Future Retail to run 7-Eleven stores in India

The Indian big-box retailer has entered a franchise agreement to operate 7-Eleven brand of stores in the country. 7-Eleven is a global convenience store stocking internationally popular brands of snacks and beverages.

To facilitate this master franchisee arrangement, Future Retail acquired 100 per cent equity share capital of SHME Food Brands Private Limited (SHME) through a cash consideration, thus making SHME it's subsidiary. SHME is a trading and distribution company engaged in the retail industry. SHME and 7-Eleven, Incorporated will develop and operate the 7-Eleven stores.

Future Retail plans to open the first 7-Eleven store in 2019. The partnership will build new stores as well as convert some of the existing locations to the 7-Eleven brand. These stores will target the young and aspirational shoppers with a modern retail environment and greater convenience. It will offer iconic brands of beverages, snacks and fresh foods including the Slurpee, Big Bite and Big Gulp as well as 7-Eleven salads, protein boxes, pizza, chicken wings, cheeseburgers and hot chicken sandwiches.

Meanwhile, at 14:19 hours, the stock of Future Retail was trading at Rs. 428.00 per share, up by Rs. 18.75 or 4.58 per cent on Thursday.