Welcome Guest

Businessex.Com
Home News Kishore Biyani's Future Group, Amazon enter into strategic partnership

Kishore Biyani's Future Group, Amazon enter into strategic partnership

Tags: Kishore Biyani, Amazon, Flipkart, Future Group

October 14, 2014 | COMMENTS ( 0 )

Kishore Biyani\'s Future Group, Amazon enter into strategic partnership

Kishore Biyani-led Future Group and global retail giant Amazon on Monday entered into a strategic partnership to build on synergies of experience in online and offline businesses, as per a PTI report.

 

This comes days after Biyani complained of e-commerce companies, particularly Flipkart, of under-cutting the market and selling products at even below the cost price.

 

The alliance will leverage strong product knowledge, extensive brand portfolio and sourcing base of Future Group, and the e-commerce platform, customer base and reach of Amazon.In.

 

The partnership will initially focus on Future Group's fashion brands and will subsequently cover all other categories, Future Group said in a statement.

 

Future Group’s current portfolio of over 40 brands will be retailed exclusively online through Amazon.In platform.

 

"The bottomline 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.

 

"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," it said.

 

Commenting on the tie-up, Biyani said: "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."

 

"We are excited to collaborate, leverage each other's unique strengths and serve customers across India. The product portfolio of Future Group, their innate understanding of the Indian consumer mindset 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," said Amit Agarwal, Vice President and Country Manager, Amazon India.

 

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 company said.

 

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

Please add your comment

Rating
Not readable? Change text.
Enter the characters as seen on the image (case insensitive)
  Notify me of followup comments via e-mail   Subscribe for daily newsletter

Other NEWS

Delhi based startup i2e1 raises $5,00,000

Delhi based startup i2e1 raises $5,...

December 10, 2015

Delhi-based i2e1, a smart network player platform which aims to provide low-cost and free internet to consumers and actionable ana....

Cab aggregators collaborate with state governments to boost entrepreneurship

Cab aggregators collaborate with st...

November 06, 2015

Ola and Uber, cab aggregators have signed agreements with Rajasthan government for skill development and creation of entrepreneuri....

Phase II of startup incubator T-Hub to be operational soon

Phase II of startup incubator T-Hub...

November 04, 2015

Telangana government is planning to expand T-Hub, its ambitious incubator programme, in its second phase with about Rs 150 crore i....

Sabse Technologies receives investment from Ratan Tata

Sabse Technologies receives investm...

November 04, 2015

Global telecom carrier, Sabse Technologies Inc, started by Hotmail Founder Sabeer Bhatia today announced that Tata Sons' Chairman ....

Mobile startup BlackNGreen seeks international expansion

Mobile startup BlackNGreen seeks in...

November 02, 2015

Buoyed by a strong demand for value added services, mobile startup BlackNGreen is eyeing revenue of Rs 350 crore in the next one y....

Startups seek better future under Hay Group's programme

Startups seek better future under H...

October 30, 2015

Global management consultancy, Hay Group will help 100 selected entrepreneurs transform their startups into successful companies o....

Quintype raises USD 3.25 million for product enhancement

Quintype raises USD 3.25 million fo...

October 27, 2015

Quintype, a data-driven publishing company raised USD 3.25 million to enhance product and business development. ....

Hospitality aggregator startup Qik Stay raises $250K

Hospitality aggregator startup Qik ...

October 27, 2015

Delhi-based Qik Stay, a hotel branding and aggregator startup, has raised $250K in seed round of funding from venture capital firm....

Milk Mantra targets a turnover of Rs 150 crore this fiscal

Milk Mantra targets a turnover of R...

October 26, 2015

Odisha-based startup dairy firm, Milk Mantra is targeting a turnover of Rs 150 crore this fiscal.....

Vista Rooms creates app on Instagram, targets tier II & III cities

Vista Rooms creates app on Instagra...

October 23, 2015

Mumbai-based online budget accommodation aggregator, Vista Rooms has created an app-like experience on Instagram where travellers ....

Jiyo Natural receives funding from Indian Angel Network

Jiyo Natural receives funding from ...

October 23, 2015

Indian Angel Network (IAN) has invested an undisclosed amount in Bengaluru-based consumer health food startup, Jiyo Natural.....

​​Vodoo raises USD 1 million from SAIF Partners

​​Vodoo raises USD 1 mi...

October 15, 2015

Deals and price comparison application, Vodoo has raised USD 1 million (around Rs 65 lakh) from SAIF Partners in a seed funding ro....

IBM launches public data centre in Chennai, partners with Nasscom to boost start ups

IBM launches public data centre in ...

October 15, 2015

Technology giant, IBM today launched public data centre in Chennai to tap into growing demand from financial services and governme....

For Nasscom, PPP will boost startups in India

For Nasscom, PPP will boost startup...

October 14, 2015

In the wake of some reservations over the central government creating startup funds, Nasscom's "10,000 startups" Vice President, R....

WalmartLabs to seek partnership with Indian startups

WalmartLabs to seek partnership wit...

October 14, 2015

WalmartLabs, the digital arm of US-based retailing major Walmart Stores, is scouting for startups in India for partnership and wor....