7-Eleven network hits 60,000 stores
Convenience store retail chain, 7-Eleven, has just opened its 60,000th global store and will open its first store in Vietnam next spring.
The company started out as Southland Ice Company in Oak Cliff, Texas, 89 years ago. In 1946, with stores open from 7am to 11pm, the name was changed to 7-Eleven. Stores started staying open around the clock in 1971.
In 1969, 7-Eleven expanded into Canada then Mexico in 1971 as part of joint ventures. In 1974, it expanded to Japan with Seven-Eleven Japan, which became the parent company in November 2005.
Since then, 7-Eleven has opened stores in Thailand, Taiwan, South Korea, China, Malaysia, Singapore, the Philippines, Australia, Sweden, Norway, Denmark, Hong Kong, Macau, Indonesia and the UAE through area licence and master franchise agreements.
When Vietnam gains its first 7-Eleven next year, it will be the company’s 18th country.
“The 7-Eleven story is amazing and inspiring; we started as a small local ice house and have grown over the years store-by-store, community-by-community and country-by-country into an iconic global brand,” said Joe DePinto, president/CEO.
Last year, 7-Eleven opened one store every 2.5 hours – about 4000 stores. It plans to continued its worldwide expansion.
This story first appeared on our sister site, Inside Retail Asia.
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