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Reliance Industries (RIL) announced Thursday that its subsidiary Retail Ventures Limited will launch 7-Eleven convenience stores in India. The Reliance Retail subsidiary has entered into a master franchise agreement with 7-Eleven, Inc for the launch of its convenience stores in India.
The first 7-Eleven store is scheduled to open on Saturday October 9 in Andheri East, Mumbai. This will be followed by rapid deployment in key neighborhoods and commercial areas, across the Greater Mumbai cluster to begin with, RIL informed in a filing.
It comes two days after Future Retail Limited, owned by the Future Group, announced on Tuesday that it had signed the termination of the main franchise agreement with 7-Eleven after more than 2 years of plans to operate stores in India. The deal failed because the Future-7 “was unable to meet the goal of opening stores and paying franchise fees.”
RIL further informed that 7-Eleven stores aim to provide shoppers with a unique style of convenience, offering a range of beverages, snacks and delicacies as well as daily essentials refills. “SEI will also support RRVL in the implementation and localization of the unique 7-Eleven convenience retail business model for India, including bringing best-in-class processes and practices,†the sales arm said. at RIL retail.
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