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Reliance Retail to launch 7-Eleven convenience stores in India
FirstpostThe first 7-Eleven convenience store will open in Andheri East, Mumbai, on 9 October A fully-owned subsidiary of Reliance Retail Ventures Limited, 7-India Convenience Retail Limited, has inked an agreement with US-headquartered 7-Eleven, Inc for the launch of 7-Eleven convenience stores in India. The new pathways we build together with SEI will offer Indian customers greater convenience and choices within their own neighbourhoods.” In a similar vein, Joe DePinto, SEI President and Chief Executive Officer, said, “Our strategic relationship with RRVL will bring 7-Eleven’s brand of convenient products and services to millions of Indian consumers starting in the city of Mumbai. ”The development comes on the heels of SEI mutually terminating its agreement with debt-ridden Future Retail to open small-format shops across India’s top cities. In an official statement, Future Retail disclosed that the agreement was terminated with mutual consent “as Future7-India Convenience Limited could not meet store opening targets and pay franchise fees”.
History of this topic
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RIL Q2 profit jumps 46% to Rs 15,479 cr compared to last year; consolidated revenue at Rs 1.74 lakh cr – Firstpost
Firstpost)
Reliance Retail to Launch 7-Eleven Stores in India, Starting with Mumbai
News 18
India’s Reliance: Mukesh Ambani is bringing 7-Eleven to the country
CNN
First 7-Eleven store in India to open this year, pact signed with Future Retail
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