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 the country.
The first 7-Eleven store is set to open on Saturday in Andheri East, Mumbai. This will be followed by a rollout in key neighborhoods and commercial areas across the Greater Mumbai cluster to start with.
With the launch of the 7-Eleven stores, RRVL proposes to offer a superior shopping experience and compelling value proposition for Indian customers.
The 7-Eleven stores aim to provide shoppers with a unique style of convenience, offering a range of beverages, snacks and delicacies specifically curated to appeal to local tastes, along with refill of daily essentials, having affordability and hygiene at its very core.
With a rapid expansion plan on the anvil, it is expected to be a significant contributor to local employment and building the eco-system for convenient foods, RRVL said in a statement.
SEI will also support RRVL in implementing and localising the unique 7-Eleven convenience retail business model for India, including bringing best in class processes and practices.
Isha Ambani, Director, RRVL, said: "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 neighborhoods."
"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" said SEI President and Chief Executive Officer Joe DePinto.
"Our strategic relationship with Reliance Retail Ventures will bring 7-Eleven's brand of convenient products and services to millions of Indian consumers starting in the city of Mumbai."
EI is the premier name in the convenience-retailing industry. Based in Irving, Texas, it operates, franchises and/or licenses more than 77,000 stores in 18 countries and regions, including 16,000 in North America.
In addition to the 7-Eleven stores, SEI operates and franchises Speedway, Stripes, Laredo Taco Company and Raise the Roost locations.
Known for its iconic brands such as Slurpee, Big Bite and Big Gulp, SEI has expanded into high-quality sandwiches, salads, side dishes, cut fruit and protein boxes.