Amazon and partner Samara Capital acquire More to begin push into India’s physical retail space
Amazon and Samara Capital created Witzig Advisory Services Private Limited to hold the ownership stake through a reported $585 million deal.
- More a supermarket chain based in India will help Amazon enter the physical space in the country, recently dominated by US competitor Walmart.
- Amazon’s announcement comes after the acquisition of Tapzo, a payment service that operates in India.
- Walmart recently brought Flipkart, an India based e-commerce market, for $17 billion earlier this year. PWC reports Flipkart could grow to $150 billion by 2022.