Israeli consumer electronics retailer Electra Consumer Products has signed a master franchise agreement with US-based convenience store chain 7-Eleven.
Electra will develop and operate 7-Eleven stores in Israel, with the first store expected to open next year.
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The 7-Eleven brand is expected to provide a more convenient shopping experience with its signature small-retail environment.
It will offer beverages, snacks and ready-to-eat fresh foods, as well as other products popular worldwide.
Electra Consumer Products CEO Zvika Schwimmer said: “When looking to enter a new retail segment, we knew we wanted a company that had the experience and international reputation to deliver a first-class experience for Israeli customers.
“7‑Eleven introduced the world to convenience retailing and, today, is the undisputed international leader in the industry.
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By GlobalData“As we begin to introduce 7‑Eleven stores to neighbourhoods across Israel, we are dedicated to offering the best shopping experience and products available.”
7-Eleven will support Electra in its efforts to implement and localise the brand’s retail business model.
7‑Eleven president and CEO Joe DePinto said: “With its vibrant growing population and continued economic expansion, Israel presents an ideal location for 7‑Eleven stores to grow.
“Our strategic relationship with Electra Consumer Products will bring 7‑Eleven’s brand of convenient products and services to millions of Israeli consumers.”
The agreement marks 7-Eleven’s entry into Israel, which will be the 19th country in which the brand operates.
Earlier this month, the company signed a master franchise agreement with Indian retail holding company Reliance Retail Ventures Limited (RRVL) to develop and operate stores in the country.
7-India Convenience Retail will open India’s first 7‑Eleven store on 9 October in Mumbai, which is understood to be the country’s financial capital.
The brand has more than 77,000 stores worldwide in total, with operations in the US, Canada, Mexico, Japan, Australia, Norway, Sweden and Denmark among other countries.
