Future Retail and Amazon India pen Long Term Business Agreements

On Monday, Future Retail Ltd (FRL) announced that it had entered into long-term business agreements with Amazon India for expanding the reach of FRL stores and consumer brands through Amazon marketplace. This arrangement aims to create significant value to shareholders by building on the offline and online capabilities of both organizations.

As a part of the agreements, Amazon India will become the authorized online store sales channel for FRL stores. This will enable customers to enjoy the convenience of ordering on physical and digital channels for a wide range of food, FMCG, fashion, footwear, and home-ware categories. Additionally, FRL will enlist on the Amazon Prime Now program, allowing customers to get food, grocery, and general merchandise delivered within two hours in Delhi, Mumbai, Bengaluru, and Hyderabad. Additionally,  several stores such as Big Bazaar and Foodhall will soon be listed in more cities on the Amazon India marketplace. Currently, FRL attracts over 350 million footfalls across its retail network and this agreement will enable it to reach a wider customer base.

Future Retail Limited is engaged in the business of retailing a range of household and consumer products through departmental store facilities under various formats. It is primarily in the business of multi-brand retail.

At 9:30 am on Monday, the stock was trading at Rs 332.80, down by 0.52 per cent or Rs 1.75 per share. The 52-week high is recorded at Rs 489.25 and the 52-week low is recorded at Rs 323.55.