Amazon to Become Authorized Online Sales Channel for Future Group
E-commerce giant, Amazon, said that it has signed long term business agreements with the Future Group. The deal is expected to expand the reach of Future Group’s retail stores and consumer brands with the help of Amazon. Last year, Amazon had agreed to buy a 49 percent stake in Future Coupons ltd. which holds a stake in Future Retail Limited (FRL).
“FRL and Amazon have signed two agreements focusing on key categories- grocery and general merchandise, and fashion and footwear,” according to a statement released on Monday. “Amazon India will also become the authorized sales channel for FRL stores and FRL will ensure participation of its relevant stores and programs on the Amazon India marketplace,” the statement added
Reaching a Wider Customer Base
Future Consumer Ltd. (FCL) is looking for distribution of its portfolio of brands online; therefore they have signed a long term agreement with Amazon Retail India Pvt Ltd. FCL includes brands such as Tasty Treat, Voom, Dreamery, Karmiq, Mother Earth, Kara, CleanMate and others. FRL will increase existing store infrastructure at its retail outlets for seamless packaging and pickup of online ordered products. FRL and Amazon India have already introduced this service across 22 stores. Both companies have planned to cover the entire FRL store chain based on agreed timelines.
“FRL will leverage its existing infrastructure, strong product knowledge and extensive brand portfolio resulting in higher store productivity and improved margins,” as per the statement. Currently, FRL is popular among over 350 million people across its retail network. Amazon India’s marketplace will help FRL to reach a wider customer base. On this partnership, Ashni Biyani, Managing Director of FCL said the collaboration will expand the reach of its brands to new sets of customers on Amazon India’s online marketplace. FRL has also planned to list stores like Big Bazaar, and Foodhall in more cites on the Amazon India marketplace.
