Amazon, Future Group seal deal
Global internet retailer Amazon.com and India’s Future Group have sealed a strategic partnership to sell Future Group’s merchandise online.
The partnership will initially focus on Future’s Group fashion brands and will subsequently cover all other categories.
In a statement released Monday, the two companies said that 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, and benefit in making a purchase decision through rich product content, secure payments, fast delivery and easy returns on the www.amazon.in platform.
Future Group has more than 40 brands and 10,000 unique styles which will be exclusively retailed online through Amazon.in.
“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 – help us innovate and create functionally differentiating products and experiences. 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 Future Group CEO Kishore Biyani.
Amit Agarwal, VP and country manager, Amazon India said the e-tailer was excited to collaborate and leverage each other’s unique strengths.
“The product portfolio of Future Group, their innate understanding of the Indian consumer mind set and our ability to serve and deliver a convenient, easy, trusted and reliable delivery experience to a nationwide set of customers is a win win for all,” he said.
The two companies said the partnership will bring together the best of consumer insight from the online and offline world and create a omni-channel approach to serving customers. Amazon.in will also partner with Future Group brands in promoting the existing and new brands in markets, explore cobranding opportunities and accelerate new product development in categories not currently served by retailers. The companies will also explore synergies in areas such as distribution network, customer acquisition and cross promotions.
Future Group operates some of India’s most popular retail chains including Central, Big Bazaar, Foodhall, Planet Sports, Brand Factory, Home Town and eZone and also has allied businesses in lifestyle fashion, food and FMCG, insurance, logistics infrastructure, supply chain and skill development. The group operates around 17 million sqft of retail
space in around 98 cities and towns and 40 rural locations across India. Its retail formats attract more than 300 million customers annually and connect them to around 30,000 small, medium and large enterprises that supply products and services to its retail chains.