INSUBCONTINENT EXCLUSIVE:
Future Group has actually terminated its contract with US-based 7-Eleven to run its shops in IndiaFuture Retail stated on Tuesday it
terminated a franchise arrangement with 7-Eleven Inc to establish and run the US business's convenience stores in India as it did not meet
the targets of opening stores and payment of franchisee fees.The two companies chose to equally terminate the arrangement, which was first
announced in 2019 stating that Future Retail would run 7-Eleven's very first top quality store in India.Media reports earlier last year had
said that the Covid-19 pandemic had stalled the implementation of the franchise agreement.Future Retail, which operates regional retail
chains such as Foodhall and Nilgiris, had actually said in 2019 it prepared to both set up brand-new stores under the brand name from
scratch and to transform a few of its existing operations into the US brand.The termination, nevertheless, would have no monetary or company
effect on Future Retail, the business stated in its declaration.
