Ambani to launch 7 Eleven in India

The retail arm of Reliance Industries Limited (RIL) has announced that it has entered a franchise agreement with US-based 7-Eleven Inc (SEI) to open convenience stores in India.

Reliance Retail Ventures Limited (RRVL) said the first 7-Eleven store is set to open on October 9 in the Andheri East area of Mumbai. This will be followed by a rapid rollout in key neighbourhoods and commercial areas across the Greater Mumbai cluster, said the company in a press release.

“With the launch of 7-Eleven stores, RRVL as the country’s largest retailer, takes a step further in its journey of offering a superior shopping experience and compelling value proposition for Indian customers,” said the RRVL press release.

The 7-Eleven stores will offer a range of beverages, snacks and delicacies along with daily essentials. The stores are expected to boost local employment and build an ecosystem for customers to conveniently access daily food essentials.

RRVL’s announcement comes after Future Retail terminated its agreement with 7-Eleven as the companies could not meet targets for “opening stores and franchisee fees”.

Isha Ambani, Director, Reliance Retail Ventures Limited, said, “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 neighbourhoods.”

“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,” he added.

Future Retail had partnered SEI in February 2019 and then said they will open their small format stores starting with Mumbai in 2019 and also convert some of its other convenience stores, Nilgiri's and EasyDay, to the new brand. The stores were pitched against round-the-clock convenience store chain Twenty Four Seven, promoted by Modi Enterprises, and In & Out, which is run by state-owned Bharat Petroleum Corp Ltd.