7-Eleven to foray into India through Future Group
7-Eleven, the world's largest convenience store chain, has inked a master franchise agreement with Future Group. Under this agreement, Future Group will open and manage 7-Eleven's stores in India.
SHME Food Brands, a subsidiary of Future Retail, will be opening newer stores as well as convert existing locations to the 7-Eleven brand, starting this year.
Ken Wakabayashi, International Head, 7-Eleven Inc, said, "This strategic relationship offers an excellent opportunity to bring 7-Eleven’s brand of convenience and its iconic products to the Indian consumer. 7-Eleven will support Future Retail Ltd to implement and localize the unique 7-Eleven business model."
Kishore Biyani, Founder of Future Group, stated, "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."
Future Group runs 1,444 stores in 409 cities. It is generating most of its revenue from food and grocery retailing.