Amazon Wholesale (India), which handles Amazon’s business-to-business deals, got a capital of Rs 100 crore in 2016. The present tranche originates from Amazon.com, Mauritius and Amazon Corporate Holdings Singapore.
Capital Acquired In Tranches
Amazon acquired investment money in three tranches in 2016. It got Rs 115 crore in month of June and Rs 160 crore in month of September of last year.
The three installment of the money in Amazon Wholesale is in agreement with the statement of Amazon CEO Jeff Bezos to put all the assets into India.
About Wholesale Retail Arm Of The Company
The whole retail section of the company was established in year 2013 which possesses and runs AmazonBusiness. It sells office supplies, food and beverages, health & personal care products, FMCG goods, etc.
Additionally the company arm is also associated with marketing and distribution partner of Smartphone brands like Huawei, Coolpad, Xolo, and OnePlus that have no offline presence.
At present, AmazonBusiness is mainly catering the shipping services of Smartphone to various cities of the country while its IT supplies, FMCG and other offerings are limited to Karnataka only. The business initiated with Mangaluru and Bangalore cities.
It is associated with brands and distributors to fulfill the supply need to local grocery stores, pharmacies stores that are in partnership with banks and NBFCs.
Amazon Loss Counts
Amazon Wholesale’s misfortune broadened to Rs 20.4 crore amid 2015-16 whereas the figure of 2014-15 was Rs 14.4 crore and the gross revenue came down to Rs 3.2 crore from Rs 6.7 crore in the earlier year.
Strategy For Amazon Business In India
The CEO swore to put $5 billion in Amazon’s general business in India out of which more than $2 billion has as of now been acquired for different businesses.