Roy said the small-retail environment, including kiranas, could get modernised with the entry of 7-Eleven, which has over 67,000 stores worldwide. India is the 18th market for 7-Eleven. The stock price of both Future Retail and Future Consumer were up 3.59 per cent and 2.08 per cent on the BSE, to close trade at Rs 423.95 and Rs 46.60, respectively.
Kishore Biyani, founder and chief executive officer, Future Group, said the arrangement would offer greater choice to consumers. “7-Eleven is an iconic brand in food retail. Together we will build new pathways to offer convenience and choice to consumers,” he said. 7-Eleven said it would support Future Retail in implementing and localising its business model. As part of the first phase, globally popular products, beverages and snacks would be available in India stores, Ken Wakabayashi, senior vice-president and head of international at 7-Eleven, said.
Globally, 7-Eleven also retails liquor and cigarettes, besides food and beverages and other convenience products. It is unclear whether the Indian format will get into these categories, sector analysts said.