Logistics company Prologis (PLD +0.5%) reportedly offered the space to Amazon. The two previously teamed up on a warehouse in Mexico.
The investment would be quadruple the size of the Amazon’s current Brazilian operation, which suggests the retailer might soon move beyond books and electronics to distributing other goods in the country.
E-commerce accounts for about 5% of Brazil’s $300B retail market but that share has doubled in the last four years. Analysts expect a continued double-digit annual growth.
Amazon first started selling electronics in the region last October.
Competitors: Mercado Libre (MELI -5.1%) and B2w Chia Digital.
Previously: Amazon shadow sends FedEx and UPS lower (Feb. 9)
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