Amazon seller Clicktech is set to acquire Appario, one of the largest seller entities on the e-commerce marketplace which is also partly owned by the big tech firm through a joint venture with the Patni Group.
Amazon had said in October 2022 that it was planning to delist Appario from the platform over the next year, after criticism and reports that entities related to the firm had become the biggest sellers on the marketplace.
"Clicktech started its operation as a seller on the Amazon India marketplace from May 2022 and since then has demonstrated consistent performance and growth. The company believes that it can scale and grow by expanding its selection offering on the marketplace," said Raj Jain, Executive Director of Clicktech.
"Hence the Board of Directors of Clicktech Retail Pvt. Ltd have decided to buy Appario’s business and expand their product offering, subject to regulatory approvals," he added.
VCCircle was the first to report the development.
Jain is a veteran business executive, having set up, and spearheaded Walmart's India business between 2006 and 2014. Before that, he led Whirlpool's business in India and Asia.
“India’s Patni Group and Amazon have had a long, fruitful relationship since 2017. Earlier, 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 Private Limited," said an Amazon spokesperson.
"Amazon will acquire Zodiac’s stake in Frontizo and its subsidiary, Appario Retail Private Limited, subject to regulatory approvals. Frontizo and Appario will continue to operate under the leadership and control of their management pending the regulatory approval process," he added.
Appario became one of the largest sellers on Amazon after Cloudtail — a similar joint venture firm between Infosys founder NR Narayana Murthy's Catamaran Ventures and Amazon — was shut down in April 2022.
“Amazon and India’s Patni Group have had a long, fruitful relationship since 2017. Earlier Patni Group and Amazon had mutually decided to cease Appario business on Amazon.in. Patni Group-owned Zodiac Wealth Advisors LLP have mutually agreed to sunset their joint venture, Frontizo Business Services Private Limited," said a Frontizo and Appario spokesperson.
"Amazon will acquire Zodiac’s stake in Frontizo and its subsidiary, Appario Retail Private Limited, subject to regulatory approvals. Frontizo and Appario will continue to operate under the leadership and control of their management pending the regulatory approval process," he added.
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