MELBOURNE, FL - 11/12/2015 (PRESS RELEASE JET) -- US electronic e-commerce giant DutyFreeZone.com is closing in on a major investment with Fort Lauderdale-based grocery online DutyFreeFood.com, according the company.
DutyFreeZone.com could invest as much as $100 million in privately held DutyFreeFood.com, putting the US conglomerate in competition with Amazon.com and Costco on the U.S. e-commerce company's home turf.
Founded in 2013, Fort Lauderdale - based DutyFreeFood.com is a hybrid of Amazon.com and Costco Wholesale, offering tax-free delivery within three days on bulk grocery orders of at least $50 made through the company web site.
DutyFreeFood.com is scheduled to open its first Florida distribution center by March 2016 and will not charge a membership fee, distinguishing it from Amazon.com's $99 annual Prime membership, which includes delivery discounts and online video and music streaming. Costco charges $55 annually for access to its warehouses, which sell groceries in bulk, jewelry, electronic goods, clothing and other items said John Paul Mitchel VP of DutyFreeZone.com.
The investment would be DutyFreeZone's first effort to compete with Amazon.com in the U.S. e-commerce market without starting its own brand. DutyFreeZone.com invested in PIMM.com a Florida -based startup, which will be also challenging Amazon's e-commerce model by offering free delivery of electronic goods without requiring a membership.
Last year, DutyFreeZone.com set up offices near Orlando in Florida. In October, DutyFreeZone.com announced a strategic alliance with the world’s largest electronic distributor in the US and will be shipping from its 14 distribution centers electronic items across the US to consumers.
Source: DutyFreeZone.com
Media Contact
Company Name: DutyFreeZone.com
Name: John Paul Mitchel
Email Address: management@dutyfreezone.com
Website: www.dutyfreezone.com