7-Eleven to Further Global Growth, Entering 18th Country
IRVING, Texas — 7-Eleven Inc. is furthering its global growth by signing 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 the India. According to 7-Eleven, its entry into the country will modernize the small-retail environment and bring greater convenience to shoppers.
The first 7-Eleven in India is expected to open this year. The new master franchisee plans to build 7-Eleven stores, as well as convert some of its existing locations to the 7-Eleven brand.
Internationally popular products, beverages, snacks and immediately consumable fresh foods with recipes developed for local tastes will be part of the initial convenience offering.
"This strategic relationship offers an excellent opportunity to bring 7-Eleven's brand of convenience and its iconic products to the Indian consumer," commented 7-Eleven Inc. Senior Vice President and Head of International Ken Wakabayashi.
7-Eleven will support Future Retail Ltd to implement and localize the unique 7-Eleven business model.
"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," said Kishore Biyani, founder & group CEO, Future Group.
India will be the newest country or region where 7-Eleven stores operate. Currently the company operates in: the United States, Canada, Mexico, Japan, Thailand, South Korea, Taiwan, China, Hong Kong, Macau, The Philippines, Australia, Singapore, Malaysia, Vietnam, United Arab Emirates, Norway, Sweden and Denmark.
Based in Irving, 7-Eleven operates, franchises and/or licenses more than 67,000 stores in 17 countries, including 11,800 in North America.