Approached Amazon 8 times but they didn’t help: Kishore Biyani says RIL ‘saviour’

As Future Group and Amazon lock horns in the retail business battle, Kishore Biyani — founder and CEO of the Future Group — for the first time broke his silence and divulged that Amazon was not open to helping the cash-strapped group with its financial woes even though Biyani reached out to them eight times.

In August last year, the Future Group had announced a deal to sell its retail, wholesale, logistics and warehousing units to the retail arm of billionaire Mukesh Ambani’s Reliance Industries. Under the Rs 24,713-crore deal, certain Future Group companies engaged in the retail and wholesale business and the logistics and warehousing business would be merged into Future Enterprises and transferred to Reliance Retail Ventures Ltd (RRVL), a subsidiary of RIL.