Skip to content
Search

Latest Stories

Reliance to open first 7-Eleven convenience store in Mumbai suburb

ASIA's richest man Mukesh Ambani is set to open India's first 7-Eleven convenience store, as his Reliance conglomerate boosts its retail presence in the vast market of 1.3 billion people.

Thursday's (7) announcement of a franchise agreement comes two days after India's second-largest supermarket chain Future Retail terminated its 2019 deal with 7-Eleven to open 1,000 stores.


India's retail sector is dominated by family-owned "mom and pop" outlets, but oil-to-telecoms conglomerate Reliance Industries added 1,500 new stores last year to make a total of nearly 13,000.

"7-Eleven is among the most iconic global brands in the convenience retail landscape...(and) will offer Indian customers greater convenience and choices within their own neighbourhoods," said Isha Ambani, director of Reliance Retail Ventures and Mukesh's daughter.

The first store will open on Saturday (9) in a Mumbai suburb, followed by a "rapid rollout in key neighbourhoods and commercial areas, across the Greater Mumbai cluster to start with", Reliance said.

Debt-ridden Future Retail, which owns popular brands such as Big Bazaar, said it was unable to "meet the target of opening stores and payment of franchisee fees" amid the coronavirus pandemic.

India's Supreme Court in August blocked a $3.4-billion deal struck by Reliance to buy Future Group's retail assets after Amazon objected to it, claiming the deal amounted to breach of contract.

Based in Irving, Texas, 7-Eleven operates or licenses more than 77,000 stores in 18 countries and regions, but has faced a delayed entry to the Indian market.

Shares in Reliance Industries were more than one per cent higher in Mumbai following the announcement.

(AFP)

More For You

Jio Platforms

Jio Platforms includes India’s largest telecom operator, Reliance Jio Infocomm, with more than 500 million users. (Photo: Reuters)

Reuters

Jio IPO planned for mid-2026, AI unit announced with Meta and Google

RELIANCE Industries plans to take its telecom and digital arm, Jio Platforms, public by mid-2026, chairman Mukesh Ambani said on Friday. The announcement sets a new timeline for the long-awaited IPO of a business analysts value at over $100 billion.

At its annual general meeting (AGM), Reliance also announced the launch of an artificial intelligence unit in partnership with Google and Meta.

Keep ReadingShow less
Asda tech overhaul

Asda sales fell 0.2 per cent in the three months to June 30, 2025 (AFP via Getty Images)

AFP via Getty Images

Asda boss hails tech overhaul as key to revival despite sales slump

THE chairman of Asda has admitted the supermarket chain still faces challenges after sales slipped again over the summer, but said the completion of a major IT overhaul was crucial for its recovery.

Allan Leighton told the Times that the long-delayed technology project, called Project Future, had finally been finished after years of setbacks and costs exceeding £1 billion. The work involved separating more than 2,500 systems inherited from former owner Walmart, following Asda’s 2021 takeover by TDR Capital.

Keep ReadingShow less
JLR-Getty

A logo is pictured outside a Jaguar Land Rover new car show room in Tonbridge, south east England. (Photo: Getty Images)

Getty Images

UK car exports to US rebound after trade deal

UK VEHICLE exports to the United States rose in July after a new trade deal between London and Washington reduced tariffs, industry data showed on Thursday.

According to the Society of Motor Manufacturers and Traders (SMMT), exports increased 6.8 per cent in July to nearly 10,000 units, following three consecutive months of decline.

Keep ReadingShow less
Relatives of jailed Briton appeal to UK minister in AgustaWestland row

Christian Michel

Relatives of jailed Briton appeal to UK minister in AgustaWestland row

THE family of Christian Michel, the British businessman accused of acting as a middleman in the AgustaWestland VVIP helicopter deal, has appealed to the UK government to push for his release from Delhi’s Tihar Jail.

Michel’s relatives met Foreign Office minister Catherine West in London on Tuesday (26). The Foreign, Commonwealth and Development Office (FCDO) said the minister listened to their concerns and updated them on ongoing steps being taken.

Keep ReadingShow less
Blackburn loses Issa empire as brothers move EG Group to US

Zuber and Mohsin Issa (Photo: LDRS)

Blackburn loses Issa empire as brothers move EG Group to US

ASIAN entrepreneurs Mohsin and Zuber Issa are moving the headquarters of their global forecourt company, EG Group, from Blackburn to the US in preparation for a major stock market listing in New York.

The firm confirmed that its main office will relocate to Charlotte, North Carolina, while a new base in Bolton, Greater Manchester, will handle its remaining UK operations, the Telegraph reported. The change brings an end to almost 25 years of the company being run from Blackburn.

Keep ReadingShow less