7-Eleven to enter Indian market with local partner Future Retail
NEW DELHI, NNA – Japan’s largest convenience store chain, Seven-Eleven Japan Co., is entering the Indian market this year through a master franchise deal with local operator Future Retail Ltd.
The company said its wholly owned U.S. unit, 7-Eleven Inc., is giving a subsidiary of Future Retail rights to use the 7-Eleven brand in India, where mom-and-pop corner stores dominate the retail sector.
The Future Retail subsidiary will open new outlets and convert some of the 900-plus shops it operates in India into 7-Eleven brand stores, while the Japanese company will provide operational expertise, Seven-Eleven Japan said in a statement.
The Indian outlets will sell globally marketed popular foods and beverages as well ready-to-eat products tailored to the local market, according to the statement.
A Seven-Eleven Japan spokesman in Tokyo declined to comment on when and where new stores will open.
Seven-Eleven Japan stores totaled 67,480 globally at the end of December. India is the 18th country it has entered.