You are here: Home » Companies » News
Business Standard

Reliance Retail to launch 7-Eleven stores in India after Future Group exit

Future had agreed to sell its retail assets to Reliance, but the deal hit a roadblock after challenged it.

7-Eleven | Reliance Retail | Future Group

Dev Chatterjee  |  Mumbai 

In a statement, RRV said it will rollout 7-Eleven stores in key neighborhoods and commercial areas, across the Greater Mumbai cluster to start with

Dallas-based Inc (SEI) has signed an agreement with Ventures (RRV) to launch convenience stores in India, days after Future Retail Ltd ended its deal with the US chain.

The first store will open on Saturday in Andheri, Mumbai. RRV said in a statement. It will then roll out more stores in neighbourhoods and commercial areas in the Greater Mumbai.

“At Reliance, we pride ourselves in offering the best to our customers and we are proud to bring 7-Eleven, the globally trusted convenience store, to India,” said Isha Ambani, director, Ventures Limited.

“India is the second largest country in the world and has one of the fastest-growing economies. It’s an ideal time for the largest convenience retailer in the world to make our entry into India” said SEI President and Chief Executive Officer, Joe DePinto.

Earlier this week, Future Retail said the agreement with Inc, to develop and operate the US firm's round-the-clock convenience stores in India, was terminated mututally as the could not meet targets for opening stores and franchisee-fee payments.

had agreed to sell its retail assets to Reliance, but the deal hit a roadblock after challenged it. Future has said it would bear "unimaginable" damages if the transaction doesn't go through.

(With agencies)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, October 07 2021. 08:53 IST