World's large convenience store chain signs franchisee agreement with local company.
7-Eleven, the world’s largest convenience store chain, has signed a master franchise agreement with Seven System Vietnam Co. Ltd. to develop and operate 7-Eleven® stores in Vietnam, according to a press release issued from Dallas, where it is headquartered. The expansion marks the company’s first stake in the Pacific Rim since it entered Indonesia in 2009.
“7-Eleven’s entry into Vietnam aims to enhance the convenience-shopping experience for Vietnamese customers and contribute to modernizing small retailers in the world’s 13th most populous country,” the company said.
The new master franchisee plans to construct 7-Eleven stores, convert existing locations to the 7-Eleven brand supported by enhanced infrastructure, and eventually franchise operations to local businesspeople.
Internationally popular products like Slurpee® frozen carbonated beverages and Big Gulp® soft drinks, as well as immediately consumable fresh foods, with recipes developed for regional tastes, will be part of the convenience offerings.
“7-Eleven and its parent company, Seven-Eleven Japan, will provide start-up support for its newest master franchisee by assisting Seven System Vietnam in implementing 7-Eleven’s successful strategies of market concentration, team merchandising, and item-by-item management,” the company added.
7-Eleven is the premier name and largest chain in the convenience retailing industry. Based in Dallas, Texas, 7-Eleven operates, franchises or licenses 56,400 stores around the world. Vietnam will be the 18th country or region where 7-Eleven stores operate, joining other countries such as Japan, Thailand, South Korea, Taiwan, China, the Philippines, Australia, Singapore, and Malaysia.