Seven-Eleven Japan Co. has signed a letter of intent with President Chain Store that will see the Taiwan retailer operate 7-Eleven stores in the Chinese city of Shanghai.
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President Chain Store, a subsidiary of Taiwan-based food conglomerate Uni-President, has welcomed the long-awaited deal, despite intense competition in the convenience market in the Shanghai.
The first store is slated to open before the end of the year.
The company operates about 4,800 7-Eleven stores across Taiwan.
Previously, 7-Eleven operator Seven & I Holding’s expansion into China was marred by restrictions imposed on foreign retailers’ use of the franchise model, but this has changed since February 2005.
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By GlobalDataWhen contacted by just-food Seven & i declined to provide further information on the timing of the rollout.
Japanese retailer Seven & I Holdings, the owner of the 7-Eleven chain, is to open stores in Shanghai after signing a deal with Taiwan-based group President Chain Store.
Seven & I’s expansion into China had been marred by restrictions imposed on foreign retailers’ use of the franchise model but a change in regulations in 2005 has paved the way for the move.
President Chain Store, which already operates about 4,800 7-Eleven stores across Taiwan, has welcomed the long-awaited deal, despite intense competition in the convenience market in the Shanghai.
The first store is slated to open before the end of the year but, when contacted by just-food, Seven & I declined to provide further information on the timing of the roll-out.
