Kishore Biyani’s Future Group on February 28 joined hands with Japanese-owned convenience chain 7-Eleven in to open its first store in India, the company said in a BSE filing. This will mark the company’s entry into the country.
The first 7-Eleven convenience store in India will open in 2019, as per the BSE notification.
7-Eleven is the world’s largest convenience store chain, which first opened in US in 1927, and operates 66,000 stores in 17 countries. It was then bought over by a Japanese firm in 2005.
The entry of 7-Eleven’s may improvise the small-retail environment and bring greater convenience to shoppers. Globally, 7-Eleven is a convenience store for stocking food, snacks, hot and cold beverages, gas, immediately consumable fresh foods and more.
Most of the stores are 24 hours a day, though the brand’s name signifies the operating hours that they usually between 7 am and 11 pm.
As per the agreement, 7-Eleven will support Future Retail to strategize and localize the unique 7- Eleven business model. “This ,” 7-Eleven, SVP and Head of International Ken Wakabayashi in a BSE filing said that strategic relationship offers an excellent opportunity to bring 7-Eleven’s brand of convenience and its iconic products to the Indian consumer
7-Eleven’s store will be the newest addition to the Future Retail store network. Up till now, Retail had chains such as Easyday, Heritage Retail, and Nilgiris, which contribute about 15 percent to sales. India would be a new territory for 7-Eleven
As of now, 7-Eleven has stores in 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.
