The world's leading convenience store chain 7-Eleven has announced that it will open two outlets in Chengdu on March 17, 2011, for its entry into this new market in China.
With a total investment of USD65 million, 7-Eleven's subsidiary in Chengdu has been founded with the registered capital of USD30 million. According to its expansion schedule in Chengdu, the convenience store chain will first launch two stores in March; it will open 15 stores during the following three months; it will develop 50 stores within one year; and it will have 350 stores in the marketplace over five years.
By its layout plan, these 350 stores will be mainly located in the five districts of the main city as well as the high-tech region. At present, locations of seven stores have been decided and sites of another 15 stores will be determined soon. During the initial expansion period, 7-Eleven Chengdu will focus on the development in Jinjiang district, Wuhou district, and Qingyang district, and stores will be close to office buildings, business areas, and schools.
The 50 planned stores in 2011 will all be company owned stores and franchised stores are expected to be launched in 2012.