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7-Eleven to enter Cambodian market next year
The internationally known “7-Eleven” convenience store brand has been marked to enter the Cambodian market in 2021, and will be operated by CP All (Cambodia) – a subsidiary of the Thai conglomerate Charoen Pokphand Group.
CP All entered into a master franchise agreement with the Japanese-American owned 7-Eleven Inc. this week.
CP All already operates all 7-Eleven stores in Thailand, since opening its first store in 1989 it has expanded the chain’s reach in Thailand to become the world’s third-largest 7-Eleven network after Japan and the US. CP ALL now operates close to 12,000 stores in the country.
Charoen Pokphand (CP) Group chief executive Suphachai Chearavanont said that with a ubiquitous domestic presence, the 7-Eleven convenience store chain is looking to expand its footprint in Asia-Pacific and carry out its regional growth vision.
“Our investment should not be limited to Thailand, but investment destinations need to have market potential in Asia-Pacific,” he said.
Jiranun Wongmongkol, president of RCG Retail Cambodia, told Khmer Times previously that more than ten Thai convenience store franchises are already operating in the Kingdom as some franchise brands have gained popularity among young consumers.
“Some Thai food, beverage and apparel franchises are successful in Cambodia because those brands are popular among young Cambodians,” she said.
Source: https://www.khmertimeskh.com/50721390/7-eleven-to-enter-cambodian-market-next-year/