Amazon invests Rs 238 crore into Indian food retail arm

The investment has come through two of Amazon's entitiesincluding Amazon Corporate Holdings, a Singapore-based entity engaging in food retail across ASEAN countries, and Amazon, the US-based parent company.
Amazon

Amazon has invested Rs 238 crore into Amazon Retail India (ARIPL), the Indian unit of Amazon that manages the supply of grocery and food items. The investment has come through two of Amazon's entities including Amazon Corporate Holdings, a Singapore-based entity engaging in food retail across ASEAN countries, and Amazon, the US-based parent company. 

The company said, "Our food retail business currently serves customers in 100+ cities across India. We are on track to scale the business further by adding more selection and expanding reach to serve customers in more pin codes."

Earlier, Amit Agarwal, Head of Amazon India, had said that Amazon expects groceries and household products to account for over half of its business in India in the next five years, as it moves to broaden offerings in the segment and enter into areas like fresh produce.

Amazon Retail India buys goods from retailers and distributors, and then sells it under the Amazon Pantry storefront. Apart from this, it runs Prime Now, an independent two-hour delivery service started in May 2018.

 
 
 
 
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