Reliance Retail Ventures Limited (RRVL) on Thursday announced that it has entered into a master franchise agreement with 7-Eleven Inc (SEI) for the launch of 7-Eleven convenience stores in India. It added that the first 7-Eleven store is set to open on Saturday, October 9, 2021, in Andheri East, Mumbai.
The retail giant said that this will be followed by a rapid rollout in key neighborhoods and commercial areas, across the Greater Mumbai cluster to start with.
The move comes just a few days after Future Group’s firm Future Retail said that it has terminated its franchise agreement with the US-based convenience stores brand to operate the stores.
The Kishore Biyani-led Future Retail had entered into an agreement with 7-Eleven Inc for operating stores under the brand name in India in February 2019.
“With the launch of 7-Eleven stores, RRVL as the country’s largest retailer, takes a step further in its journey of offering a superior shopping experience and compelling value proposition for Indian customers,” a Reliance statement said.
With a rapid expansion plan on the anvil, it is expected to be a significant contributor to local employment and building the eco-system for convenient foods, the company said.
7-Eleven will also support RRVL in implementing and localising the unique 7-Eleven convenience retail business model for India, including bringing its processes and practices.
“At Reliance, we pride ourselves in offering the best to our customers and we are proud to bring 7-Eleven, the globally trusted convenience store, to India. 7-Eleven is among the most iconic global brands in the convenience retail landscape. The new pathways we build together with SEI will offer Indian customers greater convenience and choices within their own neighborhoods,” said Isha Ambani, Director, RRVL.
“Our strategic relationship with Reliance Retail Ventures will bring 7-Eleven’s brand of convenient products and services to millions of Indian consumers starting in the city of Mumbai,” SEI President and Chief Executive Officer Joe DePinto said.