RIL, which will control the joint venture, has clinched a lucrative bargain, underscoring its dealmaking prowess, analysts said. Nita Ambani will be the chairperson of the venture.
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Amazon plans to wheel cart down value aisle, mirror Meesho model in fashion, lifestyle categories to tap value customers. It competes with Meesho, Flipkart s Shopsy, and Reliance Industries Ajio Street, while also facing competition from Shein, Temu, and Pinduoduo in its home market.
Amazon is launching a new vertical featuring low-priced, unbranded fashion and lifestyle products, people aware of the matter said. 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.