Tuesday, October 26, 2021

Reliance Retail to open 7-Eleven outlets in India

NEW DELHI (WNN) — 7-Eleven Empire is coming to India.

India’s Reliance Retail Ventures has roped in 7-Eleven, Inc. to launch convenience stores in the second most populous country, the company said on Thursday. Has entered into a franchise agreement with

The stores will first be launched in the financial hub of Mumbai. Indian media reported that the first store is going to open in a few days.

Earlier this week, Indian rival Future Retail terminated its 2-year-old agreement with Dallas, Texas-based 7-Eleven to develop the franchise.

India’s largest retailer, Reliance, said in a statement that the stores will offer the usual convenience store range of drinks, snacks and other items selected for local tastes, “with affordability and cleanliness at its core.” It did not say whether stores would sell 7-Eleven’s famous Slurpees.

“India is the second largest country in the world and one of the fastest growing economies,” Joe DePinto, president and CEO of 7-Eleven, said in a statement. “This is an ideal time for the world’s largest convenience retailer to enter India.”

Japanese company Seven & I Holdings is the parent company of 7-Eleven Inc., and is rapidly expanding its network of bright green, orange, red and white “7” signs across Asia, where convenience stores have displaced traditional grocers. have make. many neighbourhoods.

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Stores customize their fresh and fast-food options to suit local tastes, for example, offering steamed pork buns in Shanghai, and “oden” stewed fish paste in Japan.

In India, 7-Eleven will face local series like Twenty Four Seven and In and Out.

The arrival of the Western-style convenience store may not be welcomed by everyone – comments on Twitter suggested some Indians worried it could accelerate the decline at mom-and-pop retailers.

But the idea may attract shoppers who are craving a late night snack or early morning meal.

Reliance Retail is part of the Reliance Industries Group which spans a wide range of businesses.

7-Eleven says it operates, franchises or licenses more than 77,000 stores in 18 countries and territories, about a fifth of them in North America. It recently announced plans to expand into Laos and Cambodia.

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