On of the largest retail enterprises in Japan, Seven & i Holdings Company, has announced that it will introduce its Western-style restaurant brand AllDay's into China, with its first outlet due to open in Shimao Tower in Beijing on July 21, 2009.
Seven & i has set up a joint venture with Beijing Wangfujing Department Store (Group) and China National Sugar and Alcohol Group Corp to be in charge of its catering business in China. With a registered capital of CNY100 million, the joint venture is 75% owned by Seven & i and the two Chinese companies own a 15% and 10% stake, respectively.
Located in the CBD business area of Beijing, the new AllDay's restaurant is a 24-hour family restaurant that provides various western-style dishes at low prices as well as free Wi-Fi services.
Seven & i Holdings, the owner of the convenience store chain 7-Eleven, operates about 1,000 western-style restaurants in Japan. The company said it plans to open five more restaurants around CBD by the end of this year and, with CBD as its center, it will increase the number of its restaurant to 30 in the next three years.