US Online store Amazon and retailer Future Group on 12 October 2014 signed a deal to jointly sell goods over the internet.
According to deal, Future group's portfolio of over 40 brands will be retailed exclusively through Amazon.in platform. The partnership will initially focus on Future Group's fashion brands and will subsequently cover all other categories.
The alliance will leverage strong product knowledge, extensive brand portfolio and sourcing base of Future Group, and the e-commerce platform, customer base and reach of Amazon.in. Both the firms will also explore synergies in areas such as distribution network, customer acquisition and cross-promotions.
Besides, Amazon and Future will also jointly develop discounting strategy and price tags on their products won't be very different from rates at stores so that both channels don't end up cannibalizing each other.
When: 12 October 2014