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Amazon plans investment of Rs 1,155 cr in its India arm

By Sujata Sachdeva

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American ecommerce leader, Amazon now plans to invest Rs 1,155 crores to further establish its India presence. The company, in a filing with the Registrar of Companies (RoC) last week, said that it is raising funds through a rights issue to its parent. The funding would be utilized in improving infrastructure and logistics, and technology. Last July, Amazon had announced it plans to invest around Rs 12,500 crores in the country and it has already invested Rs 2,500 crores since the announcement.

With Amazon India announcing aggressive plans to strengthen its high margin fashion business in India, the company recently brought Vikas Purohit as category leader for fashion, on board. Purohit has strong experience in the fashion category since he has worked for several Indian and foreign brands serving as retail head for Tommy Hilfiger, business head for Diesel at Reliance Brands, Madura Garments and Planet Retail.

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