Amazon.com, Inc. (NASDAQ: AMZN) announced today that it will be purchasing fashion and lifestyle company, BuyVIP.com. BuyVIP.com has over six million members in Spain, Germany, and Italy as well as other countries around the world. The online buying community offers its customers time-limited campaigns for top fashion brands and styles at inexpensive prices compared to the competition.
“We are excited about joining the Amazon family," said CEO of BuyVIP.com, Gustavo Garcia Brusilovsky, who believes the merger will allow his company to offer its members an even broader selection of high-quality products.
Amazon.com's stock has been a high-flier. The stock has pulled back from it's recent 52-week high, but still maintains a 64 PE ratio as the company expands at a rapid pace.
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