Amazon rolled out its live commerce feature 'Amazon Live' in India where customers can directly interact with content creators and social media influencers and buy products from links provided during their live streams.
With Amazon Live, Amazon.in will run 15 live streams every day from 10 a.m. to 1 a.m. More than 150 content creators are live streaming during the ongoing Amazon Great Indian Festival, informed the company.
Kishore Thota, Director, Customer Experience and Marketing, Amazon India said, "Through Amazon Live, Amazon India aims to connect the influencers with customers at scale, enabling them to make informed purchases."
The influencers should have an account with platforms like YouTube or Instagram to do live streaming on Amazon Live. Amazon Live is currently hosting live streams across categories, like electronics, fashion and beauty, and home decor, in India.
The company said that more than 70 percent of customers who shop on Amazon.in in regional languages are from tier ll and below cities.
"Amazon.in continues to make e-commerce more inclusive by lowering the barriers for customers across the country including those in tier ll and below geographies so that they enjoy the benefits of shopping online," said Thota.
The company said it will bring new features and invest in innovations to make their shopping experience enjoyable and fulfilling in India. Creators can use live product demonstrations, educate audiences on product features, benefits, and special offers, and help customers make informed buying decisions.
With Live's chat feature, they can interact with shoppers in real-time and help them stay connected with "Follow".
Convergent Finance LLP and Samara Capital have jointly declared the finalization of definitive documents for acquiring a 51.8 percent stake in Agro Tech Foods Limited (ATFL) from a subsidiary of Conagra Brands, Inc. ATFL, a listed company on the Bombay Stock Exchange and the National Stock Exchange, will undergo a mandatory open offer for an additional 26.0 percent of outstanding shares due to this acquisition. The deal is pending customary regulatory approvals and is anticipated to be completed in due course.
Conagra has been a controlling shareholder of ATFL since 2011, and during its tenure, ATFL expanded its food portfolio, featuring renowned brands like ACT II popcorn and Sundrop edible oils. Both brands are leaders in their categories, catering to both in-home and out-of-home consumption. ATFL will retain the license for the ACT II brand from Conagra for use in India.
Harsha Raghavan, Managing Partner at Convergent Finance said, “Agro Tech Foods’ category-defining brands have been beloved household names for the past three decades, thanks to the company’s relentless focus on quality, innovation, and customer delight. As India’s rapidly-growing consumer class expands and discretionary income levels continue to rise, we will expand ATFL’s distribution reach and product range, thereby transforming it into the country’s leading packaged and snack food platform.”
Manish Mehta, Managing Director and Co-Chief Investment Officer at Samara Capital said, “We are delighted to lead the acquisition of a majority stake in ATFL in partnership with Convergent. The company’s brands have high recall value with India’s consumers, and we aim to complement this hard-earned recognition with our knowledge of India’s food and consumer sectors to increase ATFL’s presence in fast-growing, high-margin categories. We intend to create a large and unique branded food platform in the country with this acquisition.”
Convergent Finance LLP, known for its investment management and advisory role, follows a value investing approach, emphasizing fair valuations through negotiated transactions. Samara Capital, founded in 2007, is a mid-market private equity firm in India with a focus on creating long-term value in partnership with entrepreneurs. Consumer and Retail form a significant focus area for Samara.
Conagra Brands, Inc, headquartered in Chicago, is a leading North American branded food company with a portfolio of iconic brands, including ACT II, Birds Eye, Duncan Hines, Healthy Choice, and Marie Callender’s, among others. The company is driven by a commitment to innovation and evolving to meet changing food preferences.
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