Japanese media: Unable to withstand competition from local retailers, 7-Eleven closes all stores and exits the Indian market.

According to a report by Japan Today on the 7th, Japanese retail giant Seven & i Holdings stated on the 6th that all stores of its convenience store chain brand 7-Eleven in India have been closed. Japanese media said the brand withdrew from the Indian market because it was difficult to withstand fierce competition from local Indian retailers. India's Economic Times reported that as of March this year, 7-Eleven India achieved revenue of approximately 920 million rupees and a net loss of nearly 900 million rupees. In a statement released by Seven & i Holdings, it confirmed that Indian company Reliance Retail closed all 31 7-Eleven convenience stores operating in Mumbai and Pune, India, on September 30.