7-Eleven Inc, world's largest convenience retailer with more than 67,000 stores worldwide, has signed a master franchise agreement with a subsidiary of Future Retail Ltd to develop and operate 7-Eleven stores in India.
The expansion marks the company's first entry into India. The first 7-Eleven convenience store in the country is expected to open later this year.
"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 neighbourhood," said Kishore Biyani, Founder and Group CEO, Future Group.
The new master franchisee plans to build 7-Eleven stores as well as convert some of its existing locations to the brand. "7-Eleven's entry into the country will modernise the small-retail environment and bring greater convenience to shoppers," it said in a statement on Thursday.
Internationally popular products, beverages, snacks and immediately consumable fresh foods with recipes developed for local tastes will be part of the initial convenience offering.
Based at Irving in Texas, 7-Eleven operates, franchises and/or licenses more than 67,000 stores in 17 countries.
Future Group offers more than 80 brands in fashion, footwear, FMCG, food and homeware segments. These collectively attract over 500 million customers visits annually.
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