Amazon Is Releasing a Gin!
Bezos Booze is upon us! Amazon’s first in-house spirit is called ‘Tovess,’ and it promises to be a refreshingly profitable dry gin, poised to dominate with its e-commerce privilege.
The Brits have gone gin mad, so this is the perfect time for Jeff Bezos to make a splash in the UK market. At £24.99 a 70cl bottle, Tovess dry gin is advertised as a summer drink, but heck, even Amazon admits you can drink it “any time of the year.” It’s equipped with all the bells and whistles of a premium beverage, but investors still have one major question; “why?”
Because Amazon is transitioning from customer-obsessed to money-obsessed, and private label products are more profitable, simple as that. They command fatter margins, can build brands, and in Amazon’s case, will bolster bargaining power against countless independent sellers. Given that Amazon already owns the world’s largest e-commerce website, selling some of its own wares sounds like a pretty good idea, don’t ya think!
The company has already taken back its special treatment of other sellers, clearing the way for its line of in-house innovations. With the launch of Amazon Accelerate last year, Jeff Bezos called on manufacturers to make him products for the “family of Amazon brands.” According to SunTrust Robinson Humphrey, that family could be reeling in $25 billion in top-line sales by 2022, so investors, watch out!