PHNOM PENH: The 7-Eleven convenience store chain is set to enter the Cambodian market next year.
It will be operated by CP All (Cambodia) — a subsidiary of the Thai conglomerate Charoen Pokphand Group, which currently operates all 7-Eleven stores in Thailand.
CP All has signed a master franchise agreement with the Japanese-American owned 7-Eleven Inc. this week despite economic disruptions due to the Covid-19 pandemic.
The first Cambodian 7-Eleven chain store is expected to open in Phnom Penh and CP All says it plans to modernise the small format environment and bring greater convenience to shoppers.
Since opening its Thai first store in 1989, it has expanded the chain's reach in Thailand to become the world's third-largest 7-Eleven network after Japan and the US.
CP ALL now operates close to 12,000 stores in Thailand.
Charoen Pokphand (CP) Group chief executive Suphachai Chearavanont said that with a ubiquitous domestic presence, the 7-Eleven convenience store chain is looking to expand its footprint in Asia-Pacific and carry out its regional growth vision.
"Our investment should not be limited to Thailand, but investment destinations need to have market potential in Asia-Pacific," he said.
Jiranun Wongmongkol, president of RCG Retail Cambodia, told Khmer Times previously that more than 10 Thai convenience store franchises are already operating inCambodia as some franchise brands have gained popularity among young consumers.
"Some Thai food, beverage and apparel franchises are successful in Cambodia because those brands are popular among young Cambodians," she said.
In Cambodia, 7-Eleven stores will compete with existing convenience stores such as local Smile Mini Marts and US-Canadian franchise, Circle K.
Other players are Kiwimart, Aeon MaxValu Express and Lucky Express.
According to investvine.com, Cambodia will be the 19th country where 7-Eleven stores operate.