7-Eleven, an American convenience store, has signed an agreement with Future Group. Under the agreement, the company gives its right to Future group to open and manage its retailing brand stores in India, as reported by the Indian daily news, The Economic Times.
As per the reports, the subsidiary of Future Retail, SHME Food Brands, will initiate newer stores and transform existing stores to 7-Eleven brand in the beginning of this year. 7-Eleven, the American convenience store brand has about 67,000 stores globally. The brand majorly deals in beverages, snacks and fresh foods.
Ken Wakabayashi, International head of 7-Eleven Inc., said, his strategic relationship offers an excellent opportunity to bring 7-Elevens brand of convenience and its iconic products to the Indian consumer. 7-Eleven will support Future Retail Ltd to implement and localize the unique 7-Eleven business model. as reported by the Indian daily news, The Economic Times.
The Japanese businessman led- American convenience store, 7-Eleven receives one-third of its sales from an Asian country. The recent move taken by Future Group is suggestive of its pitching against Twenty Four-Seven store, backed by Modi Entreprises.
Kishore Biyani, Founder of Future Group,said, 7-Eleven, Inc. 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 neighbourhood. as reported by the Indian daily news, The Economic Times.