India's Future Group plans to roll out the first 7-Eleven convenience store in the country before March 2020, NewsRise reported Dec. 13, citing Future Group founder Kishore Biyani.
The conglomerate is looking to open 1,000 small-format stores in Mumbai, where 7-Eleven operations will be concentrated for at least the next two or three years, Biyani reportedly told the news outlet.
Future Group and Seven & i Holdings Co. Ltd., which owns the 7-Eleven brand, reached a deal in February to allow the Indian company to operate 7-Eleven stores in India as a master franchisee, and convert some of its existing locations to the 7-Eleven brand.
In July, the Nikkei reported that Seven & i planned to open more than 500 7-Eleven branches in India over the next three to five years with plans to expand into New Delhi, Chennai and Bengaluru.
Future Group and Seven & i did not immediately respond to S&P Global Market Intelligence's requests for comment.