The first 7-Eleven convenience store in Laos will open in Vientiane in 2022.
30 years master franchise agreement
CP group has invested in feed, poultry and food business in Laos for about a decade. With a young population, Laos offers a good opportunity for retail business which can also support the sale of CP food products. Joe DePinto, CEO and President of 7-Eleven, said, "with its remarkable success in Thailand, I can think of no one better than CP All to bring the 7-Eleven brand to consumers in Laos. This relationship promises to bring additional jobs and economic opportunities throughout the region." The agreement is signed for 30 years and may be renewed for two additional 20-year terms.
20th country for 7-Eleven
The news comes after CP ALL’s announcement in May to introduce the 7-Eleven chain to Cambodia in 2021. It is part of its strategy to expand its business in fast-growing countries in Southeast Asia region. CP ALL runs about 12,000 7-Eleven stores in Thailand. The stores in Laos will have similar services including banking, bill payment and other financial services, digital technology and delivery.