IRVING, Texas — 7-Eleven Inc. has signed a master franchise agreement with a subsidiary of Future Retail Ltd. to develop and operate 7-Eleven convenience stores within India. The company expects its first 7-Eleven c-store in India 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. 7-Eleven’s entry into the country will modernize the small-retail environment and bring greater convenience to shoppers, the company said. Internationally popular products, beverages, snacks and immediately consumable fresh foods with recipes developed for local tastes will be part of the initial convenience offering.
“7-Eleven 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 neighborhood,” said Kishore Biyani, founder and group CEO of Future Group, the parent company of Future Retail.
7-Eleven will support Future Retail to implement and localize the 7-Eleven business model. “This strategic relationship offers an excellent opportunity to bring 7-Eleven’s brand of convenience and its iconic products to the Indian consumer,” said 7-Eleven Senior Vice President and Head of International Ken Wakabayashi.
India will be the newest country or region where 7-Eleven stores operate; currently these include 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.
- 7-Eleven is No. 1 in the Top 40 update to CSP's 2018 Top 202ranking of U.S. c-store chains by number of retail outlets.
Future Group is guided by the principle of “Rewrite Rules, Retain Values” in shaping the consumption space in India, said the company. It offers more than 80 brands in fashion, footwear, fast-moving consumer goods, food and homeware segments that contribute almost half of its sales through the retail chains forming part of its network. Big Bazaar, Central, EasyDay, Foodhall, Brand Factory, Nilgiris, Heritage Fresh, fbb and WH Smith in India are owned and operated by the organizations within Future Group, and these collectively attract more than 500 million customers visits annually, it said.
Based in Irving, Texas, 7-Eleven operates, franchises or licenses more than 67,000 stores in 17 countries, including 11,800 in North America.