Japan’s biggest convenience store chain 7-Eleven confirmed on Wednesday that it will open its first outlet in Ho Chi Minh City next Thursday.
Its first store in Vietnam will be located in the Saigon Trade Center Tower in District 1 via a franchise agreement between the Japan-based Seven & i Holdings and Seven System Vietnam Joint Stock Company, a new firm founded by a Vietnamese restaurant chain.
Like many other convenience stores operating in Vietnam, the 7-Elevent outlet will offer essential products with a focus on young and average-income customers.
To make it competitive, the store in HCMC will offer a menu of up to 100 dishes suitable for office workers who usually go out for lunch.
7-Eleven currently has more than 62,000 stores worldwide. Vietnam is its 19th market.
Vietnam’s trade ministry has projected the convenience store market could be worth $179 billion by 2020, a jump of 52 percent from last year, with foreign operators already holding 70 percent of the market share.
The sector has a lot room to grow in Vietnam, given that half of the country's population of nearly 92 million is young and the annual average income, which was around $2,200 last year, is expected to increase rapidly, the ministry said.