7-Eleven will open its first stores in India later this year after signing a franchise agreement with Future Group, a local retail chain.
Future Group will convert some of its existing stores into 7-Eleven stores while opening new ones across India, the companies said this week.
It is estimated that 98% of the market is occupied by neighborhood stores for mothers and children, where most Indians shop weekly. But the Future Group's Big Bazaar and other modern supermarkets are growing in popularity, and the USDA expects their share will double, from 2% to 4% by 2020.
7-Eleven, meanwhile, makes India its 18th country – a list including the United States, Mexico, Japan, China, the United Arab Emirates and Australia. The company will offer "world-class products, beverages, snacks and fresh food immediately consumable with recipes developed for local tastes," he said.
"This strategic relationship provides an excellent opportunity to introduce the Indian consumer to 7-Eleven's convenience brand and iconic products," said its international director, Ken Wakabayashi, in a statement.