Amazon.com, Inc. (NASDAQ:AMZN) is reportedly in search of 15 physical locations where it can set up shop in France.
The online retail giant is planning to expand its reach by venturing into the brick and mortar strategy and this time it has its eye on France according to a report in the Le Monde newspaper. The company is said to be looking for 15 locations for its physical shops in France and it plans to open them in the next two years.
“The U.S company has approached French distributors to forge partnerships or make an acquisition in France," stated the Le Monde publication.
The French publication claims that Amazon is currently holding acquisition talks with two food distribution firms in the European country. The paper wrote that the online retail giant has approached most of the local companies but has not gotten any feedback. Le Monde also claims that the American company has approached the French retail giant, Monoprix which is owned by Groupe Casino.
Amazon is particularly targeting the major French hubs such as Paris and other strategic areas where the 15 stores will be strategically placed. The e-commerce giant has not yet released any statement regarding the matter and CNBC’s request for comments has been turned down. Analysts speculate that Amazon’s pursuit of physical stores in France might be tied to its plan to expand its Amazon Go grab-and-go idea. The company has been beta testing the idea with its employees.
Amazon is also planning to set up shop in the UK according to a different report by the Sunday Times stating that Amazon has been trying to secure physical locations for Amazon Go in London. The UK-based newspaper stated that the move might symbolize the company’s plan to set up convenience stores in Britain. Amazon Go will allow shoppers to purchase products without having to queue because they can checkout using their smartphones. However, Amazon is yet to confirm whether its pursuits for physical are tied to Amazon Go.
Amazon stock closed the latest trading session on Tuesday at $957.10 after tanking by 0.22 percent compared to the value of the stock during the previous close.
