President Chain Store Corporation has announced that the company has formally received the franchise rights of 7-Eleven convenience stores in Shanghai and the first store in the city will be opened before the end of 2008.

According to a representative from President Chain Store, the company began the negotiation about the franchise rights of 7-Eleven in mainland China ten years ago. It is definitely good news for the company to finally get the authorization.

7-Eleven has already entered the markets of big cities such as Beijing, Guangzhou and Shenzhen for a long time, but President Chain Store did not participate in the operations there. The franchise rights of the brand in Beijing belongs to the joint venture of Ito Yokado and the franchise rights in Guangzhou and Shenzhen belongs to Hong Kong Dairy Farm Group.

President Chain Store Corporation is a subsidiary of Uni-President, a Taiwan food giant. It mainly focuses on the convenient store industry and manages about 4,800 7-Eleven convenience stores in Taiwan. In addition, it owns the management rights of many food and beverage brands, including Starbucks, Cold Stone and Semeur de Pain.