India's largest retailer Future Group has signed a deal with world's largest online store Amazon to sell goods online. According to this deal, 40 brands will be retailed through Amazon and the focus is on Future Group fashion brands. As this new agreement was revealed the stocks of Future Retail Ltd jumped by 6.4 per cent while the Future Lifestyle Fashions was up by 5 per cent.

This deal also came when Future Groups head Kishore Biyani complained to the government against the e-commerce platform Flipkart which floated a “Big Billion Day” last week which got critical response from all over. The Future Group released a statement shortly, saying, “will enable us to leverage their strengths, investments and innovations in technology to reach out to wider set of consumers across India.”

Amazon is slowly spreading its wings in the country and there are reports that it is trying to acquire Jabong, however, the discussions are still initial stages.

(AW: Vamshi)