7-Eleven convenience store chain signs franchise agreement with Future Group
The Future Group will open and manage brand 7-Eleven's stores in India
The world’s largest convenience store chain 7-Eleven Inc. is coming to India. It has signed a master franchise agreement with a unit of Future Group.
According to media reports, Future Retail's subsidiary SHME Food Brands will open newer stores as well as convert existing locations to the 7-Eleven brand, starting this year. The retailer that has nearly 67,000 stores world over including 7-Eleven among other retail formats, said products mainly in beverages, snacks and fresh foods with local recipes will be part of the initial convenience offering.
7-Eleven’s key markets include Japan, where it has 20,733 outlets, in Thailand there are 11,026 stores, in South Korea it has 9,450 outlets and in its home country US, there 9,350 7-Elevens. Other markets, where the retailer is present include Australia, Singapore, Malaysia, Philippines, Taiwan, China, Sweden, Norway, Denmark, Canada and Mexico. This is the first time that the company is coming to India and the first store is expected to open later this year.
“This strategic relationship offers an excellent opportunity to bring 7-Eleven’s brand of convenience and its iconic products to the Indian consumer,” said Ken Wakabayashi, International Head at 7-Eleven in a statement.
“7-Eleven 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 neighbourhood,” said Kishore Biyani, Future Group’s Founder and Group CEO.
The company will support Future Retail to implement and localise the 7-Eleven business model here in India.
It began life as Southland Ice Company back in 1927. The name changed to 7-Eleven in 1946, when the stores started operating from 7am to 11pm. In 1962, it became the first convenience store to operate 24/7.For more updates, be socially connected with us on
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