New Delhi: E-commerce company Amazon India and it’s joint venture partner Patni Group-owned Zodiac Wealth have decided to de-list online seller Appario Retail from the company’s online platform, a joint statement said on Monday.
An official source told PTI that the move is aimed to avoid any conflict of interest and is being taken voluntarily.
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.