7-Eleven Signs Master Franchise Agreement for Israel, Its Debut in the Country
7-Eleven has signed a master franchise agreement with Electra Consumer Products Ltd. to develop and operate 7-Eleven convenience stores in Israel. Electra is a subsidiary of ELCO Ltd., an Israeli company with a multi-faceted portfolio of business interests. The expansion marks the brand’s first entry into Israel.
7-Eleven will support Electra Consumer Products to implement and localize the brand’s unique retail business model. The first stores in the country are expected to open in 2022.
“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,” said Electra Consumer Products CEO Zvika Schwimmer.
“With its vibrant growing population and continued economic expansion, Israel presents an ideal location for 7-Eleven stores,” said 7-Eleven President and CEO Joe DePinto.
In addition to Israel, 7-Eleven recently entered India with its first store there opening in Mumbai. Other countries and regions with a 7-Eleven presence include the United States, Canada, Mexico, Japan, Thailand, South Korea, Taiwan, China, the Philippines, Singapore, Malaysia, Vietnam, Cambodia, Australia, Norway, Sweden, and Denmark.
Founded in 1927, Japanese-owned 7-Eleven, Inc. is headquartered in Dallas. Worldwide, the company operates, franchises, and licenses 71,100 stores in 17 countries (as of July 2020.)
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