Ama­zon in­jects US $ 252 mil­lion in its In­dian arm

Apparel Online - - Retail Current -

Ama­zon, the US-based e-com­merce gi­ant, has made a stag­ger­ing in­vest­ment of

US $ 252 (ap­prox.) mil­lion in its lo­cal arm – Ama­zon Seller Ser­vices Pvt. Ltd. With this in­vest­ment, Ama­zon is march­ing ahead to sur­pass Soft­Bank, a Ja­panese multi­na­tional telecom­mu­ni­ca­tions and In­ter­net cor­po­ra­tion, to be­come the big­gest global in­vestor in In­dia’s dig­i­tal econ­omy.

The lat­est move by the e-re­tailer has come as part of its plan to in­vest US $ 5 bil­lion in the coun­try and ex­pand its busi­ness op­er­a­tions in view of the on­set of the fes­ti­val season. Mean­while, Soft­Bank has so far in­vested around US $ 4 bil­lion in In­dia, mak­ing it the big­gest for­eign in­vestor in the coun­try. Over the years, Ama­zon has emerged as the most pop­u­lar on­line des­ti­na­tion for In­dian shop­pers. This has pushed the e-re­tailer to cap­i­talise on the growth and edge past its In­dian ri­vals like Flip­kart and Snapdeal; after be­ing out­shone by Alibaba in China.

Ad­di­tion­ally, the e-com­merce leader has an­nounced to set up 41 more ware­houses or Ful­fil­ment Cen­tres (FCs) to bet­ter serve its sell­ers; im­prove de­liv­ery time; in­crease speed to mar­ket; and en­hance its stor­age ca­pac­ity in or­der to meet the mount­ing de­mand for its prod­ucts in the In­dian mar­ket.

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