First phase of launch announced; CEO for joint venture appointed.
Eight 7-Eleven stores to open in Mumbai
After signing a master franchise agreement with 7-Eleven last month, Future Group announced that it will open eight 7-Eleven stores in Mumbai as an initial phase. In addition, the Group shared that it is exploring two different retail formats of the chain.
The Group is experimenting between two sizes for its stores – 111 sq m and 185 sq m. While the exact store locations are not finalised, it is expected to be near shopping malls, hospitals and business parks. Future Group had previously announced plans to rebrand some of its existing convenience stores.
CEO for 7-Eleven India named
Future Group has also named Mr. Hardeep Singh as the CEO for 7-Eleven India. Singh was the founder of Vulcan Express, a logistics firm that provided supply chain solutions to ecommerce platforms, before it was acquired by Future Group. Prior to that, Singh also led the supply chain and logistics function at Walmart India.
Mr. Kishore Biyani, CEO of Future Group, said that the expansion of 7-Eleven India “will be a critical part of growing our food and FMCG brands and bringing new services, formats and conveniences for our customers. An effective supply chain and distribution setup will define the future of a retail format like 7-Eleven."
Find out more information about Future Group here.
Retail Analysis Asia