The 7-eleven stores, which is going to make an entry in the Indian market with Reliance Retail Ventures, is a multinational chain of convenience stores. The stores are famous for ‘Slurpees’ and big gulp beverages. Slurpees are partially frozen soft drinks introduced in 1965.
Other products in the outlet include seven private-brand products like coffee, fresh-made daily sandwiches, fresh fruit, salads, bakery items, hot and prepared foods, gasoline, dairy products, carbonated beverages and energy drinks, juices, doughnuts, financial services, and product delivery services.
The company headquarters is in Dallas, Texas where the first outlet was inaugurated in 1927. It was launched by the name of Tote’m Stores but the name was changed after 70% of the company was acquired by Japanese affiliate Ito-Yokado in 1991, it was reorganized as a wholly-owned subsidiary of Seven-Eleven Japan Co Ltd in 2005, and is now held by Chiyoda, Tokyo-based Seven & I Holdings Co. Ltd.
As of July 2020, 7-Eleven stores has 71,100 stores in 17 countries.
How was the company formed?
In 1927, a Southland Ice Company employee by the name of John Jefferson Green began selling ice, then he started selling eggs, milk, and bread from one of 16 ice house storefronts in Dallas.
Although small grocery stores and general merchandisers were available at that time as well Thompson’s opinion was that selling products such as bread and milk in convenience stores would reduce the need for customers to travel long distances for basic items. Thus, Thompson eventually bought the Southland Ice Company and turned it into the Southland Corporation, which oversaw several locations in the Dallas area.
This company later became Tote’m Stores and was later acquired by a Japanese holding and became 7-eleven stores.
7-Eleven stores in India
India’s Reliance Retail Ventures has signed a franchise agreement with 7-Eleven, Inc., to launch convenience stores in the second most populous nation, the company said Thursday. The first 7-Eleven store in India will be set up in Mumbai.
