Reliance Retail Ventures Limited announced that it has entered into a master franchise agreement with 7-Eleven Inc for the launch of 7-Eleven convenience stores in India. It added that the first 7-Eleven store is set to open on Saturday, October 9, 2021, in Andheri East, Mumbai.
The retail giant said that this will be followed by a rapid rollout in key neighborhoods and commercial areas, across the Greater Mumbai cluster to start with.
The move comes just a few days after Future Group’s firm Future Retail said that it has terminated its franchise agreement with the US-based convenience stores brand to operate the stores.
The Kishore Biyani-led Future Retail had entered into an agreement with 7-Eleven Inc for operating stores under the brand name in India in February 2019.
“With the launch of 7-Eleven stores, RRVL as the country’s largest retailer, takes a step further in its journey of offering a superior shopping experience and compelling value proposition for Indian customers,” a Reliance statement said.
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, the company said.
7-Eleven will also support RRVL in implementing and localising the unique 7-Eleven convenience retail business model for India, including bringing its processes and practices.