7-Eleven to Set Up Shop in Middle East
DALLAS – 7-Eleven Inc. signed a master franchise agreement with Seven Emirates Investment LLC to develop and operate 7-Eleven stores in the United Arab Emirates (UAE). The expansion will mark the brand's first entry into the Middle East.
His Highness Sheikh Zayed Bin Sultan Bin Khalifa Al Nahyan will serve as president of the newly formed Seven Emirates Investment. He is the grandson of current UAE President, His Highness Sheikh Khalifa Bin Zayed Bin Sultan Al Nahyan.
The first 7-Eleven store in the UAE is expected to open next summer in Dubai. Seven Emirates Investment plans to construct new 7-Eleven stores, as well as convert existing locations to the 7-Eleven brand. 7-Eleven's entry into the country provides a solution to the UAE government's strategic initiative to modernize the small-retail environment and bring greater convenience to shoppers, the company said.
Internationally popular 7-Eleven products, such as Slurpee and Big Gulp, will be part of the convenience offering for sale, as will immediately consumable fresh foods, with recipes developed for regional tastes.
7-Eleven Inc. and its parent company Seven & I Holdings Inc. will provide startup support for the newest master franchisee; assist Seven Emirates Investment in implementing its successful strategies of market concentration, team merchandising and item-by-item management; and establish a field office in Dubai, according to the announcement.
"The UAE is a growing and dynamic part of the world and is attracting investment from around the globe," said 7-Eleven Inc. President and CEO Joe DePinto. "It is the business gateway to the Middle East and offers an excellent environment for 7-Eleven's first retail venture in the region."
The UAE will be the 17th country or region where 7-Eleven stores operate.