MUMBAI - The first convenience store in Mumbai was launched on Saturday with plans calling for more locations mainly in the nation's second largest city to be opened.
Indian conglomerate Seven i Holdings entered into a franchise agreement with 7, Eleven -- Japan's U.S. unit of Reliance Industries Group.
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 store in the world to make our entry into India, said 7 Eleven CEO Joe DePinto.
The seven i group had originally planned to open convenience stores in India with the local retail giant Future Group, but their franchise agreement ended on Tuesday without any stores opening due to Future's earnings slump. The new partnership with Reliance was announced on Thursday.
The new store features snacks, beverages and other food items as well as everyday articles such as shampoo and soap. The offerings appear to be geared towards local consumers, as such Japanese staples as rice balls could not be seen.
The 7 - Eleven stores aim to provide shoppers with a unique style of convenience, offering a range of beverages, snacks and delicacies specifically curated to appeal to local tastes, along with refill of daily essentials, having affordability and hygiene at its very core, Seven I said in a statement.
Write - labels on doors indicated that the store is open 24 hours, but business hours will be held for the time being from 7 a.m. to 11 p.m. because of the COVID - 19 pandemic