MUMBAI: Ecommerce in India is about to enter a new phase after Amazon, the world's largest online retailer, announced a strategic alliance with Future Group, the Indian conglomerate with interests ranging from fashion to food.
In a statement announcing their partnership, Amazon India and Future Group said they would be able to leverage the best of consumer insight from the online and offline world and create an omnichannel approach to serving customers.
Once launched, customers on Amazon.in will be able to access the largest online stores of Future Group fashion brands, such as Lee Cooper, Converse and Indigo Nation, Inside Retail Asia reported.
Customers will also benefit from rich product content, secure payments, fast delivery and easy returns on the Amazon platform, the companies said.
In addition, Future Group's portfolio of more than 40 brands and 10,000 unique styles will be sold exclusively via the Amazon platform.
Amazon.in will also partner Future Group brands to promote existing and new brands, explore co-branding opportunities and accelerate new product development in categories which are currently not served by retailers, they added.
Kishore Biyani, CEO of Future Group, attributed the success of both companies to their insights into customers and their willingness to innovate.
"The bottom line in each of our retail success stories is 'know your customer'. Insights into the soul of Indian consumers – how they operate, think, dream and live – help us to innovate and create functionally differentiating products and experiences," he said.
"Partnership with Amazon, which obsesses to be earth's most customer-centric company, will enable us to leverage their strengths, investments and innovations in technology to reach out to [a] wider set of consumers across India," he added.
Data sourced from Inside Retail Asia; additional content by Warc staff