Amazon has taken huge step after Flipkart-Walmart’s deal
Amazon seems little concerned about looming Flipkart-Walmart deal as it will pose a serious challenge to Amazon India. On the other hand, Amazon Inc., the US-based global e-commerce retailer, has done biggest investment worth Rs. 2,600 crores into its Indian unit.
Amazon has so far made a total investment of more than Rs 20,000 crore in its India unit. However, researcher believed that the latest investment is part of Amazon’s routine investment in its India unit.
The biggest rivalry between Flipkart and Amazon is going on as both are giving tough competition in having the biggest share in the market.
Under its 5 billion US Dollar investment plan, the e-retailer invested around Rs. 1,680 crores in Amazon Seller Services Pvt. Ltd. in July last year. After that, the retailer made an investment of Rs. 1,620 crores in October and Rs 1,950 crore in January this year.
According firm Forrester reseach, Flipkart, established by Sachin Bansal and Binny Bansal, ex-employees of Amazon in 2007, controls nearly 40 per cent of India’s online retail, ahead of Amazon.
The e-retailer expressed its eagerness to buy a stake in Flipkart. It is being speculated that deal once finalized give an edge to Flipkart to make competition more tough for Amazon India.
– Apparel and Textile News, Apparel Talk, Indian Apparel