First 7-Eleven store in India to open this year, pact signed with Future Retail
Live MintNew Delhi: The world’s largest chain of convenience stores, 7-Eleven, will make its India debut later this year. Mumbai-based Future Group-owned Future Retail said on Thursday it has signed a master franchise agreement through its subsidiary, SHME Food Brands, with 7-Eleven Inc. to develop and operate 7-Eleven stores in Asia’s third-largest economy. “7-Eleven stores could open over the next few months, starting with Mumbai,” said Kishore Biyani, founder and group chief executive officer, Future Group. We have identified corporate parks, educational institutes, bus stops, colleges, and airports.” Future Group is among the largest retailers in India with a presence across supermarkets, grocery stores, electronics, apparel, and other formats. “The organised convenience store format has seen no large, national players,” said Ankur Bisen, vice president, retail and consumer products, at consulting firm Technopak.
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