default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Amazon Hits Back at India’s Future Group Over Reliance Industries Deal

Reliance Industries.
Reliance Industries. Shutterstock. (Shutterstock)

Amazon has requested $40 million to forego its right of first refusal to buy Future Group’s assets, the Economic Times reported. It is alleged to be the US retail giant’s latest move in a battle with Future Group over the latter’s proposed mega-deal to sell its retail and logistics assets to Indian conglomerate Reliance Industries, which was announced last year.

In a submission made to the Singapore International Arbitration Centre, Future Group claimed Amazon asked for “$40 million as compensation in exchange for the Future Group and Reliance proceeding with the disputed transaction.”

In This Article

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Global Markets
On the ground intelligence and analysis from emerging and frontier markets.

Vietnam is already an important sourcing hub for companies like Zara, H&M and Nike — and an increasingly valuable way for brands to reduce their exposure to China — but supply chain experts say it is not as attractive as it once was.




view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional Summit - New Frontiers: AI, Digital Culture and Virtual Worlds - March 22, 2024
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional Summit - New Frontiers: AI, Digital Culture and Virtual Worlds - March 22, 2024