E-commerce company Amazon India and it's joint venture partner Patni Group-owned Zodiac Wealth have decided to delist online seller Appario Retail from the company's online platform, a joint statement said on Monday.
An official source told PTI that the move is aimed to avoid any conflict of interest and is being taken voluntarily.
Appario is a wholly-owned subsidiary of Frontizo which is a joint venture between Amazon India and Patni group-owned Zodiac Wealth Management LLP.
"Amazon and India's Patni group-owned Zodiac Wealth Management LLP have agreed to renew their joint venture Frontizo Business Services Pvt. Ltd. Partners have decided that Appario Retail Pvt. Ltd., a wholly-owned subsidiary of Frontizo, will cease to be a seller on amazon.in and amazon.in/business within the next 12 months," a joint statement said.
Appario became one of the largest sellers on Amazon after Cloudtail—a joint venture firm between Infosys founder NR Narayana Murthy and Amazon—was shut down.
"The partners will continue to explore new business opportunities, including helping businesses across India to scale up their online presence," the statement said.
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