Both don’t waste time: Reliance says its first 7-Eleven store in Mumbai will open on Saturday, just two days away.
This will be followed by a rapid rollout in key neighborhoods and commercial areas, with an initial focus on the Greater Mumbai region, Reliance Retail said in a statement. The shops are expected to offer customers drinks and snacks that are customized based on local preferences.
The announcement comes just days after 7-Eleven pulled out of a deal with another major local retailer.
Future Retail said on Tuesday that it has entered into a mutual agreement with 7-Eleven to end an existing partnership to develop and operate stores across the country.
Future Retail said in a brief statement that it was “not able to meet the target of opening stores and paying franchise fees”.
In a statement on Thursday, Isha Ambani said that Reliance Retail is “proud” to associate with 7-Eleven, “one of the most iconic global brands in the convenience retail landscape.”
Joe DePinto, CEO of SEI, which owns 7-Eleven, said in the same statement that the new tie-up will help bring the chain “to millions of Indian consumers”.
“India is the second largest country in the world and one of the fastest growing economies,” he said. “This is an ideal time for the world’s largest convenience retailer to enter.”
— Diksha Madhok contributed to this report.
Credit : www.cnn.com