7-Eleven to have 8 stores in 1st phase of launch in Mumbai

Future Retail will open 8 stores of 7-Eleven, the world's largest convenience store chain, in the first phase of launch in India. All outlets of 7-Eleven in the first phase will be set up in Mumbai.

Earlier, 7-Eleven had signed a franchise agreement with Future Retail subsidiary SHME Food Brands, whereby the latter had acquired 100% equity share capital of SHME, making the firm its subsidiary.

Kishore Biyani, Chief Executive Officer of Future Group, said, "We are working on two pilots in terms of store size. Our attention, for now, will be on Mumbai. We are working out the locations where they should be set up."

Future Group is eyeing at stores with a size of 1,200 sq ft and 2,000 sq ft for the convenience store. Some of the existing locations of SHME Food Brands, a trading and distribution company, will further be converted into 7-Eleven stores.

Besides fresh food, 7-Eleven stores in Mumbai will also have snacks and confectionary and will stock some of the food brands of Future Consumer, the fast-moving consumer goods subsidiary of the group.

Ken Wakabayashi, senior vice-president and head of international at 7-Eleven, stated, "As part of the first phase, internationally popular products and recipes developed for local tastes would be available in stores in India."