Online seller Appario Retail was de-listed from Amazon’s online platform. The decision was made by the e-commerce company Amazon India its joint venture partner Patni Group-owned Zodiac Wealth according to a joint statement on Monday. The move was made in an attempt to avoid any conflict of interest and was being taken voluntarily, according to an official source.
Appario is a wholly-owned subsidiary of Frontizo which is a joint venture between Amazon India and Patni group-owned Zodiac Wealth Management LLP.
“Amazon and India’s Patni group-owned Zodiac Wealth Management LLP have agreed to renew their joint venture Frontizo Business Services Private Limited. Partners have decided that Appario Retail Private Limited, a wholly-owned subsidiary of Frontizo, will cease to be a seller on amazon.in and amazon.in/business within the next 12 months,” a joint statement said.
Appario became one of the largest sellers on Amazon after Cloudtail, a joint venture firm between Infosys founder N R Narayana Murthy and Amazon was shut down.
“The partners will continue to explore new business opportunities, including helping businesses across India to scale up their online presence,” the statement said.
Source : https://economictimes.indiatimes.com/industry/services/retail/amazon-india-to-delist-online-seller-appario-from-its-e-commerce-site/articleshow/95207529.cms