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Future Retail Ltd said Thursday that its subsidiary SHME Food Brands signed a franchise agreement with 7-Eleven Inc, headquartered in the United States, to operate its stores in India, marking the convenience of the retailer's entry into the country.
The company said that Big Bazaar, Foodhall and Nilgiris, which run local retail chains, planned to build 7-Eleven stores and convert some of their existing businesses into American brands.
7-Eleven, owned by Japan's Sieven & I Holdings, has more than 67,000 stores in 17 countries. With the entry of retail giants such as Amazon and Wal-Mart, it has entered the Indian market.
Compared with the flat Mumbai market, retail stocks will gain the most in the next five weeks, up 5.7%.

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