News About Banking Industry Takes On Amazon With U.S. Grocery Buy

MELBOURNE, FL – 11/12/2015 (PRESS RELEASE JET) — US electronic e-commerce giant is closing in on a major investment with Fort Lauderdale-based grocery online, according the company. could invest as much as $100 million in privately held, putting the US conglomerate in competition with and Costco on the U.S. e-commerce company’s home turf.

Founded in 2013, Fort Lauderdale – based is a hybrid of and Costco Wholesale, offering tax-free delivery within three days on bulk grocery orders of at least $50 made through the company web site. is scheduled to open its first Florida distribution center by March 2016 and will not charge a membership fee, distinguishing it from’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

The investment would be DutyFreeZone’s first effort to compete with in the U.S. e-commerce market without starting its own brand. invested in 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, set up offices near Orlando in Florida. In October, 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.


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