Offline-online marriage: Biyani’s Future ties up with Bezos’ Amazon
MUMBAI: Kishore Biyani-led Future Group has inked a deal with the world’s largest e-tailer, Jeffery Bezos-led Amazon India, to sell its private brands exclusively through the e-commerce giant’s markeplace, the latest in a series of such moves by India’s brick-and-mortar retailers.
Croma, the electronics chain owned by the Tata Group, signed a similar agreement with Snapdeal.com last month.
The partnership will initially focus on Future Group’s fashion brands such as Lee Cooper, Converse, Indigo Nation, Scullers, Jealous21 and will be expanded to other categories including electronics, home and food products.
“Future Group’s current portfolio of over 40 brands and 10,000-plus unique styles will be retailed exclusively online through amazon.in,” the company said on Monday.
Future group operates some of the country’s biggest retail chains including Big Bazaar, ezone, Brand Factory and Home Town and Biyani had earlier criticised Flipkart and other e-commerce retailers in India for the deep discounts they offered during a promotional sale recently, saying it would hurt other retail channels.
The two companies will also explore synergies in distribu tion, customer acquisition and cross-promotions among other areas. Apart from selling Future Group’s existing brands online a new line of products will also be developed.
“A partnership with Amazon will enable us to leverage their strengths, investments and innovations in technology to reach out to a wider set of consumers across India,” said Kishore Biyani, CEO, Future Group.
Analysts said the deal will boost Future Group’s sales and profits, given Amazon’s strong distribution network.