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Amazon axes some private label brands as part of wider cost cuts



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Amazon workers sort packages for delivery in New York, July 12, 2022.Michael M. Santiago | Getty Images News | Getty ImagesAmazon is cutting some of its private label brands as part of a broader effort to rein in costs, the company confirmed to CNBC.In addition to the plethora of products sold by third-party sellers, retailers and household names, Amazon also sells goods produced in-house, similar to a store brand. The number of Amazon’s private label brands has expanded rapidly over the years to include things like Goodthreads apparel, Rivet furniture and Presto! paper towels, as well as Amazon Basics batteries.Matt Taddy, vice president of Amazon Private Brands, said in a statement that the company has looked to eliminate some in-house products after determining they didn’t resonate with customers.”We always make decisions based on what our customers want, and we’ve learned that customers seek out our biggest brands – like Amazon Basics and Amazon Essentials – for great value with high quality products at great price points,” Taddy said.The company didn’t say how many private brands it plans to eliminate. Dozens of brands are expected to be cut, leaving Amazon with fewer than 20 house brands, according to The Wall Stre …

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