By default the Conda client uses two URLs to pull packages:
When using the quick setup in Artifactory, only "repo.anaconda.com" is used. This upstream remote repository does not use labels. To get labels to work, create a new remote Condarepository going to https://conda.anaconda.org with no extra URL snippets:
Afterward add this new remote to an existing Conda virtual repository, so that there are 2 remote repositories going to the 2 URLs. As the following screenshot:
Then follow the Set Me Up guide for the virtual, this involves creating a .condarc file with the Artifactory URL as the only channel. Once this is done, Conda label installations will work as expected against all the URL that you have added.