7-Eleven Inc. Signs Master Franchise Agreement for Its First C-stores in Cambodia
IRVING, Texas — 7-Eleven Inc. plans to welcome customers in Cambodia next year through a pact with CP ALL (Cambodia) Co. Ltd. The agreement marks the retail chain's entry into a 19th country.
The move comes as 7-Eleven signed a master franchise agreement with CP ALL (Cambodia) Co. Ltd., an indirect subsidiary of CP ALL Public Co. Ltd., to develop and operate 7-Eleven convenience stores in Cambodia.
The first Cambodian 7‑Eleven-branded convenience store is expected to open in Phnom Penh in 2021.
CP ALL was established to operate 7‑Eleven stores in Thailand under an exclusive licensing agreement with the retail chain in 1988. The first Thailand 7‑Eleven store opened in Bangkok in 1989, and CP ALL now operates close to 12,000 stores in the country, second only to Japan in the world, according to 7-Eleven.
"In the past several years Cambodia's economy has experienced dramatic growth, and in 2019 was projected to become the fastest-growing economy in the Association of Southeast Asian Nations (ASEAN). CP ALL has done a tremendous job growing the 7‑Eleven brand in Thailand, and I can think of no one better to bring our brand of convenience to consumers in Cambodia," said 7‑Eleven President and CEO Joe DePinto.
"This relationship also promises to bring additional jobs and economic opportunities throughout Cambodia," he added.
Based in Irving, 7-Eleven operates, franchises and/or licenses more than 70,000 stores around the world, including 11,800 in North America. Other countries and/or regions include Japan, Thailand, South Korea, Taiwan, China (including Hong Kong), the Philippines, Australia, Singapore, Malaysia, Viet Nam, United Arab Emirates, Norway, Sweden, Denmark and India.