if you can't beat 'em...
Starting Wednesday, Kohl's department stores in 10 locations across Los Angeles and Chicago will sell Amazon smart home products. The brick-and-mortar stores will also accept returns for Amazon online purchases.
Kohl's and Amazon have been working on this retail partnership since the spring. "I really do think it's an example of two companies that can leverage each other's strengths," said Michelle Gass, Kohl's chief merchandising and customer officer.
More than 70 Kohl's locations will eventually accept Amazon returns, which will be handled by Kohl's employees, but the kiosks selling Amazon products within the department stores will be operated by Amazon. Kohl's joins Sears and Best Buy as prominent retailers who have entered into some type of partnership with Amazon.
Although Kohl's rejected speculation that it may get purchased by Amazon, the retailer's stock rallied 7.7 percent from announcement of their partnership until the end of September. Some traders are reportedly wagering on a stock price increase resulting from the company's potential sale. Amazon recently purchased the grocery chain Whole Foods and now sells Amazon smart home products in the high-end supermarkets.