Convenience stores

RRVL signs agreement to open 7-Eleven convenience stores in India

Indian retail holding company Reliance Retail Ventures Limited (RRVL) has entered into a master franchise agreement with US convenience store chain 7-Eleven.

RRVL has entered into the agreement to open 7-Eleven stores in India through its subsidiary 7-India Convenience Retail.

In accordance with this agreement, 7-India Convenience Retail Limited will open India’s first 7-Eleven store on October 9 in Mumbai, which is considered the financial capital of the country.

The two-story, 1,700-square-foot store will feature the retailer’s signature food, beverage, merchandise and delicacies designed for the local market.

Located on the first floor of the Atul Blue Fortuna apartments in the Andheri East suburb of Mumbai, the store will also feature a cafe.

Plans are in place to launch additional 7‑Eleven stores in key neighborhoods and shopping areas of the Greater Mumbai cluster.

RRVL Director, Isha Ambani said, “At Reliance, we pride ourselves on offering the best to our customers and we are proud to bring 7-Eleven, the globally trusted convenience store, to India.

“7-Eleven is one of the most iconic global brands in the convenience retail landscape. The new lanes we are building with 7-Eleven will provide Indian customers with more convenience and choice in their own neighborhoods. »

7-Eleven President and CEO Joe DePinto said, “India is the second largest country in the world and has one of the fastest growing economies.

“This is the perfect time for the world’s largest convenience retailer to enter India.

“Our strategic relationship with Reliance Retail will bring 7‑Eleven’s brand of convenient products and services to millions of Indian consumers from the city of Mumbai.

The announcement comes after Indian retailer Future Retail canceled a master franchise agreement it had signed with 7-Eleven.

Future Retail entered into the agreement in February 2019 to establish and operate 7-Eleven convenience stores in India.

7‑Eleven operates more than 77,000 locations worldwide, including 4,000 in the United States.