Reliance Retail Venture introduces 7-Eleven convenience stores to India
The first 7-Eleven store in India is set to open on Saturday, 9 Oct 2021, in Mumbai, India's largest city and economic powerhouse. Opened by 7-India Convenience Retail, a wholly-owned subsidiary of Reliance Retail Ventures (RRVL), this 7-Eleven store offers residents and tourists the world's largest convenience retailer's unique style of convenience, signature food and drinks, as well as products and delicacies especially created to appeal to the local market.
The store is located on the first floor of the Atul Blue Fortuna apartments on Military Road in the vibrant Marol neighborhood of the Andheri East suburb in Mumbai. The two-story 1,700-square-foot Mumbai store will have a café. Andheri is home to the city's international airport, multiple rail stations and India's Bollywood entertainment hub. A grand opening for this inaugural store will be held soon.
The 7–Eleven brand's entry into the country will modernize the small-retail environment and bring greater convenience to shoppers. Several stores are anticipated to open later this year in the Greater Mumbai cluster.
Mumbai is a city of superlatives and the ideal location for the first Indian store from the world's largest convenience retailer. It is India's financial and commercial hub, home to the Bollywood film industry and one of the top 15 wealthiest cities globally. Mumbai is also home to Reliance Industries (RIL), the largest publicly traded company in India. RRVL, through its wholly-owned subsidiary, 7-India Convenience Retail, holds the master franchise agreement with 7-Eleven to operate stores in Greater Mumbai. RRVL is a subsidiary of RIL.*
"At Reliance, we pride ourselves on offering up the best to our customers, and we are proud to bring 7-Eleven, the globally trusted convenience store, to India. 7-Eleven is among the most iconic global brands in the convenience retail landscape. The new pathways we build together with 7-Eleven will offer Indian customers greater convenience and choices within their own neighborhoods," said director of Reliance Ventures, Isha Ambani.
The new store carries high-quality products typically found at 7-Eleven stores, including internationally popular products, beverages, snacks and immediately consumable fresh foods with recipes developed for local tastes will also be part of the initial convenience offering.
7–Eleven will support RRVL to implement and localize its unique retail business model. "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 7-Eleven, president and chief executive officer Joe DePinto. "Our strategic relationship with Reliance Retail will bring 7-Eleven's brand of convenient products and services to millions of Indian consumers starting in the city of Mumbai."
Around the globe, 7-Eleven stores' mission is the same - to give customers what they want, when, where and how they want it. India will be the 18th country or region where 7–Eleven stores operate. Others include the United States, Canada, Mexico, Japan, Thailand, South Korea, Taiwan, China, the Philippines, Singapore, Malaysia, Vietnam, Cambodia, Australia, Norway, Sweden and Denmark.
The United States, where 7-Eleven was founded almost 100 years ago, has experienced rapid expansion over the last few years. In May, the retailer acquired Speedway, expanding its US store presence by almost 4,000 stores and bringing its international store count to more than 77,000 locations globally.
*7-Eleven recently terminated a master franchise agreement with a subsidiary of Future Retail. On 7 Oct 2021, 7-Eleven announced that it had signed a master franchise agreement with Reliance Retail Ventures Ltd. to support the company's first entry into India. 7-Eleven looks forward to entering the Indian market with Reliance Retail Ventures.