Amazon shares soar and so does its fashion credibility

Online retailer Amazon posted a surprise quarterly profit last week sending its share price soaring while its fashion credibility took a steep climb too as it revealed actress and model Suki Waterhouse (pictured) and its new fashion studio in East London.

In the three months to 30 June 2015 the online retailer, which began life selling books 20 years ago, reported a profit of $92m on sales up 20% at $23.3bn. The market reacted positively to the unexpected profit – typically Amazon hasn’t reported a profit and has reinvested all it makes – which sent its share price up almost 10% to $529.42. This resulted in a market capitalisation of $246.5bn - more than the world’s largest retailer by sales Walmart.

The positive results came on top of the opening of its giant 46,000 sq ft photography studio in Shoreditch. The space, which contains 22 photography bays as well as editing and creative spaces, will serve its burgeoning fashion business. In the three months to 30 June, Amazon sold 30m items of clothing.

Suki Waterhouse attended an event to mark the opening of the space and was revealed as Amazon fashion’s ambassador for the upcoming Autumn season. According to Amazon Fashion EU vice president Sergio Bucher the move has been designed to assist the e-commerce giant in its aim to become the “best place to buy fashion online”.

The space played host to an event staged by Dazed & Confused over the weekend. The Dazed Fashion Forum included a stellar line-up of fashion industry speakers including Dazed co-founder Jefferson Hack, Kim Jones menswear director of Louis Vuitton, designer Gareth Pugh and Diesel creative director Nicola Formichetti.