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Amazon India to solely sell Future Group fashion brands
13
Oct '14
The Badshah of retail in India – Kishore Biyani’s Future Group, has signed a deal with the world’s biggest online retailer – Amazon for its apparel portfolio.

As per the deal, Future Group’s current portfolio of over 40 fashion brands and over 10,000 unique styles, will be retailed exclusively online through the Amazon India platform.

The agreement will leverage the strong product knowledge, extensive brand portfolio and sourcing base of Future Group and the ecommerce platform, customer base and reach of Amazon in India

The deal will build on synergies of experience in online and offline business through Future Group's established brand portfolio and Amazon's nationwide reach to create significant value for customers.

The partnership will initially focus on the Future’s Group fashion brands and will subsequently cover all other categories.

Once launched, customers on Amazon.in can expect the largest online stores of Future Group fashion brands Lee Cooper, Converse, Indigo Nation, Scullers or Jealous21, among others.

“This is expected to benefit consumers in making a purchase decision through rich product content, secure payments, fast delivery and easy returns on the Amazon.in platform,” Future Group said.

"The bottom line in each of our retail success stories is "know your customer". Insights into the soul of Indian consumers - how they operate, think, dream and live - helps us innovate and create functionally differentiating products and experiences, Kishore Biyani said.

He added, “Partnership with Amazon, which strives 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."

"We are excited to collaborate, leverage each other's unique strengths and serve customers across India,” Amit Agarwal, Vice President and Country Manager, Amazon India, said.

Partnership between the two organisations will bring together the best of consumer insight from the online and offline world and create the omni channel approach to serving customers.

Amazon.in will also partner Future Group brands in promoting the existing and new brands in markets, explore co-branding opportunities and accelerate new product development in categories which are currently not served by retailers.

The companies will also explore synergies in areas such as distribution network, customer acquisition and cross promotions.

Recently, a day after Flipkart recorded its biggest single-day sale of $100 million, online retailers came under fire from offline rival - Future Group for using online marketplaces for selling products at below cost price on the back of foreign funding.

Future Group had accused online marketplaces such as Flipkart of adopting anti-competitive strategy by selling products below cost price. (AR)

Fibre2fashion News Desk - India


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