Chaitali Chakravarty & Writankar Mukherjee reporting for the Economic Times:
One of Amazon India’s largest sellers Cloudtail India is going to stop operations from May 2022 with the company’s joint venture partners Amazon and N.R. Narayana Murthy-owned Catamaran Ventures will not renew the seven years old partnership when it comes up for renewal next year.
Cloudtail India is a wholly-owned subsidiary of Prione Business Services. Prione is a joint venture between Catamaran and Amazon. The two partners are going to exit from the business at a time when there is stricter surveillance on the operations of the foreign e-commerce marketplaces in the country.
The two partners have mutually decided to not continue their joint venture beyond the end of its current term ending on May 19, 2022.
I really hope Appario Retail survives.