Business Services Industry
Thai Firm C.P. Seven Eleven Is Out of Race for 7-Eleven Franchises in China.
Knight Ridder/Tribune Business News, January, 2004
Bangkok Post, Thailand Knight Ridder/Tribune Business News
Jan. 6--C.P. Seven Eleven Plc, part of the Charoen Pokphand conglomerate, is out of the race to open 7-Eleven convenience stores in China as Seven-Eleven Inc, the franchiser, has asked it to step aside.
US-based 7-Eleven wants its Japanese franchisee, Seven-Eleven Japan, to spearhead the creation of a store network in China instead.
The race among 7-Eleven franchisees to enter China ended yesterday as Seven-Eleven Japan announced its plans for a joint venture with local partners in selected provinces and cities, AFP reported.
The joint venture, named Seven-Eleven (Beijing) Co Ltd, was founded last Friday.
It will soon open 7-Eleven stores in Beijing, Tianjin and...
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