Vietnam's 1st Seven-Eleven Store to Open on June 15

Hanoi, June 7 (Jiji Press)--Vietnam's first Seven-Eleven convenience store will open in Ho Chi Minh City, the largest city in the country, on June 15, Seven System Vietnam JSC said Wednesday. The entry of Seven-Eleven, Japan's leading convenience store chain operator, is expected to intensify industry competition in Vietnam, where FamilyMart Co., a unit of FamilyMart Uny Holdings Co. <8028>, and Ministop Co. <9946> already operate outlets. Japanese retailers have shown interest in Vietnam, which a population of over 90 million with an average age of less than 30. Personal consumption is expected to increase in the country, reflecting income growth in line with economic expansion and changing lifestyles. In 2015, Japanese retail giant Seven & i Holdings Co. <3382>, the parent of Seven-Eleven Japan Co., announced plans to launch open Seven-Eleven stores in Vietnam. With the aim of opening 100 local outlets in three years, the group plans to dispatch employees from Japan to teach know-how. According to Seven System Vietnam, which operates Seven-Eleven outlets in the Southeast Asian country, the first outlet will be housed in a building in central Ho Chi Minh City, close to areas where many Japanese residents live. END