Like McDonalds, 7-Eleven has been eyeing the Vietnam market for years. Now that Circle K, Family Mart and Shop & Go have softened the market for convenience stores, the ubiquitous brand is set to open its first Vietnam location within the next 3 months.
Though no official announcement has been made, Vietnam Net’s sources have confirmed that the first shop will be opened in District 1 in the next 90 days.
According to sources, 40% of products on offer will be Vietnamese made and the remainder imports.
Initially, 7-Eleven will limit franchising opportunities with the Thai parent company, CP, running all shops for the first 2 – 3 years.
The move comes in the wake of large expansion plans for convenience store chains currently operating in the Vietnam market. Shop & Go opened its 100th Vietnam shop last month and Family Mart plans to invest US$20 – 25 million into 300 shops over the next 5 years.
Deputy General Director of CP Vietnam, Chamnan Wangakkarangkul, said that the company plans to open 10,000 shops in Vietnam.
With those numbers, Saigon may become like Bangkok which seems to have a 7-Eleven every few blocks.
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