India's largest retailer, the Kishore Biyani-led Future Group, has announced a strategic partnership with the world's largest online retailer Amazon, under which the US e-tailer will sell the Indian retail group's products online.
The partnership will initially focus on Future Group's fashion products, which include over 40 brands and over 10,000 unique styles that would be retailed exclusively through Amazon.in platform. This will subsequently increased to cover all other categories.
The two also proposed to introduce new brands under the online partnership, explore cobranding opportunities and accelerate new product development in categories which are currently not served by retailers.
Once operational, customers on Amazon.in platform can buy Future Group's fashion brands Lee Cooper, Converse, Indigo Nation, Scullers and Jealous21, among others.
''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 – helps us innovate and create functionally differentiating products and experiences," said Future Group CEO Kishore Biyani.
"[The] Partnership with Amazon, which claims to be planet's most customer-centric company, will enable us to leverage their strengths, investments and innovations in technology to reach out to wider set of consumers across India,'' Biyani added.
Future Lifestyle's extensive brand portfolio will offer Amazon a major sourcing base while the Future Group will get access to the wider customer base and reach of Amazon.in.
Once launched, customers on Amazon.in platform can expect to buy Future Group fashion brands Lee Cooper, Converse, Indigo Nation, Scullers or Jealous21, among others online, making a purchase decision through rich product content, secure payments and fast delivery.
''We are excited to collaborate, leverage each other's unique strengths and serve customers across India. The product portfolio of Future Group, their innate understanding of the Indian consumer mind set and our ability to serve and deliver a convenient, easy, trusted and reliable delivery experience to a nationwide set of customers is a win win for all,'' said Amit Agarwal, vice president and country manager, Amazon India.
The partnership between the two organisations will bring together the best of consumer insight from the online and offline world and create the omni channel approach to serving customers.
The companies will also explore synergies in areas such as distribution network, customer acquisition and cross promotions.