Kishore Biyani-led Future Retail Limited (FRL) has announced a long-term business agreement with Amazon India to expand the reach of Future Retail stores and consumer brands of the company through Amazon India.
FRL said in a statement that it will leverage its existing infrastructure, product knowledge and extensive brand portfolio resulting in higher store productivity and improved margins.
Currently FRL attracts over 350 million footfalls across its retail network, and Amazon India’s marketplace will enable FRL to reach a wider customer base.
As part of the agreements, Amazon India will become the authorized online sales channel for FRL stores and FRL will ensure the participation of relevant FRL stores on the Amazon India marketplace, and its programs.
“Amazon and Future Retail share common values of serving customers everywhere in the best possible manner. This arrangement will allow us to build upon each other’s strengths in the physical and digital space so that customers benefit from the best services, products, assortment and price,” said Kishore Biyani, Chairman and Managing Director, Future Retail Limited.
FRL will list on the Amazon’s grocery app Prime Now, allowing customers to get food, grocery and general merchandise delivery within two hours in Delhi, Mumbai, Bengaluru, and Hyderabad. FRL will soon list stores like Big Bazaar, and Foodhall in more cites on the Amazon India marketplace.
FRL and Amazon India signed two agreements focusing on key categories: Grocery and general merchandise; and fashion and footwear.
FRL also announced that it will augment existing store-infrastructure at its retail outlets for facilitating seamless packaging and pickup of products ordered online. FRL and Amazon India have already launched this service across 22 stores with wider scale up already underway. Both companies plan on rolling this out across the entire FRL store chain based on agreed timelines.
“We are excited about the business collaboration with FRL. FRL’s national footprint of stores offering thousands of products across fashion, appliances, home, kitchen and grocery will now be available to millions of customers shopping on Amazon.in, in hours across 25+ cities,” Amit Agarwal, SVP and Country Head, Amazon India said in a statement.