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.
Go deeper with GlobalData
“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.
See Also:
China already has more than 1,800 7-Eleven stores in wealthy cities such as Beijing, Shanghai and Guangzhou.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
