Vietnam’s convenience store market is about to get a bit more competitive with 7-Eleven announcing that it will open its first location in the country by early 2018.
The international convenience store chain has signed a master franchise agreement with Seven System Vietnam Co. Ltd., a new company set up by a Vietnamese restaurant chain, reports Nikkei, citing a press release from 7-Eleven’s Dallas headquarters.
“7‑Eleven’s entry into the country 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.
This is the first Asian expansion for the Japanese-owned company since 2009 when it entered Indonesia.
7-Eleven’s Vietnam stores will offer up a number of the chain’s popular offerings such as Slurpee® frozen carbonated beverages and Big Gulp® soft drinks.
According to Kyodo News, the first location is expected to open in Saigon, “…in the year from April 2017.” Within three years it will expand to 100 stores and 1,000 within ten years.
7‑Eleven has 56,400 stores in 18 countries across the globe, netting the company US$84.8 billion in revenue back in 2009, the last year these figures are available.
[Photo (for illustrative purposes) via Tips Thailand]
