Amazon.com (NASDAQ:AMZN) on Thursday introduced a new business for handcrafted goods called Amazon Handmade, seen as a competitor to Etsy (NASDAQ:ETSY).
The new business, called Handmade at Amazon (www.Amazon.com/handmade), is a store featuring genuinely handmade items crafted and sold directly from artisans.
With Handmade at Amazon, customers can discover artisans from around the world, and shop local from artisans based in their community with the Amazon experience, the Seattle, Washington-based company said in a statement on Thursday.
All products available on Handmade at Amazon are factory-free and must be made by hand, the company said.
Handmade at Amazon features a variety of product categories including jewelry, home décor, artwork, stationery and party supplies, kitchen and dining, and furniture.
Shares of Amazon fell 2.2% to $529.80 at 11:25 a.m., while shares of Etsy decreased 4.9% to $13.48.