7-Eleven to be launched in IndiaAFP, MUMBAI, IndiaMukesh Ambani, Asia’s richest man, is set to open India’s first 7-Eleven convenience store, as his Reliance Industries Ltd conglomerate boosts its retail presence in the vast market of 1.3 billion people. Yesterday’s announcement of a franchise agreement comes two days after India’s second-largest supermarket chain, Future Retail Ltd, terminated its 2019 deal with 7-Eleven Inc to open 1,000 stores. Photo: Reuters“7-Eleven is among the most iconic global brands in the convenience retail landscape ... [and] will offer Indian customers greater convenience and choices within their own neighborhoods,” said Isha Ambani, director of Reliance Retail Ventures Ltd and Mukesh’s daughter. Debt-ridden Future Retail, which owns popular brands such as Big Bazaar, said that it was unable to “meet the target of opening stores and payment of franchisee fees” amid the COVID-19 pandemic. Based in Irving, Texas, 7-Eleven operates or licenses more than 77,000 stores in 18 countries and regions, but has faced a delayed entry to the Indian market.

Source: Taipei Times October 07, 2021 15:56 UTC