Amazon’s proposed tie-up with Reliance Retail may not happen: ET report

S. MAHADEVAN | September 25, 2019

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Apparently, the anticipated association between Amazon and Reliance Retail is likely not happening and Amazon is looking elsewhere for tie-ups. The report on this development claims the e-commerce giant has opted out due to the high valuation Reliance was placing its retail business at. Even a minority 10-15% stake would have meant committing a very huge exposure which the US company was not willing to bet on. The valuation being sought is between Rs 2.5 lakh crore to Rs 3 lakh crore. The report says one of the other options Amazon is now considering is the offline fashion retailer Max, owned by the Landmark group. If one went by valuations alone, Max, with an annual sale of around Rs 3,500 crore may get valued under Rs 7,000 crore. Taking a similar 10-25% stake in Max will not prove very difficult for Amazon. These may be early days but talks have started, as per this report. Max and Amazon already have a relationship where Max sells its products on Amazon’s platform.

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