The e-commerce space with players like Walmart-backed Flipkart and homegrown platforms like Reliance-owned Ajio and Softbank-backed Meesho, is heating up with the news of Amazon launching a new vertical. The new vertical is to feature low-priced, unbranded fashion and lifestyle products, ET reported.
It added, the US ecommerce giant is looking to aggressively woo the Indian value customer, as demand for mass market products tapers and its own growth loses pace.
Flipkart’s Shopsy is the other major player in the space. Mukesh Ambani-led Reliance Industries is also working on a low-price platform, Ajio Street, the report states.
Last week, Amazon Seller Services, the India arm of the e-commerce major, said it has received Rs 830 crore (around $100 million) from its parent entity in the United States.
The fresh investment is in line with Amazon’s plans for India. Amazon CEO Andy Jassy said the Seattle-based tech titan would invest an additional $15 billion in India by 2030, taking its total investment commitments in the country to $26 billion. This includes $12.7 billion that Amazon Web Services (AWS) said it would invest in India by the end of the current decade.
The American firm’s investment into its India unit comes weeks after Walmart, the US-based retailer, infused $600 million into Flipkart, the homegrown e-commerce rival as both companies look to tap into the increasing India potential.
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