28-Feb-19, Reuters
US-based 7-Eleven Inc expects to open its first branded store in India in 2019, after reaching a deal with Future Retail Ltd to run the chain in the Asian nation.
%20Reuters_Toru%20Hanai.jpg "Future Retail secures deal to open 7 Eleven stores in India (c) Reuters Toru Hanai")
Image: Reuters / Toru Hanai
Future Retail, which operates local retail chains such as Food Hall and Nilgiris, plans to set up 7-Eleven stores from scratch and convert some of its existing operations into the US brand.
Shares in Future Retail, founded by Kishore Biyani, has 1,444 stores, closed up 3.2 percent after the announcement.