DePinto says ideal time to enter the Indian market
Reliance Retail Ventures Limited (RRVL), through its wholly owned subsidiary, 7-India Convenience Retail Limited, has entered into a master franchise agreement with Dallas-headquartered 7-Eleven, Inc (SEI) for the launch of 7-Eleven® convenience stores in India with the first store opening in at Andheri East in Mumbai on 9 Oct 2021.
“India is the second largest country in the world and has one of the fastest-growing economies. It’s an ideal time for the largest convenience retailer in the world to make our entry into India,” said SEI President and Chief Executive Officer Joe DePinto.
“Our strategic relationship with Reliance Retail Ventures will bring 7-Eleven’s brand of convenient products and services to millions of Indian consumers starting in the city of Mumbai,” he said.
More stores are to be rapidly opened key neighborhoods and commercial areas, across the Greater Mumbai cluster to start with, said RRVL in a release on 7 Oct 2021.
RRVL Director Isha Ambani said, “The new pathways we build together with SEI will offer Indian customers greater convenience and choices within their own neighborhoods. 7-Eleven is among the most iconic global brands in the convenience retail landscape.” #retail #economy #investment /fiinews.com
