Seven-Eleven Japan has entered into a joint venture to ease its way into China.
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Japan’s largest convenience store operator, the company has hooked up with Beijing ShouLian (Capital Allied) Commercial Group and China National Sugar and Alcohol Group in a three-way venture. The three parties have contributed 65%, 25% and 10% of the new company’s US$35m starting capital respectively, reported Jiji Press.
The new company is called Seven-Eleven (Beijing) Co. Ltd and is expected to open its first store in Beijing within the next few months. This is the first time that China’s central government has approved the establishment of a convenience store operator with the involvement of foreign capital, Seven-Eleven said in a statement.
