Amazon India Super Seller Appario Sold To Clicktech
The divestments come amid mounting competition concerns from small sellers and regulators over e-commerce players operating seller entities and not operating as a pure marketplace.
Clicktech Retail Pvt. is set to acquire Appario Retail Pvt. from Amazon India and Patni Group, as the online retailer continues divesting stake in seller entities in India amid concerns over local e-commerce norms.
Appario was owned by Amazon India through a joint venture with the Patni Group since 2017. In October 2022, Patni Group and Amazon had mutually decided to cease Appario business on Amazon.in.
"Patni Group-owned Zodiac Wealth Advisors LLP and Amazon have now mutually agreed to sunset their joint venture, Frontizo Business Services Pvt.," a spokesperson for Amazon said.
"Amazon will acquire Zodiac’s stake in Frontizo and its subsidiary, Appario Retail, subject to regulatory approvals. Frontizo and Appario will continue to operate under the leadership and control of their management, pending the regulatory approval process," the spokesperson said.
A spokesperson from Clicktech also confirmed the transaction. Clicktech started functioning as a seller on Amazon India from May 2022.
"The company believes that it can scale and grow by expanding its selection offering on the marketplace. Hence, the Board of Directors of Clicktech Retail have decided to buy Appario’s business and expand their product offering, subject to regulatory approvals," the statement read.
In 2022, Amazon had delisted and shut down its then-largest seller Cloudtail, where it held a stake alongside Infosys Ltd. founder NR Narayana Murthy’s Catamaran Ventures.
The divestments comes amid mounting competition concerns from small sellers and regulators over e-commerce players operating seller entities and not operating as a pure marketplace.
