Report: Amazon.com, Inc. (AMZN) buys 25% stake in Colis Prive
Amazon.com, Inc. (NASDAQ:AMZN) has made its first investment in a French company by acquiring a 25% stake in Colis Privé. Colis Privé is a delivery company that competes against state-owned La Poste, and other parcel delivery companies like DHL, FedEx, and UPS. The terms of the investment were undisclosed.
Amazon has been ramping up operations outside of the U.S. This includes building up the Kindle business in other countries like Russia and Brazil. Amazon is also testing “mom and pop shop delivery” in India. By partnering with a company in France, Amazon.com will be able to avoid building infrastructure from scratch there.
It is estimated that Amazon ships around 50 million packages annually in France. Amazon would be able to better control distribution to the customer in France through this partnership and potentially reduce costs. These cost savings could be passed to users in France.
Colis Prive was founded in 1993 by cosmetics mogul Yves Rocher as an alternative to La Poste during a wave of union strikes. Colis Prive now employs 300 people and distributed over 25 million packages.