Headlines

Future Retail, 7-Eleven Terminate Partnership

The partnership would have opened the first 7-Eleven franchises in India

Published

3 years ago

October 6, 2021

VMSD Staff

Future Retail, 7-Eleven Terminate Partnership

Future Retail Co. (Mumbai) announced it has terminated a franchise agreement with 7-Eleven (Dallas) to operate 7-Eleven stores in India. This is reportedly due to Future Retail being unable to meet goals set for opening stores and franchise-fee payments, according to Reuters.

The agreement was ended on mutual terms from both companies. Originally announced in 2019, this agreement would have opened 7-Eleven’s first official stores in India. The pandemic is cited as a main source in being unable to meet these requirements. Future Retail has reported a loss of $2.32 million this year.

Future Retail is also currently in the middle of a legal battle with Amazon.com Inc. (Seattle) over selling its retail assets to Mukesh Ambani’s Reliance Industries.

The termination of its partnership with 7-Eleven will have no direct financial damages on the company.

Related Topics:7-eleven future retail india retail

VMSD Staff

Drawing on more than 125 years of history serving the retail design market, VMSD magazine provides retail professionals with the most up-to-date, innovative retail design ideas and industry news through its industry-leading magazine, website, social media channels and bulletins.

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