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7-Eleven promised "Everything essential". It still lost to India's corner shops
Description
“Mile har cheez zaruri.” Everything essential, right here.
That was the promise on the signs inside India’s first 7-Eleven, which opened in Mumbai five years ago, with India’s biggest retailer behind it.
This September, the last 31 stores shut. In its last full financial year, the chain lost nearly ₹90 crore on just ₹92 crore of revenue. Analysts point to local competition like kiranas and quick commerce.
But no one from the companies themselves have offered an explanation for why the stores are closing. Still, this is a chain that thrives next to corner shops in other countries. So what was missing here? Host Rachel Varghese explores.
This episode is edited by Arnav Prakash
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