Cloudtail India, which sells nearly 10% of Amazon India’s merchandise, posted sales of Rs 1,145 crore in its first full year of operations in 2014-15, indicating that the American e-commerce firm may have clocked sales of over Rs 10,000 during the fiscal.
Cloudtail is an independent seller on the platform. Amazon.in is a neutral platform for all sellers. Amazon has so far impacted one lakh plus sellers in India. Over 50,000 of these are selling and growing their businesses profitably using this platform.
Cloud tail India is a joint venture between Amazon Asia and Infosys founder NR Narayana Murthy’s personal investment vehicle Catamaran through a holding company Prione Business Services.
Cloud tail India is a joint venture between Amazon Asia and Infosys founder NR Narayana Murthy’s personal investment vehicle Catamaran through a holding company Prione Business Services.
Amazon India is yet to file its financial data for the fiscal.
Amazon has been increasing share and could have doubled its sales by now. Cloudtail helps them de-risk their operations by controlling its sales so that they can manage other vendors too.
Amazon India’s largest rival Flipkart was heavily dependent on a key vendor, WS Retail, for over three-fourths of its sales at Rs 10,163 crore until last fiscal. But Flipkart is gradually moving towards the pure marketplace model which can allow over 60,000 sellers to compete on the portal.
India is one of the fastest-growing markets for the American e-tailer and its founder Jeff Bezos had last year pledged to invest $2 billion in local operations. Given the faster-than-expected expansion, that sum may increase, an Amazon official indicated.
Over the past year the Seattle-headquartered company has expanded the capacity of its centres threefold, with nearly 90% of its sellers using the company’s logistics.
India’s e-commerce market is expected to grow to $103 billion by 2019-20 from $26 billion now, according to Goldman Sachs. Amazon expects India to overtake Japan, Germany and the UK to become its largest overseas market, besides becoming the quickest to reach $10 billion in gross merchandise value in the company’s history.
India’s e-commerce market is expected to grow to $103 billion by 2019-20 from $26 billion now, according to Goldman Sachs. Amazon expects India to overtake Japan, Germany and the UK to become its largest overseas market, besides becoming the quickest to reach $10 billion in gross merchandise value in the company’s history.
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