7-Eleven signs master franchise deal for Israel, debuts 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 multifaceted 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 country’s first stores are expected to open in 2022.
âWhen we were looking to enter a new segment of retail, we knew we wanted a company that had the international experience and reputation to deliver a first-class experience to Israeli customers,â said Zvika Schwimmer, CEO of Electra Consumer Products.
âWith its vibrant and growing population and continued economic expansion, Israel presents an ideal location for 7-Eleven stores,â said 7-Eleven President and CEO Joe DePinto.
In addition to Israel, 7-Eleven recently entered India with the opening of its first store in Mumbai. Other countries and regions with a 7-Eleven presence include United States, Canada, Mexico, Japan, Thailand, South Korea, Taiwan, China, Philippines, Singapore, Malaysia, Vietnam , Cambodia, Australia, Norway, Sweden and Denmark.
Founded in 1927, the Japanese company 7-Eleven, Inc. is headquartered in Dallas. Worldwide, the company operates, franchises and licenses 71,100 stores in 17 countries (as of July 2020.)