Amazon's new beauty store for professionals poses threat to beauty retailers
- Shares of a number of specialized beauty retailers fell on Monday after Amazon.com Inc said it had started selling beauty products used by licensed stylists, barbers and beauticians.
Shares of Sally Beauty Holdings, which targets industry professionals, sank 17%, while those of Ulta Beauty Inc fell about 3%. Last year, U.S. pharmacy chains and drug wholesalers such as CVS, Walgreen and McKesson Corp lost billions in market value when Amazon took its first step into online pharmacy by buyingAmazon typically uses its scale and online profile to offer a wider range of products at lower prices, putting pressure on margins of existing players.
Amazon said stylists would need to upload their state-issued licenses and create a business account to buy products from the new store, which the company said would stock brands including Wella Professionals and OPI Professional.
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