Posted 05/29/2015 at 8:15 AM
Posted 2 years ago
In its quest to be the premier brand for all of their customers’ needs, Amazon is making plans to embark on doing business in a new field: groceries.
The global online retailer is looking to go toe-to-toe with other companies such as Target, Costco Wholesale and others by engaging food manufacturers to create their own private food label.
These manufacturers include TreeHouse Foods, a top company in the field.
The move is a major expansion of their Elements portfolio that offered diapers at one point as well as baby wipes to Prime subscribers.
Amazon reportedly also filed for trademarks on a slew of products in close to two dozen categories that include items ranging from razor blades to soups and pastas.
Amazon is looking to grab a share of the lucrative market that in-house brands have become thanks to shoppers being more fiscally conscious and taking advantage of the bargains offered by in-house brands like Costco’s Kirkland Brands and Target’s Archer Farms.
The company offered no comment on the reports.