The two don’t seem to be wasting any time: Reliance says the first 7-Eleven store will open in Mumbai on Saturday two days later.
“This will be followed by rapid action in key neighborhoods and business areas,” Reliance Retail said in a statement, focusing initially on the Greater Mumbai area. Customers will be offered customized drinks and snacks based on local preferences.
The announcement comes just days after 7-Eleven pulled out of a deal with another major local retailer.
On Tuesday, Futures Retail reached a mutual agreement with 7-Eleven, which will cancel the existing partnership to build and operate stores across the country.
In a brief statement, Future Retail stated that “the store could not reach the opening target and the owner was unable to pay the fee.”
In a statement on Thursday, Isha Ambani said Reliance Retail was “proud” to merge with 7-Eleven, “one of the most popular global brands in the convenient retail landscape.”
Joe Dipinto, CEO of SEI, which owns 7-Eleven, said in the same statement that it would 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 a great time for our entry into the world’s largest convenience retailer.”
– Deeksha Madhok contributed to this report.
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