7-Eleven convenience store chain is set to enter 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. despite economic disruptions due to Covid-19 pandemic.
The first chain store in Cambodia is expected to open in Phnom Penh and the organization plans to modernize it under small scale environment yet bring greater convenience to shoppers.
Since opening first Thai store in 1989, the chain had been expanded 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, 7-Eleven is planning 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, released that more than 10 Thai convenience store had been operating in Cambodia and a few franchise brands has gained popularity among young consumers.
7-11 will compete with existing convenience stores in Cambodia such as Smile Mini Marts operated by local and US-Canadian franchise, Circle K.