Sadie Keljikian, Stern Corporate Services Group
Amazon’s Handmade program is extending into event-focused brands.
Amazon Handmade launched in 2015 and serves as an Etsy-reminiscent site within Amazon for consumers who want handmade or custom goods from domestic artisans. Handmade started with a focus on jewelry, party supplies and stationery, but has recently expanded its offerings to include shoes, clothing and pet supplies. When Handmade announced plans to expand further, Etsy’s shares fell 3 percent.
Although Etsy’s been a leader in handmade craft-ecommerce since its beginning in 2005, the company’s been struggling since 2015 to keep sales up in light of stiff competition in craft sales from Amazon and Instagram. Black-and-White Capital, a hedge fund that owns 2 percent investment in Etsy, have urged the company to consider a sale after the company recently cut its staff by about 22 percent.
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