Amazon.com is expanding its business in Indian Market. It is in discussions with leading Indian e-commerce players like Flipkart.com, LetsBuy.com and Exclusively.in, among others and may enter the market as early as the first quarter of next year.
Acquiring Indian players has been the dominant theme for foreign majors looking to enter Indian market with eBay acquiring Baazee.com and Groupon picking up SoSasta.com to enter the market. But sources say that Amazon is looking to set up operations on its own as its discussions with many players on acquisition front haven’t seemed to work out.
[advt]The earliest indications came from the hiring of Madhu M, a senior executive at Landmark (retail chain), by Amazon to head its India operations. Madhu is an IIM Ahmedabad alumnus and is currently holding the position of SVM at Amazon. He is based out of Chennai where Amazon’s Kindle development team is also based.
Amazon is also establishing a warehouse in Mumbai, a standard step before entering the e-commerce space going by what Amazon has been doing globally. Another interesting development has been the buying of 80,000 sq ft by Amazon at SP Infocity, promoted by Shapoorji Pallonji & Co Ltd, in Perungudi in Chennai. The company already has a development centre in Chennai.