Japanese-owned and Irving, TX-headquartered American convenience retailer, 7-Eleven, signed a franchise agreement with India's Future Retail to operate its stores in India. Future Retail's subsidiary, SHME Food Brands, will launch the stores this year. "7-Eleven is among the most iconic global brands in the food retail landscape. We are proud...
Skechers Takes Control of Its Business in India
Manhattan Beach, CA-based Skechers USA acquired the 49 percent stake of its joint venture with Future Group of Mumbai owned by Indian retail billionaire, Kishore Biyani, and created a new company, Skechers South Asia Private Limited. India ranks among the fastest growing and largest international market for Skechers which has...
NZ's Fonterra Forms Dairy Joint Venture
New Zealand-based Fonterra, the world’s largest dairy exporter, announced a joint venture with Mumbai-based Future Group to produce a range of consumer and food service dairy products for the Indian market. The new entity which will be known as Fonterra Future Dairy Partners, will enable Fonterra to establish a presence...
Walmart India Appoints New COO
Walmart appointed Devendra Chawla as its chief operating officer in charge of merchandising, marketing, and the company's omnichannel function in India. He will report to Walmart India CEO Krish Iyer. Earlier, Chawla worked at Reliance Retail, Coca-Cola, Asian Paints, and the Future Group and has experience in retailer development. Walmart...
Future Group India Raises $45 Million from Cargill's Private Equity Arm
Future Consumer Enterprise Ltd., the food and consumer goods division of Kishore Biyani-led Future Group, has decided to raise $45 million from Black River Asset Management, the private equity arm of U.S. food and agriculture company Cargill through preferential allotment of compulsory convertible debentures. Additionally, it will raise nearly $10...
Mibelle Partners with India’s Future Group
Mibelle, a private cosmetic manufacturer that is part of Switzerland’s retail group Migros, has partnered with India’s Future Group to understand the Indian body care market and culture and develop brands and products accordingly said its CEO Luigi Pedrocchi. The company is Europe’s third largest cosmetic producer. Gama reports...