Bengaluru-based Dawntech Electronics will take over Cloudtail's consumer electronics business, Economic Times reported on November 25. In August, Amazon and Narayan Murthy-owned Catamaran Ventures decided to end their seven-year-old joint venture partnership in Prione Business Services, which owns Cloudtail - currently, the largest seller on Amazon India and the seller at the centre of many accusations levied against Amazon. The partnership will officially end next May, but it appears that Cloudtail has already begun reducing its business. Cloudtail has stopped buying more stock and is currently liquidating its existing inventory, the ET report said. Dawtech Electronics is owned by Bengaluru-based Salarpuria-Sattva Group, one of the largest real estate developers in South India. According to ET, Dawntech is an independent seller and Amazon does not hold any stake in the company. Both Amazon and Salarpuria-Sattva did not confirm the development to ET. What about other segments? Amazon is also in the process of appointing new sellers in other categories that Cloudtail operates in, the report said. A seller to replace Cloudtail in the fashion category is expected to be finalised next month, according to an executive of a top apparel brand, ET reported. The e-commerce giant is also yet to end its partnership with Appario Retail, which operates in various segments. Like Cloudtail, Appario Retail is a seller on Amazon in which the platform has a 24 percent stake. While Cloudtail is the most well-known seller on the platform, Appario is a close second. According to the Reuters report, while Cloudtail was…
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Amazon has found Cloudtail’s replacement for electronics in Dawntech: Report
Aside from electronics, Cloudtail shutting down has left a void to fill in other major retail categories as well.
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