Salarpuria Sattva to Take Over Part of Cloudtail Business
The Salarpuria Sattva Group, one of the largest real estate developers of the South, has incorporated a company which will take over the entire consumer electronics business of Cloudtail, currently the largest seller on Amazon's marketplace in India, four industry executives said. The new company, Bengaluru-based Dawntech Electronics, is the first such independent well-funded preferred seller that is getting the business of Cloudtail, which earlier this year announced that it would wind up operations by next May. As per Dawntech's regulatory filings with the Registrar of Companies, Amazon is not a stakeholder. Amazon is in the process of appointing sellers in other categories to take over from Cloudtail and there too it would not own any stake, the executives said. It will likely finalise a seller to replace Cloudtail in the fashion category next month, said the CEO of a top apparel brand.
Tags : Press Room Salarpuria Sattva Amazon Cloudtail Dawntech Electronics Consumer Electronics Regulatory Filings Seller