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Amazon may buy 10% in Future Retail for $600 mn, expand offline retail biz

The move comes days after Walmart acquired a majority stake for $16 billion home-grown e-commerce firm Flipkart at a valuation of around $20 billion.

Topics
Amazon  |  Future Group  |  Future Retail

BS Web Team  |  New Delhi 

Looking to expand and consolidate its presence in the Indian offline retail market, American e-commerce giant Amazon is in talks with Kishore Biyani-controlled Future Retail to acquire a 10 per cent stake in it, according to a FactorDaily.com report.

The report comes days after Amazon's global rival Walmart acquired a majority stake for $16 billion in home-grown e-commerce firm and Amazon's main rival in India, Flipkart, at a valuation of around $20 billion. With an increased burden of competition from Flipkart because of Walmart's entry into the sector, Amazon is ...

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First Published: Tue, May 22 2018. 11:38 IST
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