On Thursday, October 7, 2021, Reliance Retail Ventures Limited (RRVL) reached a franchise agreement with 7-Eleven, Inc. (SEI) for the launch of its convenience stores in India too. The opening of the first 7-Eleven will take place in Andheri East, Mumbai, on Saturday, October 9, 2021.
However, RRVL is planning to expand other 7-Eleven stores in key neighborhoods and commercial areas first, across the Greater Mumbai cluster to start with. RRVL starts off with an aim to offer a magnificent shopping experience and compelling values for Indian customers.
The 7-Eleven stores want to provide their customers an exotic style of convenience, also offer a wide range of beverages along with daily snacks and refill of daily essentials. It majorly focuses on affordability and hygiene which is an essential need in a convenience store.
Therefore, this decision and agreement is contributing to the increment of local employment and building a conventional eco-system for shopping.
A Few Words from the Director of RRVL, Ms. Isha Ambani
Ms. Isha Ambani, Director, Reliance Retail Ventures Limited, said, “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 neighborhoods.”
“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 retailer in the world to make our entry into India” said SEI President and Chief Executive Officer Joe DePinto. “Our strategic relationship with Reliance Retail Ventures will bring 7-Eleven brand of convenient products and services to millions of Indian consumers starting in the city of Mumbai.”
Previous Year Achievements of Reliance Retail Ventures Limited (RRVL)
Reliance Industries Limited (RIL) holds many subsidiary retail companies under its control, and RRVL is one of them. By the end of the financial year March 31, 2021, RRVL ended up with a consolidated turnover of Rs. 1,57,629 crores ($ 21.6 billion), with net profit of Rs. 5,481 crores ($ 750 million).
RRVL stands as an unbeatable retailer in India as it is the largest and the most profitable retailer with the widest reach. Furthermore, according to Deloitte’s Global Powers of Retailing 2021 index, RRVL is among the fastest-growing retailers in the world. Moreover, it is ranked 53rd in the list of Top Global Retailers and is the only Indian Retailer to feature in the Top 100.
About 7-Eleven, Inc. (SEI)
SEI is one of the biggest names in the retailing industry. It holds more than 77,000 stores in 18 countries and regions, including 16,000 in North America. SEI also operates and franchises other big companies too like Speedway, Stripes, Laredo Taco Company, and Raise the Roost.
SEI is also known for its iconic brands like Big Gulp, Big Bite, and Slurpee. Currently, 7-Eleven has over 40 million members and the customers can earn and redeem points on various items in stores through its 7 Rewards loyalty program. Customers can also place their orders from the 7NOW delivery app in over 1,300 cities.
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