Amazon, Future Group Enter Into Strategic Partnership
Amazon India and Future Group have announced a strategic alliance under which the e-tailer will sell the retail group's products online. The partnership will initially focus on the Future Group's fashion brands and will subsequently cover all other categories.
Once operational, customers on Amazon.in platform can buy Future Group's fashion brands Lee Cooper, Converse, Indigo Nation, Scullers or Jealous21, among others. Future Group's current portfolio of over 40 brands will be will be retailed exclusively online through Amazon.in platform.
Future Retail is the flagship company of Future Group and owns the Big Bazaar chain of retail stores. Future Lifestyle Fashions has a portfolio of over two dozen fashion and lifestyle brands.
"Partnership with Amazon will enable us to leverage their strengths, investments and innovations in technology to reach out to wider set of consumers across India," commented Kishore Biyani, Group CEO of Future Group, on this tie-up.
The shares of Future Lifestyle Fashions were up nearly 3 per cent while that of Future Retail rose 2.5 per cent, outperforming the Sensex which was down 0.7 per cent.
Amit Agarwal, Vice President and Country Manager, Amazon India, said, "We are excited to collaborate, leverage each other's unique strengths and serve customers across India." (With Agency Inputs)
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