7-Eleven Adds New Master Licensee in Vietnam
DALLAS — 7-Eleven Inc. has signed a master franchise agreement with Seven System Vietnam Co. Ltd. to develop and operate 7-Eleven convenience stores in Vietnam. This marks the company's first expansion into the Pacific Rim since 7-Eleven 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.
As the new master franchisee, Seven System Vietnam 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, such as Slurpees and Big Gulps, will be available alongside immediately consumable fresh foods with recipes developed for regional tastes.
7-Eleven and its parent company, Seven-Eleven Japan, will provide start-up support by assisting Seven System Vietnam in implementing 7-Eleven's strategies of market concentration, team merchandising and item-by-item management.
Vietnam will be the 18th country or region where 7-Eleven stores operates. Along with 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.