Japanese retailer Seven & I Holdings has confirmed plans to open as many as 300 stores in Shanghai over the next five years.
Earlier this week, the convenience store chain opened four stores saying it will be competitive in an already very crowded market by offering “unique offerings of hot food and its stores”.
“Our stores will also be 50% larger than the average Shanghai convenience store, while providing services like photocopying and fax machines to lure customers,” Seven & I said.
It added that the company came late to the Chinese market because of the regulatory restrictions on the franchising business in China.
Seven & I are working with Taiwan’s President Chain Store Corp., the operator of 4,800 7-Eleven stores in Taiwan. President also runs the Japanese stores on the Chinese mainland.
The store’s operators have invested CNY100m (US$14.7m) in the Shanghai venture and said it expects to make a profit within four years.