Amazon India to invest in offline fashion brands to combat Flipkart
To step up to its arch e-commerce Indian rival Flipkart, which is aggressively expanding its presence, Amazon is to forge an alliance with a number of offline fashion brands.
Amazon India to invest in offline fashion brands to combat Flipkart
Amazon is in talks with Tata group, which runs e-commerce site Tata Cliq and retail brand Westside for investment as reported by Livemint. Amazon India recently acquired 5% stakes in retail store Shoppers Stop and plans to continue with the strategy to strengthen its presence.
Flipkart which own e-commerce platforms Myntra and Jabong, controls 60-70% of online fashion retail in India. Myntra too signed partnerships with fashion brands such as Mango, Esprit and Chemistry. Flipkart is also reportedly in talks to invest in Indian e-commerce brands to gain edge of Amazon.
Amazon, which was named as the third most authentic brand in India, powered ahead of e-commerce rivals to reign supreme over Indian audience with festive sale.