On Thursday, Reliance Retail Ventures Limited (RRVL) said that it has entered into a master franchise agreement with convenience store retailer 7-Eleven, Inc. (SEI) to set up its outlets in India. The first 7-Eleven store in India is set to open on 9 October, in Andheri East, Mumbai.

This will be followed by a rapid rollout in critical neighbourhoods and commercial areas across the Greater Mumbai cluster to start with, as per a filing with the stock exchanges.

RRVL is a subsidiary of Reliance Industries Limited and is the holding company of the group’s retail ventures. Reliance Retail will operate the master franchise agreement stores through its wholly-owned subsidiary, 7-India Convenience Retail.

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The move gives RRVL is the country’s largest retailer, more extensive control over the country’s retail market.
Earlier this week, Future Retail Ltd and 7-Eleven mutually terminated an agreement to open small-format shops with no outlets spread.

Reliance Retail reported a consolidated turnover of Rs 1.57 trillion and a net profit of Rs5,481 crore for the year ended 31 March 2021. Its formats include chain of grocery, electronics and apparel stores such as Reliance Fresh, JioMart, Reliance Digital, Reliance Trends among others.