Plans Announced for First 7-Eleven in Vietnam

Japanese retail giant Seven & i Holdings Co said today (July 30) it has decided to open 7-Eleven convenience stores in Vietnam, where convenience store users are expected to increase in line with rapid economic growth.

Even though most overseas 7-Eleven stores are managed by the U.S. subsidiary, Seven & i Holdings seeks to expand in Vietnam by applying a business model cultivated at home.

Seven & i Holdings will also help develop a distribution network that enables shipping of products at optimal temperatures.

In Vietnam, which has the population of 92.5 million, convenience stores are mostly present in its southern hub with about 400, Nikkei Asian Review reported.

The number of the establishments is set to reach 100 after three years and 1,000 ten years later. Ltd., a new firm founded by a Vietnamese restaurant chain, to develop and operate 7-Eleven stores in the Southeast Asian country, the Japanese company said in a press release issued from Dallas, where it is headquartered.

The 7-Eleven press release does not elaborate on the exact opening time of its first Vietnam store.

A similar situation happened with Ministop, which came to Vietnam in partnership with Vietnam’s G7 Group in 2011 and planned to open 500 stores in five years.