Amazon Applies for Jewelry-Line Patent

RAPAPORT... Online-titan Amazon has filed a patent application that mayindicate it is planning to create its own private-label jewelry collection. "For Keeps by Amazon," which was filed at the US Patent andTrademark Office last week, is for "online retail sales of jewelry, namelyprecious metals and their alloys and goods in precious metals or coatedtherewith," according to the filing. Amazon sells a wide variety of items on its site, from booksand clothing to bicycles and baby supplies. The e-tailer already sells jewelryfrom a number of vendors, as well as its own Amazon Collection, a range oflower- to mid-value pieces. Many luxury-jewelry retailers have yet to venture into theonline marketplace. A new line could help Amazon compete with the rise ofluxury e-commerce platforms gaining in popularity, including Net-a-Porter andFarfetch, which recently went public with an $885 million initial publicoffering (IPO). Shares in luxury-jewelry retailer Signet, which owns KayJewelers and Jared, among other brands, fell 2.6% after reports of the patentfiling, Seeking Alpha reported. Image: Amazon shipping box.