Amazon to buy Zappos
Amazon is set to buy US footwear website Zappos.com for around $927 million (£561.6m).
Zappos, which stocks thousands of footwear brands from Ugg to Clarks, has sales of around $1 billion (£606 million). It launched just 10 years ago and recently added clothing to its offer. Zappos was famous for being one of the first transactional sites to introduce a free returns policy.
Zappos does not have a UK site. It recently attempted international shipping but subsequently suspended it saying it would relaunch it when it was happy it could deliver great service to overseas customers.
Amazon already stocks footwear and apparel online, including on its UK site which carries brands like Rocket Dog, Gola and Frank Wright.
If Zappos were to come to the UK it would dramatically shake up the branded footwear market, going head to head with the likes of Schuh, Office and Sole Trader.
The transaction is due to complete this autumn.