Future Group, Amazon enter strategic tie-up

Written by fe Bureau | Mumbai | Updated: Oct 14 2014, 08:26am hrs
India's largest modern retail firm Future Group on Monday signed a strategic alliance with world's largest online e-commerce player Amazon. The partnership aims to initially focus on retailing Future Group fashion brands. The alliance will subsequently open gates for all other categories, including food and grocery and consumer electronics.

Kishore Biyani-led Future Group and Jeff Bezos, founder of Amazon, aim to marry the strengths of their brands the strong product knowledge, extensive brand portfolio and sourcing base of Future Group and Amazons customer base and reach to leverage the huge opportunity that the Indian market offers.

In the initial phase, Future Groups current portfolio of over 40 brands will be retailed exclusively online through Amazon.in platform.

"A partnership with Amazon, which obsesses to be earth's most customer centric company, will enable us to leverage their strengths, investments and innovations in technology to reach out to wider set of consumers across India," said Kishore Biyani, Group CEO, Future Group.

In an official release, Future Group said the partnership between the two organisations will bring together the best of consumer insight from the online and the offline world to create an omni-channel approach for serving customers.

Further, the two firms will explore co-branding opportunities and accelerating new product development in categories that are currently not served by retailers. The companies will also explore synergies in areas such as distribution network, customer acquisition and cross promotions.