Biznextindia Bureau: Kishore Biyani controlled Future Retail Ltd (FRL) and global retain giant Amazon India had entered into long-term business agreements for expanding the reach of FRL stores and consumer brands through the Amazon India marketplace. This arrangement will now build on the robust offline and online capabilities of both organizations creating significant value for customers.
FRL will leverage its existing infrastructure, strong product knowledge and extensive brand portfolio resulting in higher store productivity and improved margins. Currently FRL attracts over 350 million footfalls across its retail network, and Amazon India’s marketplace will enable FRL to reach a wider customer base. This collaboration will drive synergies through FRL’s well-entrenched consumer-centric national network and Amazon India’s tech enabled distribution footprint.
As part of the agreements, Amazon India will become the authorized online sales channel for FRL stores and FRL will ensure the participation of relevant FRL stores on the Amazon India marketplace, and its programs. Both the companies have signed two agreements focusing on key categories like Grocery and general merchandise and Fashion and footwear.
As per the pact, FRL will augment existing store-infrastructure at its retail outlets for facilitating seamless packaging and pickup of products ordered online. FRL and Amazon India have already launched this service across 22 stores. Both companies plan on rolling this out across the entire FRL store chain based on agreed timelines.
“This arrangement will allow us to build upon each other’s strengths in the physical and digital space so that customers benefit from the best services, products, assortment and price” said Kishore Biyani, Chairman & Managing Director, Future Retail Limited.