Reliance Retail Ventures (RRVL), on October 7, declared it would launch the US-based 7-Eleven go-to-convenience stores in India.
The company said that the first 7-Eleven store is set to open on October 9 in Andheri East, Mumbai. Following this, there will be a “rapid rollout” of the stores over key areas and commercial zones in Greater Mumbai.
“Reliance Retail Ventures Limited (“RRVL”), through its wholly-owned subsidiary, 7-India Convenience Retail Limited, has entered into a master franchise agreement with 7-Eleven, Inc. (“SEI”) for the launch of 7-Eleven convenience stores in India,” RRVL said in a statement.
RRVL is the retail division of Mukesh Ambani-LedReliance Industries. RRVL’s statement comes days after Future Group announced it had cancelled its agreement with 7-Eleven Inc, indicating the inadequacy to “meet the target of launching stores and payment of franchisee fees”.
Isha Ambani, Director, RRVL, responded, “At Reliance, we pride ourselves in offering the best to our customers, and we are proud to bring 7-Eleven, the globally trusted convenience store, to India. 7-Eleven is among the most iconic global brands in the convenience retail landscape. The new pathways we build together with SEI will offer Indian customers greater convenience and choices within their own neighbourhoods.”
“India is the second-largest country in the world and has one of the fastest-growing economies. It’s an ideal time for the largest convenience retailer in the world to make our entry into India,” answered SEI President and Chief Executive Officer Joe DePinto.
“With the launch of 7-Eleven stores, RRVL as the country’s biggest retailer, takes a step further in its journey of offering a superior shopping experience and compelling value proposition for Indian shoppers,” stated the RRVL press release.
The 7-Eleven physical stores will offer a variety of beverages, snacks and treats along with everyday essentials. The stores are expected to increase local employment and develop an ecosystem for customers to access daily food essentials conveniently.
7-Eleven, Inc. is a multinational string of convenience stores headquartered in Dallas, Texas. The chain was established in 1927 as an ice house storefront in Dallas. It was titled Tote’m Stores between 1928 and 1946.