The two don’t appear to be wasting any time: Reliance says that the first 7-Eleven store will open in Mumbai 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 area, Reliance Retail added in a statement. The shops are expected to offer customers drinks and snacks that are customized based on local preferences.
The announcement came just days after 7-Eleven had pulled out of a deal with another major local retailer.
On Tuesday, Future Retail said that it had come to a mutual agreement with 7-Eleven to call off an existing partnership to develop and operate stores across the country.
In a brief statement, Future Retail said that it “was not able to meet the target of opening stores and payment of franchisee fees” required.
In a statement Thursday, Isha Ambani said that Reliance Retail was “proud” to team up with 7-Eleven, “among the most iconic global brands in the convenience retail landscape.”
Joe DePinto, CEO of SEI, the owner of 7-Eleven, added in the same statement that the new tie-up would help bring the chain “to millions of Indian consumers.”
“India is the second largest country in the world and has one of the fastest-growing economies,” he said. “It’s an ideal time for the largest convenience retailer in the world to make our entry.”
— Diksha Madhok contributed to this report.
India’s $99 billion man is opening the country’s first 7-Eleven