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FOUNDER & PUBLISHER Kowie Geldenhuys
EDITOR-IN-CHIEF Paulo Coutinho
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Home›Business›The Buzz | Amazon deepens its push into India

The Buzz | Amazon deepens its push into India

By -
Monday, September 25, 2017
109
0

Amazon.com Inc. is set to buy a 5 percent stake in Indian retailer Shoppers Stop Ltd., as the U.S. company steps up efforts to gain ground in the fast-growing consumer market.

Shoppers Stop’s board approved the issuance of 4.4 million shares to a unit of Amazon for 407.78 rupees (USD6.28) each, the Mumbai-based company said in an emailed statement late Saturday. As part of the deal, Amazon experience centers – which let customers test out the products available online – will be set up across Shoppers Stop’s network of 80 bricks-and-mortar stores in India.

Chief Executive Officer Jeff Bezos has allocated $5 billion toward Amazon’s expansion in India as it seeks to secure an advantage over local rivals in the South Asian nation. The e-commerce giant has a lot riding in the country after its washout in China, where the dominance of Alibaba Group Holding Ltd. and other domestic players made Amazon’s entry difficult.

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Thursday, November 5, 2026 – edition no. 5068

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