Reliance Retail Ventures (RRVL), the country’s largest retailer with over 12,800 active stores, is all set to enter the fast-growing convenience store segment after it struck a crucial franchisee deal with American major 7-Eleven, Inc (SEI).
Days after 7-Eleven’s franchise deal with Future
Retail (FRL) fell through, RRVL grabbed the master franchisee for the
Dallas-based convenience brand for the India market, paving the way for its
foray into the space.
RRVL has already formed a wholly-owned subsidiary - 7-India
Convenience Retail - and will be inaugurating the first 7-Eleven store
at Mumbai’s Andheri East on Saturday.
According to sources, in line with the emerging trend in the
country, the upcoming stores will be larger (at 200 square feet) than the
convenience stores usually found at gas stations. With its initial plan to
launch back-to-back stores in the Greater Mumbai region, RRVL has the blueprint
ready to rapidly expand into other crucial markets, like the National Capital
Region (NCR) and Bengaluru, among others.
Isha Ambani, director, RRVL, said in a statement, “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. 7-Eleven is
among the most iconic global brands in the convenience retail landscape. The
new pathways we build together with SEI will offer Indian customers greater
convenience and choices within their own neighbourhoods.”
With this deal, 7-Eleven is the latest addition to RRVL’s dozen-odd
retail chain brands - including Reliance Fresh, Reliance Trends, and Hamleys
that it had acquired in 2019.
Founded in 1927 in Dallas as a small grocery store, 7-Eleven
got its current brand name in 1946, when its hours of operation were extended
to 7 am and 11 pm. Since then, it has expanded to 77,000 stores, with presence
in five continents and 18 countries.
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, it added. RRVL
is a subsidiary of RIL and holding company of all the retail companies under
the RIL Group.
