DALLAS --7-Eleven Inc. (SEI), the world’s largest convenience-store retailer with 56,400 locations worldwide, has signed a master franchise agreement with Seven System Vietnam Co. Ltd. to develop and operate 7-Eleven stores in Vietnam.
The expansion marks the company’s first stake in the Pacific Rim since 7-Eleven entered Indonesia in 2009.
7-Eleven’s entry into the country aims to enhance the convenience-store shopping experience for Vietnamese customers and contribute to modernizing small retailers in the world’s 13th most populous country.
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 startup 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.
Citing Japanese retail giant Seven & i Holdings Co., which owns Seven-Eleven Japan, the Kyodo News said that Vietnam’s first 7-Eleven store is expected to be opened in Ho Chi Minh City sometime between April 2017 and April 2018.
The number of 7-Eleven stores in the country will then be expanded to 100 in three years and to 1,000 in 10 years, according to the Tokyo-based news agency. Seven System Vietnam will receive product development and other know-how fostered in Japan from four employees seconded to the country by Seven-Eleven Japan, said the report.
Vietnam will be the 18th country or region where 7-Eleven stores operate. In addition to the United States, other countries include Canada, Mexico, Japan, Thailand, South Korea, Taiwan, China (including Hong Kong), The Philippines, Australia, Singapore, Malaysia, Indonesia, Norway, Sweden, Denmark and the United Arab Emirates, where its first 7-Eleven store will open early this autumn.
Dallas-based 7-Eleven Inc. operates, franchises or licenses nearly10,500 7-Eleven stores in North America. Globally, there are more than 56,400 7-Eleven stores in 16 countries. During 2013, 7-Eleven stores worldwide generated total sales of more than $84.5 billion.