Future Retail, 7-Eleven scrap agreement for India

New Delhi: Future 7-India Convenience Limited, Future Retails wholly owned subsidiary, and 7-Eleven Inc have mutually terminated the agreement to execute 7-Eleven stores in India.

The master franchise agreement was originally executed for developing and operating 7-Eleven stores within India.

The termination has been with mutual consent as Future-7 was not able to meet the target of opening stores and payment of franchisee fees.

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“No financial or business impact on the Company as this arrangement was at subsidiary company level,” Future Retail said in an exchange filing.

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