Amazon, Flipkart to increase warehousing space
Both the companies have picked up spaces for around 10 years
Amazon and Flipkart will lease over three million sq ft warehousing space across major consumption centres as they expect a major bounceback in demand once the COVID-19 crisis ends.
Amazon’s India unit has contracted two million sq ft while Walmart-backed Flipkart has contracted one million sq ft across Bengaluru, Mumbai Metropolitan Region, Hyderabad, Pune, Ahmedabad, Lucknow and Coimbatore.
These new facilities across major warehousing hubs will be up and running by the end of 2020 under the built-to-suit model as the companies look to expand their India footprint. Both the companies have picked up spaces for around 10 years with a lock-in period of five years each.
Amazon India has more than 50 fulfilment centres with more than 26 million cu ft of storage space across 13 states