Amazon & Future Retail join hands in agreement for business expansion
Category: #retail  By Pankaj Singh  Date: 2020-01-06
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Amazon & Future Retail join hands in agreement for business expansion

 

  • The retail giant has entered into a long-term business agreement with Future Retail to strengthen the latter’s footprint in one of the key overseas markets.
  • Under the agreement, Amazon India would emerge out as a sole authorized online sales partner for the Future Retail stores across the nation. 

The retail giant, Amazon Inc., has reportedly announced strengthening its relationship with India’s second largest retail chain, Future Retail, with an intent of supporting the latter company’s plans of penetrating in one of its key overseas markets.

The companies have officially been claimed to enter into a long term business agreement to widen the reach of Future Retail’s stores via the support of Amazon India’s marketplace. Under the pact, Amazon India would become the authorized online sales channel for the company stores including the Foodhall and Big Bazaar. In addition to that, the retail giant would list down Future Retail’s items on its two-hour delivery platform Prime Now. Apparently, this service is currently operational in only some parts of the nation including Mumbai, Delhi, Hyderabad, and Bengaluru. 

It has been reported that the companies would initially focus on the sales of grocery- a submarket on which Amazon has been working in India for a while now-, alongside the fashion and apparels, beauty products, and general merchandizes. Moreover, Future Retail would necessarily enhance its existing store infrastructure at the retail outlets to deliver seamless packaging and pickup of products ordered online through Amazon.

Speaking on the similar lines, a part of Future Retail, Future Consumer-which offers a wide range of home care, food, beauty care, and other products, has also established a long-term partnership with Amazon to secure online sales of its products through the medium.

The chairman and MD of Future Retail, Kishore Biyani reportedly quoted that the agreement would allow the company to build upon each other’s assets in the digital and physical space, letting the customers reap benefits from the best services, assortment, products, and prices.

According to sources, the companies have already launched the combined service across over 22 stores and the possible results obtained have been ‘encouraging’.

Source credit: https://www.yahoo.com/entertainment/amazon-partners-indias-second-largest-051436924.htmla



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Pankaj Singh

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Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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