Future Retail Ltd has entered a franchise agreement to operate 7-Eleven convenience stores in India.
India is about to get its first 7-Eleven convenience store.
7-Eleven Inc., with more than 67,000 stores worldwide, has signed a master franchise agreement with a subsidiary of Future Retail Ltd to develop and operate 7-Eleven stores within India. The expansion marks the company’s first entry into India.
The first 7-Eleven convenience store in India is expected to open in 2019. The new master franchisee plans to build 7-Eleven stores as well as convert some of its existing locations to the 7-Eleven brand. 7-Eleven’s entry into the country will modernize the small-retail environment and bring greater convenience to shoppers.
Internationally popular products, beverages, snacks and immediately consumable fresh foods with recipes developed for local tastes will be part of the initial convenience offering.
“7-Eleven Inc. is among the most iconic global brands in the food retail landscape. We are proud to bring this globally trusted convenience store to India and build new pathways together that will offer Indian customers greater convenience and choices, within their own neighborhood,” said Kishore Biyani, founder & Group CEO, Future Group.
7-Eleven will support Future Retail Ltd to implement and localize the unique 7-Eleven business model.
“This strategic relationship offers an excellent opportunity to bring 7-Eleven’s brand of convenience and its iconic products to the Indian consumer,” added 7-Eleven Inc. Senior Vice President and Head of International Ken Wakabayashi.
India will be the newest country or region where 7-Eleven stores operate; currently including the United States, Canada, Mexico, Japan, Thailand, South Korea, Taiwan, China, Hong Kong, Macau, The Philippines, Australia, Singapore, Malaysia, Vietnam, United Arab Emirates, Norway, Sweden and Denmark.