On Thursday, Reliance Industries (RIL) announced that Reliance Retail Ventures Limited, a subsidiary of RIL, will open 7-Eleven convenience outlets across India. For the launch of its convenience stores in India, Reliance Retail’s subsidiary has signed a master franchise deal with 7-Eleven, Inc (SEI).
“The first 7-Eleven store is set to open on Saturday, October 9 in Andheri East, Mumbai. This will be followed by a rapid rollout in key neighborhoods and commercial areas across the Greater Mumbai cluster to start with,” RIL informed in an exchange filing.
The RIL, which Mukesh Ambani leads, has stated that 7-Eleven stores aim to provide shoppers with a distinct type of convenience by offering a variety of beverages, snacks, and delicacies and refilling daily needs.
“SEI will also support RRVL in implementing and localizing the unique 7-Eleven convenience retail business model for India, including bringing best in class processes and practices,” RIL’s retail arm stated.
This comes just two days after Future Group-owned Future Retail Limited’s termination of a Master Franchise Agreement with 7-Eleven on Tuesday, after more than two years of planning to open outlets in India. The agreement fell through as the Future-7 “was not able to meet the target of opening stores and payment of franchisee fees.”
Future Retail and 7-Eleven signed a master franchise deal to build and operate convenience stores in India in 2019. It then suggested opening its first store in India in early 2020. However, no store was ever built.
7-Eleven is a convenience store business headquartered in the United States that operates, franchises, and licences over 77,000 stores in 18 countries. They provide packaged foods, beverages, personal care products, and other daily essentials.
