Amazon India infuses Rs 284 crore into Amazon Retail
Amazon India has infused Rs 284 crore ($38.45 million) into its Amazon Retail arm which is responsible for selling fast moving consumer goods and food items as the business sees high demand for ‘essential’ goods.
Multi-brand e-commerce retailer Amazon India is currently only retailing goods deemed ‘essential’ on its online platform and has seen a surge in demand for these product categories which include food and personal care items. To strengthen its Amazon Retail arm, Amazon India has added Rs 284 funds to the segment, according to regulatory documents sourced by TNN from business intelligence platform Tofler.
The investment was approved before the lockdown went into effect and the funds came from Amazon’s Singapore and Mauritius-based entities. Amazon Retail is involved in fulfilling orders for Amazon Pantry and Amazon Fresh which continue to deliver in around 40 Indian cities under lockdown.
The retailer has also launched a campaign to raise funds for the charity Habitat for Humanity, it announced on Facebook on April 6. Amazon India encouraged its customers to donate to the organisation and pledged to donate an additional 10% for every donation given.
On April 5, Amazon India matched all donations by 100% from its customers to the PM-Cares Fund and a number of other partner organisations for the day. The business has also been supporting the Akshaya Patra Foundation, Oxfam India, and United Way Mumbai during the ongoing lockdown.
In a bid to encourage people to stay at home, Amazon is offering rewards for customers who pay bills through Amazon. The e-commerce store is focusing on services it can continue to offer during lockdown as income from categories such as fashion temporarily evaporates.
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