BANGKOK, NNA - The number of Seven-Eleven convenience stores in Thailand has topped 10,000, achieving the milestone at a faster pace than in Japan, their local operator says.
CP All Public Co., under Thai conglomerate Charoen Pokphand Group Co., says the number of Seven-Eleven stores totaled 10,007 by the end of June.
It took the Thai operator 28 years to reach the 10,000 mark since opening its first Seven-Eleven store in 1989.
CP All plans to add about 700 outlets this year and hopes to reach a total of 13,000 within the next four years.
The company says it is poised to allocate 60 percent of its planned capital expenditure of 9.5 billion to 10 billion baht ($285 million to $300 million) this year for store expansion and renovation.
Seven-Eleven leads the pack of Japanese convenience store brands in Thailand, where FamilyMart stores totaled 1,136 as of the end of July and Lawson stores numbered 85 as of the end of February.
A researcher at Kasikorn Research Center Co., a think tank under Kasikornbank Public Co., told NNA that CP All has endeavored to meet local preferences as urbanization has spread in the Southeast Asian country.
The researcher also pointed out that Charoen Pokphand Foods Public Co., the conglomerate's food business unit, has long supported the convenience store operator through stable supply of food products.
Seven-Eleven Japan Co. has aggressively expanded store networks across Southeast Asia after obtaining the U.S.-originating brand and later giving local businesses abroad the right to operate stores.
The number of Seven-Eleven outlets in the region, including Malaysia, the Philippines, Singapore and Vietnam, had increased to a total of 14,699 at the end of June, accounting for nearly one-fourth of the global total, compared with 19,588 stores in Japan. (NNA/Kyodo)