Ambani to Bring 7-Eleven Stores to Billion-Plus India Market
- Pact comes days after Future Retail dropped deal with 7-Eleven
- Move part of Ambani’s drive to seize formalized Indian retail
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Mukesh Ambani, Asia’s richest man, will bring 7-Eleven Inc.’s convenience stores to India, adding to his burgeoning retail empire in the world’s only billion-people-plus consumer market that’s open to foreign firms.
Ambani’s Reliance Retail Ltd. secured the pact just days after troubled supermarket operator Future Retail Ltd. terminated its own agreement with one of the world’s biggest convenience chains. The first 7-Eleven store will open Saturday in a Mumbai suburb, and will be followed by a further “rapid rollout” starting across India’s financial hub, Reliance Retail said in a statement Thursday, without providing financial details.