7 Eleven Stores India : Mukesh Ambani is opening the country’s first 7-Eleven in Mumbai
Indian billionaire Mukesh Ambani is bringing 7-Eleven to the country, expanding his vast business empire into energy, chemicals, retail and telecommunications with the addition of the convenience store chain.
Following the loss of 7-Eleven’s local partner, Mukesh Ambani’s retail arm, Reliance Retail, announced on Thursday that it will open India’s first 7-Eleven stores.
Both of them appear to be on the move: It’s only two days away now, according to Reliance, for the first 7-Eleven store to open in Mumbai.
It looks like Amazon has a major advantage over competitors in India’s retail market, thanks to a victory on Monday. “This will be followed by a rapid rollout in key neighbourhoods and commercial areas,” Reliance Retail said in a statement. Customers can expect customised drinks and snacks from the shops based on the preferences of the locals.
According to the Bloomberg Billionaires Index, Mukesh Ambani is India’s richest man, worth $99.1 billion. Reliance Retail’s Isha Ambani, her father’s daughter and a director, helped announce the deal.
Ambani said Reliance Retail was “proud” to partner with 7-Eleven, “one of the most iconic global brands in the convenience retail landscape,” in a statement released on Thursday.
7-Eleven owner SEI CEO Joe DePinto stated in the same statement that the new partnership would help bring the chain “to millions of Indian consumers.”
He called India the world’s second-largest economy and one of the fastest-growing ones. A good time for the world’s largest convenience retailer to enter is now.