The world's largest convenience retailer has signed a master franchise agreement with a subsidiary of Future Retail Ltd to develop and operate 7-Eleven stores, with the first location set to open later this year. Future Retail plans to build new 7-Eleven stores as well as convert some of its existing locations to the 7-Eleven banner. The convenience store giant will support Future Retail to implement and localize the 7-Eleven business model.
"7-Eleven, Inc. is among the most iconic global brands in the food retail landscape,” said Kishore Biyani, founder & group CEO, Future Group. “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 neighborhood."
Future Group currently offers more than 80 brands across fashion, footwear, fast-moving consumer goods, food and homeware segments that contribute almost half of its sales through the retail chains forming part of its network. Its retail chain network in India includes Big Bazaar, Central, EasyDay, Foodhall, Brand Factory, Nilgiris, Heritage Fresh, fbb and WH Smith.
7 Eleven operates, franchises and/or licenses more than 67,000 stores in 17 countries, including 11,800 in North America. It also has stores in Canada, Mexico, Japan, Thailand, South Korea, Taiwan, China, Hong Kong, Macau, The Philippines, Australia, Singapore, Malaysia, Viet Nam, United Arab Emirates, Norway, Sweden and Denmark.