After US retail giant Walmart picked up a 77% stake in India’s largest e-commerce firm Flipkart, its rival Amazon is now scouting for partners in India’s offline space.
Global e-commerce giant Amazon has started preliminary discussions with Indian supermarket, hypermarket and retail companies to buy a stake in any one of these firms, reports Business Standard.
After the announcement of the Flipkart-Walmart deal, the founder of India’s leading retailer Future Group, Kishore Biyani, indicated that he was ready to sell a 10% stake to the “strongest” global retailer.
Biyani held discussions with Amazon and Walmart. Some of the regional hypermarket and supermarket players have also held discussions with Amazon.
Amazon’s plan is initially to take a 10-15% stake in an Indian retailer and later scale up its investment.
In February, Amazon rolled out its own food-retailing business in India. It had earlier secured the Indian government’s permission to invest US$500 million in a wholly owned venture to retail locally produced and packaged food products through offline and online channels.