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Private Sector | Multi State - India | PID: 191398
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If a country like Thailand has 11,000 7-Eleven stores, Mumbai can easily have 1,000 stores,” Kishore Biyani, Founder of Future Group, said while giving a peek into what he is planning for the world’s largest convenience store chain. Future Group is planning to launch the first 7-Eleven store in Mumbai around February-March in 2020.
The format of the 7-Eleven stores is likely to be different than the conventional convenience stores. Future Retail’s 7-Eleven will have a snack point, where people could buy hygienic Indian snacks while shopping. “Of course, it wouldn’t be like a cafe, it will be quick bites,” Biyani added. 7-Eleven had announced a partnership with Future Group to roll out the stores in India.
Pact with Nippon Express
Separately, Future Supply Chain Solutions Limited (FSC) signed an agreement with the Japanese logistics company, Nippon Express to expand its footprints in the logistics industry in India. The two companies will jointly start the business collaboration from January.
Nippon Express has acquired 22 per cent stake in FSC. Speaking at the event, Mayur Toshniwal, Managing Director at FSC, said the company will continue to focus on the consumption-driven sectors such as fashion footwear, FMCG, electronics and furniture.
Toshniwal further added the segments that FSC work in is likely to grow by 15-20 per cent CAGR in the next five years, “Our vision is to go from ?1,500 crore revenue to ?10,000 crore in the next 3-5 years using our technology and world-class infrastructure.”
Satoshi Horikiri, Senior Managing Executive Officer, Nippon Express, said that partnership was important for their long-term vision of becoming a logistics company with a strong presence in global market. “To be specific, we hope to increase our sales outside Japan from our current sales of $4 billion to $12 billion by 2028 and become a proud world-class logistics company,” he added.
| Updated on: 12 - Dec - 2019
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