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Amazon to buy 10% stake in Future Group to strengthen its offline presence in India

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By Taruka Srivastav, Reporter

May 23, 2018 | 2 min read

Amazon is reportedly in talks to acquire a 10% stake, worth $500-600m, in Indian company Future Group as it readies itself to expand in retail.

Amazon to buy 10% stakes in Future Group to strengthen its offline presence in India

Amazon to buy 10% stakes in Future Group to strengthen its offline presence in India / Amazon

Future Group which currently owns brick and mortar retail shops like Big Bazaar and Easy Day is valued to be $6 bn (Rs. 40,872 crore) according to Factor Daily.

The news comes after Amazon's rival Walmart acquired Indian e-commerce giant Flipkart.

However, Amazon’s India business could be valued at $16 bn right now and is expected to reach $70 bn in gross merchandise volume (GMV) and $11 bn in net sales by 2027, according to a report by Citi Research.

Amazon India previously invested in local fashion retailer Shoppers Stop, taking a 5% stake in the business.

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