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Reliance Retail to launch 7-Eleven stores in India

Oct 07, 2021 01:26 PM IST

The first 7-Eleven store is set to open on October 9 in Andheri East, Mumbai, the company said.

Reliance retail (Image: Shutterstock)

Reliance Retail Ventures (RRVL), on October 7, said it would launch the US-based 7-Eleven convenience stores in India.

The first 7-Eleven store is set to open on October 9 in Andheri East, Mumbai, the company said. Following this, there will be a "rapid rollout" of the stores across key neighbourhoods and commercial neighbourhoods in Greater Mumbai.

"Reliance Retail Ventures Limited ("RRVL"), through its wholly owned subsidiary, 7-India Convenience Retail Limited, has entered into a master franchise agreement with 7-Eleven, Inc. ("SEI") for the launch of 7-Eleven convenience stores in India," RRVL said in a statement.

RRVL is the retail arm of Mukesh Ambani-Led Reliance Industries.

RRVL's announcement comes days after Future Group said it had terminated its agreement with 7-Eleven Inc, citing the inability to "meet the target of opening stores and payment of franchisee fees".

Shares of Reliance Industries rose more than 1 percent after the news of the agreement with 7-Eleven Inc.