USA – Texas-based multinational convenience retailer, 7-Eleven has signed a master franchise agreement with CP ALL (Cambodia), an indirect subsidiary of CP ALL Public Company Limited, to develop and operate 7-Eleven stores in Cambodia.
The companies plan to open the first Cambodian 7-Eleven-branded convenience store in the Capital of Cambodia, Phnom Penh by 2021.
The master franchisee plans to construct stores, modernizing the small-retail environment and bringing greater convenience to shoppers, backed by the world’s largest convenience retailing brand.
The new agreement in Cambodia builds on decades of partnership between 7-Eleven and CP ALL dating back to 1988, when CP ALL was established to operate 7-Eleven stores in Thailand under an exclusive licensing agreement with 7-Eleven.
The first Thailand 7-Eleven store opened in Bangkok in 1989, and CP ALL now operates close to 12,000 stores in the country, second only to Japan in the world.
The retailer said that the store in Cambodia will bring internationally popular products, beverages, snacks and immediately consumable fresh foods with recipes developed for regional tastes as part of the convenience offerings.
“In the past several years Cambodia’s economy has experienced dramatic growth, and in 2019 was projected to become the fastest-growing economy in the Association of Southeast Asian Nations (ASEAN),” said 7-Eleven, Inc. President and CEO Joe DePinto.
“CP ALL has done a tremendous job growing the 7-Eleven brand in Thailand, and I can think of no one better to bring our brand of convenience to consumers in Cambodia.
“This relationship also promises to bring additional jobs and economic opportunities throughout Cambodia.”
According to the retailer, CP ALL has successfully operated its stores in Thailand for over 30 years, and the brand has become part of popular Thai culture.
In Thailand, its stores provide a blend of beverages, snacks, ready-to-eat meals as well as digital technology and delivery services – all which the company plans to replicate in Cambodia.
Its entry in the Southeast Asian nation will mark the 19th country where 7-Eleven stores operate and joins a list of Asia countries in which the company has forayed to including Japan, Thailand, South Korea, Taiwan, China, the Philippines, India, Singapore, Malaysia and Viet Nam.
7-Eleven prides as the world’s largest chain in the convenience-retailing industry with more than 70,000 stores in 18 countries.