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Electra Shopper Merchandise (TASE: ECP) has signed a 20-year franchise settlement with the US-based worldwide comfort retailer chain 7-Eleven to function the model in Israel, with an possibility to increase the settlement for an additional 50 years.
Electra Shopper merchandise plans to take a position NIS 60 milion in opening shops all through Israel, in line with the memorandum of understanding that either side signed in November 2020.
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7-Eleven coming to Israel
Electra Shopper Merchandise plans to open 300-400 7-eleven comfort shops round Israel with the primary retailer scheduled to open in Tel Aviv subsequent 12 months.
Electra Shopper Merchandise already owns management of the Yeinot Bitan grocery store chain. Electra Shopper Merchandise CEO Zvika Shwimmer informed “Globes,” “We have now 140 branches of Bitan and Mega within the cities and we at the moment are getting into one other sector – comfort shops which shall be situated in fuel stations and metropolis facilities. We shall be in Tel Aviv, Jerusalem, Beersheva and cities within the Arab sector, in neighborhoods in busy business areas, in hospitals, in universities, and extra. We shall be a powerful participant in malls. We have now obtained 1000’s of enquiries from franchisees and grocery retailer homeowners who wish to convert their shops. One benefit is that we’ll have a joint loyalty membership for Yeinot Bitan and 7-Eleven.”
Based in 1927 within the US, 7-Eleven has 77,000 shops in dozens of nations.
Despite the fact that the seven within the identify of the shop signifies it’s open seven days per week, Electra Shopper Merchandise says the shops will stay closed on Shabbat (Friday night-Saturday) leaving the sector open for rivals like AM:PM, and Yellow.
7-Eleven president and CEO Joe DePinto mentioned, “With its rising and flourishing inhabitants and financial growth, Israel presents the perfect location for the expansion of 7-Eleven shops. Our strategic relations with Electra Shopper Merchandise will convey the 7-Eleven model, which makes a speciality of comfort services and products to tens of millions of Israeli shoppers.”
Electra Shopper Merchandise may also import 7-Choose, the chain’s non-public label merchandise, with an emphasis on espresso merchandise.
Printed by Globes, Israel enterprise information – en.globes.co.il – on October 11, 2021
Copyright of Globes Writer Itonut (1983) Ltd. 2021
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