Amazon is buying a 10% stake India’s largest retailers, and this could mean that Amazon making a big push into India.
Amazon is looking on 10% stake in Indian retail king Future Retail Limited.
Behemoth, Seattle based e-commerce is reportedly in finishing stage talks with Future group, which is said to be looking a valuation of 281 million dollar. Futures portfolio has more than 1534 retail which are located in more than 400 cities and towns in India which includes different chains, Big Bazaar supermarkets among other food, home, and lifestyle brands. Such a step would be the latest hint that Amazon could be looking to push deeper into India, which is expected to host an e-commerce market that could be worth $200 billion by 2026.
This Indian Expansion could be really important for Amazon because its biggest rivals, Walmart, purchased a controlling stake in Indian e-commerce giant Flipkart for $16 billion last year.
Amazon did not immediately respond to our insider request for comment.
The discussions of acquiring a stake in India’s leading supermarket chains also comes. As Amazon is said to be intensifying its presence in the grocery space. The company is planning to start a new grocery chain that would remain separate from Whole-Foods, which it took over for 13.7 billion $ in 2017, according to reports from The Wall Street Journal. This new supermarket might combine in store shopping with online ordering, as the Times reports. Amazon could open the first store in its new chain of grocery markets in Los Angeles as soon as the end of the year, according to the Journal. The Journal, however, does not specify whether this store will combine physical and online retail as described.
