Future Group has named Hardeep Singh as the chief executive officer for the 7-Eleven retail stores in India. The group is the master franchisee for these stores which are part of the world's largest convenience chain.
Singh had joined Future Group last year on account of the acquisition of Vulcan Express by the group. Singh founded the Vulcan Express and had grown the last mile supply chain capabilities for Snapdeal and other ecommerce companies.
In the announcement, Kishore Biyani, CEO of Future Group, stated that the growth and expansion of 7-Eleven "will be a critical part of growing our food and FMCG brands and bringing new services, formats and conveniences for our customers. An effective supply chain and distribution setup will define the future of a retail format like 7-Eleven."
He added that the Future group will be combining food services, convenience, and customer service in every urban neighbourhood through 7-Eleven stores.
Future Retail, which runs 1,444 stores in 409 cities, clocked sales of Rs 14,768 Cr during nine months ended December 2018. Meanwhile, the Japanese-owned, US-headquartered 7-Eleven at a group level, clocked nearly $100 Bn in annual sales last year from over 67,000 stores. The 7-Eleven partnership is expected to add business worth a billion dollar in the next seven years.
Singh’s appointment comes as the group aims to leverage on his over 20 years of experience in retail industry, such as leading the supply chain and logistics function at WalMart India and CEO of the first private container train operator on Indian Railways named Inlogistics amongst others.