Future Group shares rise on pact with Amazon India

Shares of Future Retail and Future Lifestyle Fashions rose by 1.92% to 2.59% at 10:10 IST on BSE after the Future Group announced a strategic tie-up with Amazon India.

Future Retail (up 2.59%) and Future Lifestyle Fashions (up 1.92%), edged higher.

The S&P BSE Sensex was down 191.77 points, or 0.73% at 26,105.61.

Future Group and Amazon India, before market hours today, 13 October 2014, announced a strategic alliance that will leverage the strong product knowledge, extensive brand portfolio and sourcing base of Future Group, and the ecommerce platform, customer base and reach of Amazon.in. The partnership will initially focus on the Future's Group fashion brands and will subsequently cover all other categories.

Once launched, customers on Amazon.in platform can now expect the largest online stores of Future Group fashion brands Lee Cooper, Converse, Indigo Nation, Scullers or Jealous21, among others and benefit in making a purchase decision through rich product content, secure payments, fast delivery and easy returns on the www.amazon.in platform, Future Group said in a statement.

Future Group's current portfolio of over 40 brands and 10,000+ unique styles exclusively will be retailed exclusively online through Amazon.in platform. Partnership between the two organisations will bring together the best of consumer insight from the online and offline world and create the omni channel approach to serving customers. Amazon.in will also partner Future Group brands in promoting the existing and new brands in markets, explore cobranding opportunities and accelerate new product development in categories which are currently not served by retailers. The companies will also explore synergies in areas such as distribution network, customer acquisition and cross promotions, the statement said.

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