10th July 2021,
7-Eleven is entering the second largest country in the world.
The convenience store giant will open its first location in India on Oct. 9, in the country’s largest city of Mumbai. Opened by 7-India Convenience Retail Limited, a wholly owned subsidiary of Reliance Retail Ventures Limited, the store will offer 7-Eleven’s signature food and drinks, as well as items especially created to appeal to the local market.
The two-story, 1,700-sq.-ft. Mumbai 7-Eleven, will be located on the first floor of an apartment building. It will have a café. 7–Eleven will support RRVL to implement and localize its unique retail business model.
“It’s an ideal time for the largest convenience retailer in the world to make our entry into India,” said 7-Eleven president and CEO Joe DePinto. “Our strategic relationship with Reliance Retail will bring 7-Eleven’s brand of convenient products and services to millions of Indian consumers starting in the city of Mumbai.”
India will be the 18th country or region where 7–Eleven stores operate. Others include the United States, Canada, Mexico, Japan, Thailand, South Korea, Taiwan, China, the Philippines, Singapore, Malaysia, Vietnam, Cambodia, Australia, Norway, Sweden and Denmark.
Mumbai is India’s financial and commercial hub, home to the Bollywood film industry and one of the top 15 wealthiest cities in the world. It is also home to Reliance Industries Limited (RIL), the largest publicly traded company in India. RRVL, through its wholly owned subsidiary, 7-India Convenience Retail Limited, holds the master franchise agreement with 7-Eleven to operate stores in Greater Mumbai. RRVL is a subsidiary of RIL.
“At Reliance, we pride ourselves on offering up the best to our customers and we are proud to bring 7-Eleven, the globally trusted convenience store, to India,” said director of Reliance Ventures Limited Isha Ambani. “7-Eleven is among the most iconic global brands in the convenience retail landscape. The new pathways we build together with 7-Eleven will offer Indian customers greater convenience and choices within their own neighborhoods,”
India will be the 18th country or region where 7–Eleven stores operate. Others include the United States, Canada, Mexico, Japan, Thailand, South Korea, Taiwan, China, the Philippines, Singapore, Malaysia, Vietnam, Cambodia, Australia, Norway, Sweden, and Denmark.
The United States, where 7-Eleven was founded almost 100 years ago, has experienced rapid expansion during the last few years. In May, the retailer acquired Speedway, expanding its U.S. store presence by almost 4,000 stores.
Based in Irving, Texas, 7-Eleven operates, franchises and/or licenses more than 77,000 stores in 18 countries and regions, including 16,000 in North America. In addition to 7-Eleven stores, 7-Eleven, Inc. operates and franchises Speedway, Stripes, Lardo Taco Company and Raise the Chicken locations.
Source: Chain Store Age
Full Article: https://www.chainstoreage.com/7-eleven-open-its-first-store-india
