Brace yourself India – Walmart and Amazon are coming!
Everyone wants to get into India… Walmart spent billions to do it, and now Amazon is following suit. Amazon is going to buy a 49% stake in More, a booming Indian supermarket. The other 51% of More will stay with the Indian private equity firm Samara Capital. The supermarket has over 540 stores across India.
Customers will get more… because Amazon is getting More. The tech giant will address customer needs by providing the groceries they want. Amazon also bought a small stake in Shoppers Stop, an Indian fashion retailer. However, Amazon’s investment in More marks the company’s most significant brick-and-mortar move in the country to date.
Walmart invested in… Flipkart to the tune of $16 billion and a 77% stake. Walmart will be killing it in Indian e-commerce no doubt. However, Indians, like Americans, still like to buy groceries in-store. Amazon hopes that More customers will continue to buy groceries in-store…