvent its store concept.