7-11’s Japanese Parent Plans 1,000 New Stores in the United States
Seven & I Holdings are based in Tokyo. The company is the parent company to the 7-Eleven stores in the United States, too.
In 2005, the Japanese company turned the U.S. chain into a wholly-owned subsidiary.
However, they had not put much effort into the U.S. stores….until now.
Seven & I will invest 300 billion yen ($2.4 billion) over the next four years to open up 1,000 new stores and revamp 6,050 existing outlets.
By the end of this year, 175 stores will open and 50 will be shuttered.
New targets are New York State, California and Florida as well as large metro areas….Chicago, DC.
In 2006, the company made
1.2 trillion yen ($10 billion). The company hopes the $2.4 billion investment will lead to a 15% increase in product sales by 2010.
If so…they will be pretty close to getting their money back.
What is your favorite convenience store?
Tags: 2958, 3202POSTED IN: Doing Business in Japan
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