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 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 Future Group founder and CEO Kishore Biyani. “We plan to build a billion-dollar business in 7-8 years. It will be an opportunity for us to distribute our products,” he added.
“This strategic relationship offers an excellent opportunity to bring 7-Eleven’s brand of convenience and its iconic products to the Indian consumer,” said Ken Wakabayashi, senior vice president at 7-Eleven.
