Seven & i Holdings partners with Future Retail to develop and operate its iconic brand in the country.
First stores expected this year
7-Eleven, the world’s largest convenience retailer, announced that it has signed a master franchise agreement with Future Retail to begin operations in the country.
The deal looks set to benefit both parties as the Future Group gains access to global technology and processes while 7-Eleven will leverage on the retail experience and local knowledge of Future Retail.
It remains unclear how 7-Eleven will coexist with the 1,300 Easyday stores that Future Retail currently operates. The group has already stated that it will rebrand some of its existing stores.
Giving shoppers greater convenience
By introducing greater convenience to shoppers, 7-Eleven’s entry into India looks set to accelerate the modernisation of this channel. Kishore Biyani, founder and group chief executive officer of Future Group said, “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."
Future Retail is one of India’s largest multi-format retailer and currently operates Big Bazaar, Hypercity, Nilgiris, Heritage Fresh and Easyday banners. Its loyalty programmes, Big Bazaar Profit Club and Easyday Savings Club, has close to 30m members.
With more than 65,000 stores globally, 7-Eleven has successfully introduced the convenience format into more than 18 countries worldwide. In Japan alone, it operates over 20,000 stores.
Find out more information about Future Retail here and Seven & i Holdings here.