October 8, 2021 01:14 PM
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.