7-Eleven, a convenience retailer with more than 67,000 stores worldwide, has signed a master franchise agreement with a subsidiary of Future Retail to develop and operate its stores within India.
The expansion marks the company's first entry into India. The first 7-Eleven convenience store in India is expected to open in 2019. The new master franchisee plans to build 7-Eleven stores as well as convert some of its existing locations to the 7-Eleven brand.
Eleven's entry into the country will modernise the small-retail environment and bring greater convenience to shoppers. Internationally popular products, beverages, snacks and immediately consumable fresh foods with recipes developed for local tastes will be part of the initial convenience offering.
â€œEleven, Inc. 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, Founder and Group CEO, Future Group.
"This strategic relationship offers an excellent opportunity to bring 7-Eleven's brand of convenience and its iconic products to the Indian consumer," added Ken Wakabayashi, SVP and Head of International, 7-Eleven.
India will be the latest country or region where 7-ElevenÂ® stores operate currently, including the United States, 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.