Reliance Retail Ventures Ltd (RRVL), through its wholly owned subsidiary, 7-India Convenience Retail Ltd, has entered into a master franchise agreement with 7-Eleven, Inc., (SEI) the American retail major, for the introduction of 7-Eleven convenience stores in India.
Convenience store is a shop that remains open for extended hours, stocking a limited range of household goods and groceries to cater to the immediate neighbourhood.
The first 7-Eleven store will 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, Reliance Retail said in a statement.
“The 7-Eleven stores aim to provide shoppers with a unique style of convenience, offering a range of beverages, snacks and delicacies specifically curated to appeal to local tastes, along with refill of daily essentials, having affordability and hygiene at its very core,” it added.
“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. SEI will also support RRVL in implementing and localising the unique 7-Eleven convenience retail business model for India, including bringing best in class processes and practices,” it further said.
Isha Ambani, Director, RRVL said, “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.”
“It’s an ideal time for the largest convenience retailer in the world to make our entry into India” said SEI President and Chief Executive Officer Joe DePinto.
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