The online retailer indicated that the brand will be sold by key sellers on the Amazon India platform.
Stake sale by Anil Ambani-led financial services seen at Rs 275 cr; company continues to be a shareholder in Paytm ecommerce
Online marketplace Amazon India recently reached out to sellers on its marketplace with a survey intended to map the perceived impact of TCS on their businesses.
The company signalled that the reduced fees for doing business on India’s largest online marketplace could translate into lower prices for consumers.
The company started this as a pilot project in 2015 to increase its logistics reach, and now nearly 13,000 stores across 65 cities are a part of its network.
The Delhi-based firm could be valued at about $700 million (Rs 4,700 crore), if the transaction is successful, according to two people aware of the talks.
Daily shipments have dropped by half over the past month as Snapdeal restructures its operations and awaits a lifeline from primary investor SoftBank.
Aim is to reduce delivery times for co's gold and silver category sellers
It recently signed on a large franchisee for food retail in West Asia as well as a nuclear power producer in the United States to provide its software.
"All companies working on an employee outsourcing model took a hit. Between November and February, there was a 4045% drop in volumes from e-commerce companies," said L Sridhar, founder of logistics network company Connect India.
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