Why did Japanese chain 7-Eleven shut 31 stores in India despite its 'long-term' ambitions?
New Delhi, Oct. 12 -- Japanese convenience store chain 7-Eleven may have failed in its second attempt to enter India's retail market through a franchise model, but it has no plans to give up on the country.
At the end of September, Reliance Retail, which operates 7-Eleven stores in India under a master franchise agreement, shut all 31 outlets across the country, a spokesperson for the Japanese company told CNBC in an email.
Despite the closures, 7-Eleven remains interested in expanding its presence in India. The company's spokesperson said it still aspires to serve Indian customers and "looks forward to exploring several options to advance our presence in the market over the long term."
7-Eleven partnered with Reliance Retail in 2021 a...
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