In its never-ending quest for growth, Amazon launched a new initiative today. Handmade at Amazon will offer exactly what it sounds like, handcrafted goods from small artisans who may have previously found a home for their business at Etsy. As CNET notes, this is at least the third new goods-based vertical Amazon has launched so far in 2015. (Amazon Launchpad and Amazon Exclusives both offer products from up-and-coming companies.)

Targeting already existing, already successful niche markets is becoming commonplace for Amazon. The company has long offered used goods from select retailers (eBay), in recent years it has expanded into online streaming media as well as original content creation (Netflix et al), and its newer Home Services marketplace allows users to hire service experts like a plumber (Angie's List). Add things like Amazon Flex (part-time, contract delivery work vaguely in the vein of an Uber or Task Rabbit service), and there's seemingly no successful online marketplace Amazon would shy away from.

Investment website The Motley Fool notes that Etsy's stock is down this morning after the Amazon announcement, but despite headlines already declaring Handmade an Etsy killer, that appears a bit presumptuous. Obviously, Amazon can offer a wider reach for both buyers and sellers. According to the company, Handmade will begin with more than 5,000 artists and more than 80,000 items for sale. Amazon also boasts nearly 280 million active shoppers compared to Etsy's 21 million. But at the start, Handmade limits the goods categories sellers can offer to "Jewelry, Home products (Art, Baby Bedding, Bath, Bedding, Furniture, Home Décor, Kitchen & Dining, Lighting, Patio, Lawn & Garden, Storage & Organization), Party Supplies, and Stationery," meaning that vintage He-Man Christmas sweater is still only Etsy's domain. And The Motley Fool notes that seller fees on Amazon (12 percent referral for each sale on Handmade) are noticeably higher than Etsy's (3.5 percent). Add to that whatever loyalty Etsy users feel towards the platform, and the likelihood is that these two potential rivals will coexist to serve different niches (perhaps those with Amazon gift cards and those without).

For its part, Etsy appears to remain confident in its business. Ars received an e-mailed statement from the company following the Amazon news.

"We believe we are the best platform for creative entrepreneurs, empowering them to succeed on their own terms," said CEO Chad Dickerson. "Etsy has a decade of experience understanding the needs of artists and sellers and supporting them in ways that no other marketplace can. Our platform attracts 21+ million thoughtful consumers seeking to discover unique goods, and build relationships with the people who make and sell them."