CHINA: 7-Eleven to expand in south-west China
7-Eleven China will invest CNY100m (US$15.7m) in its Chengdu operations.
Japan-owned convenience store chain 7-Eleven is to expand in south-west China, starting in regional centres Chongqing and Chengdu.
Parent Seven & I Holdings has struck a deal with the Japanese trading company Mitsui and the Chengdu-based agribusiness firm New Hope Group, to help roll out the expansion, it said.
"We plan to set up a company in Chongqing in March, and open the first store in the city as soon as in October," said an official at 7-Eleven's Chengdu-based marketing department.
He also confirmed that 7-Eleven China will invest CNY100m (US$15.7m) in its Chengdu operations.
"The investment will be mainly used for increasing franchise stores, which are expected to account for 90% of our new stores opened this year," said the official, adding that it plans to add 50 stores in Chengdu.
China already has more than 1,800 7-Eleven stores in wealthy cities such as Beijing, Shanghai and Guangzhou.
7-Eleven Malaysia looks to become the best convenience retailer by constantly opening up new stores in neighbourhood locations close to prospective customers. In the near future, the retailer aims to ...
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