International Convenience retailer 7-eleven has signed a franchise agreement with the a subsidiary of Kishore Biyani led Future retail. The deal has marked the entry of new convenience store brand in India. 7-eleven is the largest convenience retailer brand in the world, with around 67,0000 stores functioning across the world.
“This strategic relationship offers an excellent opportunity to bring 7-Eleven’s brand of convenience and its iconic products to the Indian consumer,” added 7-Eleven, Inc. SVP and Head of International Ken Wakabayashi.
Board of Future Retail has approved the master franchise agreement between its subsidiary and 7-eleven group.
With the new deal in place 7-Eleven will be opening its new stores as well as converting some of the Future Retail stores with its brand name.
Commenting on the new agreement, Kishore Biyani, Founder & Group CEO, Future Group, said “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.”
Now, this joint venture between India’s one of the biggest retailer and world’s largest Convenience retail brand will surely leave a big impact on the growing Indian market.