7 Eleven to foray into Indian mkts?

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Round the clock shopping could be just around the corner! The world's largest 24-hour convenience retailer - 7 Eleven is set to make its Indian foray reports CNBC-TV18

 

For 50 years - it's defined America and South East Asia's shopping habits through its chain of 32700 convenience stores and now 7 Eleven may storm the Indian market.  That's if its Hong Kong based franchisee - Dairy Farm has its way.

 

Dairy farm already has 101 stores in India through its 2 JV partnerships with the Rajan Raheja Group.

One for its supermarket format called Food World and the other for its health and beauty format called Health and Glow.

Now it is believed to be in talks with its Indian JV partner to launch 7 Eleven.

 

"We don't comment on market speculation." Said the spokesperson, Rajan Raheja Group.

 

But all the Rajan Raheja Group says on the possibility of a third partnership with Dairy farm is - that it does not comment on market speculation.

 

Dairy farm's stint in India has been a long and eventful one.  It entered India by signing on RPG as its partner in 1999 but in 2001, it switched partners. And Raja Raheja Group replaced RPG.

 

 

If the 7 Eleven deal does comes through- it will be India's first pan India 24 hour convenience retail chain. Currently only Delhi based KK Modi group's 24x7 offers this through its 4 to 5 stores.  Sources say the deal is likely to be struck over the next few weeks.