8/29/2023 0 Comments Bill boss amazon![]() Indian politicians consider mom-and-pop store owners as an important constituency. India does not welcome foreign direct investment into physical retailers that sell multiple brands. Bezos took a circuitous route to sink his claws into Future Retail after debt issues prompted Biyani to consider selling. Counsel for Biyani’s Future group have trotted out the provocative comparison to complain that a foreign company is using a dubious minority investment to decide the fate of a struggling Indian outfit.Īmazon’s involvement is contentious. In its push to stop the sale to Reliance, Amazon has been accused of acting like the East India Company, a 17th century London start-up whose employees killed, pillaged and bribed as they conquered the subcontinent. Even Walmart’s Indian online marketplace, Flipkart, has the benefit of the Best Price cash-and-carry stores operated by its parent company. In India, however, where Amazon already has invested some $6.5 billion over the past decade, it lacks its own physical shops. ![]() supermarket chain Whole Foods back in 2017 in its biggest acquisition. The $1.6 trillion company snapped up upscale U.S. ![]() It has a partnership with Future Retail, including its Big Bazaar hypermarkets. The takeover would trample over part of Amazon’s expansion strategy in online groceries. India’s Competition Commission already has cleared the deal. Swallowing Future Retail, its closest competitor, would bag another 1,500. ![]() In addition to its huge oil and telecom operations, Reliance is India’s top brick-and-mortar retailer, with some 12,000 stores. The $3.4 billion deal announced in August includes more than 17 companies. REUTERS/Francis Mascarenhas/File PhotoĪmbani will turbocharge his retail business if he successfully acquires Kishore Biyani’s sprawling Future empire. FILE PHOTO: Kishore Biyani, CEO and founder of India's Future Group poses after the inauguration of Foodhall, a premium lifestyle food superstore by the Future Group, store in Mumbai, India, December 1, 2018. ![]()
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