7-Eleven Signs Agreement with Electra Consumer Products to Operate in Israel
First Store Anticipated to Open Next Year
October 13, 2021 // Franchising.com // IRVING, Texas - 7-Eleven, Inc. has signed a master franchise agreement with Electra Consumer Products Ltd. to develop and operate 7-Eleven® stores in Israel. Electra is a subsidiary of ELCO LTD. (TASE: ELCO), a leading Israeli company with a multi-faceted portfolio of business interests. The expansion marks the 7-Eleven brand's first entry into Israel.
The first 7-Eleven convenience stores in Israel are expected to open in 2022. The 7-Eleven brand's entry into the country will bring greater convenience to shoppers with its signature small-retail environment and internationally popular products, beverages, snacks and immediately consumable fresh foods.
"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. As we begin to introduce 7-Eleven stores to neighborhoods across Israel, we are dedicated to offering the best shopping experience and products available," said Electra Consumer Products CEO Zvika Schwimmer.
7-Eleven will support Electra Consumer Products to implement and localize the brand's unique retail business model.
"With its vibrant growing population and continued economic expansion, Israel presents an ideal location for 7-Eleven stores," said 7-Eleven, Inc. President and CEO Joe DePinto. "Our strategic relationship with Electra Consumer Products will bring 7-Eleven's brand of convenient products and services to millions of Israeli consumers."
In addition to Israel, 7-Eleven recently entered the country of 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, Viet Nam, Cambodia, Australia, Norway, Sweden and Denmark.
Around the globe, 7-Eleven stores' mission is the same: to give customers what they want, when, where and how they want it. Soon, Israeli consumers will be able to experience first-hand 7-Eleven's trademark "Everyday Quality and Convenience."
SOURCE 7-Eleven, Inc.
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