As one of the biggest names in the retail industry, Amazon has its fingers in many pies. It’s no surprise then to find out that Amazon may have a stake in HomeGoods, a chain of discount home décor and furniture stores.
HomeGoods is owned by The TJX Companies, Inc., which owns several other retail chains such as Marshalls and T.J Maxx. This means that, technically, HomeGoods is not owned by Amazon. However, it is worth noting that Amazon does have a significant investment in The TJX Companies.
In 2017, Amazon acquired a 5 percent stake in the company for $1 billion dollars. This move was seen as an attempt to break into the discount retail market and compete with other companies like Walmart.
While the exact terms of the deal are unknown, it would appear that Amazon does not own any shares of HomeGoods itself.
However, this doesn’t mean that Amazon has no influence over HomeGoods. With its investment in The TJX Companies, Amazon now has access to valuable data about customer shopping habits and preferences at HomeGoods stores. This data can be used to inform decisions about product selection and pricing at other retailers owned by The TJX Companies.
Amazon also has access to certain features of HomeGoods’ website and mobile app (such as product search). This could potentially give Amazon an edge in providing shoppers with personalized recommendations for products available at HomeGoods stores.
So is HomeGoods owned by Amazon? No – technically speaking – but Amazon does have a significant stake in The TJX Companies which owns HomeGoods stores. As part of this investment, Amazon gains access to valuable data about customer shopping habits at HomeGoods stores as well as certain features of their website and mobile app.