Uni-President Enterprises, one of the largest conglomerates in Taiwan, has set a target to significantly boost its sales in Southeast Asia within the next few years.
Double or triple the sales in the region
Uni-President currently operates the 7-Eleven convenience store chain in Taiwan, the Philippines, and China. The company recognises the exciting opportunities backed by the large population in Southeast Asia countries and the consistent economic growth in the region.
More than half of the company's revenue comes from Taiwan, around 30% from China, while Southeast Asia only accounts for 13%. Alex Lo Chih-Hsien, executive chairman of Uni-President, said he expected to increase the contribution of the Southeast Asian market to at least 30% of the company's total revenue in a few years.
Focus on Vietnam, Indonesia and Thailand
Uni-President is currently doing well in the Philippines, where it operates 1,655 7-Eleven stores. The company would also focus on countries such as Vietnam, Indonesia and Thailand, where there were huge young populations with rising spending power.
Find out the latest news on Asia retailing
Please follow us on twitter @IGDAsia