The popular 7-eleven convenience stores will soon be launched in India. Asia's richest person, Mukesh Ambani's Reliance Industries, is all set to bring the stores to the country. The strong buzz is that the first 7-Eleven store will be opened in Mumbai on Saturday.
Mukesh Ambani announced it after the Indian retailer Future Group ended its deal with the US chain. For the unversed, 7-Eleven stores run round-the-clock convenience stores. The chain has more than 77,000 stores in 18 countries across the world.
The company, in a press statement, said that there will be a rapid rollout of 7-Eleven stores in key neighbourhoods and commercial areas around Greater Mumbai. President and CEO of SEI, Jeo DePinto, said that India is the second-largest country in the world and has one of the fastest-growing economies.
He further stated that the 2019 agreement with Future Group was cancelled earlier this month because the firm did not meet store opening targets and payment of franchise fees.
However, we are happy to collaborate with Reliance Retail Ventures and we think it's an idea time for the largest convenience retailer in the world to make our entry into India, "said Joe DePinto.