Amazon adds Future Retail to its cart

24 Août, 2019, 10:14 | Auteur: Auguste Feret
  • Amazon To Acquire 49% Stakes In Future Coupons

As far as e-commerce is concerned Amazon is at a different level altogether, and over the years, the company has aggressively expanded in new markets across the world.

Further, Amazon also has the option to buy the rest of the Future Coupons' stake between years 3 and 10 starting from now. It is also doing this to have firepower against Walmart. "This will lead to a monopoly of three-four players, and there will be a clear move towards platform play", points out Govind Shrikhande, Former MD, Shoppers Stop.

There is no doubt that this will increase the competition in the retail sector, as Amazon will get access to one of the largest brick and mortar retailers in India.

Chennai: Omni-channel trade is set to take off in the market as the biggies in physical retail and e-commerce get into a triangular fight. Meanwhile, Mukesh Ambani's Reliance Retail has 10,644 stores in over 6,700 cities.

Early this year, India revised its e-commerce rules, creating hurdles for Amazon and rival Walmart Inc's e-commerce subsidiary, Flipkart. "This acquisition will help them achieve that", said Abneesh Roy of Edelweiss. However, Amazon has a "call" option to buy the entire holding in Future Coupons between 2022 and 2029, it said, and at the same time, Biyani has agreed to certain binding agreements over the sale of the 51% stake in Future Coupons.

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The share price of Future Retail rose 2.48 percent intraday on Friday after Amazon announced that it will acquire 49 percent stake in Future Coupons, a firm owned by Future Group promoter Kishore Biyani.

"The Promoters have also agreed to certain share transfer restrictions on their shares in the Company for the same tenure, including restrictions to not transfer shares to specified persons, a right of the first offer in favour of Amazon, all of which are subject to mutually agreed exceptions (such as liquidity allowances and affiliate transfers)", Future Retail said. On the other hand, Future Group can tap into Amazon's online expertise with this deal. Future Group for the longest time has been experimenting with digital, in a bid to put in place the flawless model.

The link-up with India's No. 2 retailer by revenue underscores Amazon's ambitions in the country, after losing ground in China. One of the major costs for most companies is cost of delivery and return.

As of 30 June, the company operated 293 Big Bazaar stores. "We see FRL being the preferred partner for Amazon's grocery business".

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