Amazon And Walmart To Invest More Than Rs 2000 Crore In Indian Retail MarketJanuary 23, 2016 2016-01-23 11:14
Amazon And Walmart To Invest More Than Rs 2000 Crore In Indian Retail Market
Aiming to build a larger network and gain a market share, Walmart Stores and Amazon is planning to invest more than Rs 2000 crore in the market.
Amazon seller services that is the online e-commerce platform will receive an investment of Rs 1,696 crore from Amazon. On the other hand, Walmart Stores which plans to open close to 50 stores will invest Rs 360 crore.
Amazon India in the past year has expanded the capacity of its centres threefold and nearly 90% of the sellers is using the company’s logistics.
Walmart’s Stores which addresses the smaller retailers had a sales decline last year to Rs 2,992.7 crore. The retail giant now plans to expand and open 70 stores in the next five years.