Japanese convenience store operator, FamilyMart will mark its debut in Malaysia this year, after signing a master franchise agreement with local food processor QL Resources.
Targeting 300 stores in five years
QL Resources will develop and run FamilyMart convenience stores in Malaysia through its wholly owned subsidiary Maxincome Resources. The company said that the expansion into the convenience store chain business with the established FamilyMart brand will open up greater growth opportunities.
The company aims to open its first FamilyMart in Kuala Lumpur by the end of the year and it’s planning to launch 300 stores in the country over the next five years.
Competing directly with 7-Eleven
FamilyMart, ranked as the second largest convenience store chain in the world, has 17,502 stores in seven countries worldwide as at 29 February 2016.Upon entering Malaysia, it will face direct competition from the world’s largest c-store chain 7-Eleven, which dominates the market with over 1,800 outlets, accounting for 82% of the market share.
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