7-Eleven Inc opened its first convenience store in Viet Nam on Thursday, the first among 20 stores it plans to open in HCM City this year. — VNS Photo

7-Eleven Inc opened its first convenience store in Viet Nam on Thursday, the first among 20 stores it plans to open in HCM City this year.

The store is located on the ground floor of District 1’s Saigon Trade Centre.

The store, which will provide fresh food, beverages and high-quality goods, is expected to offer stiff competition to similar stores such as Vinmart+, Shop&Go, Circle K and Ministop.

7-Eleven was established in 1927 in the US state of Texas and was taken over by Japan’s Seven & I Holdings Group in 2015.

Viet Nam is the 19th country where 7-Eleven has located. The company plans to open 100 stores in the next three years and 1,000 within a decade in Viet Nam.

7-Eleven is the world’s largest convenience retailer with roughly 62,000 stores in 19 countries and regions.

Every two hours, a 7-Eleven store opens globally. Last year, the company opened 4,000 stores worldwide.

HCM City has about 1,600 convenience stores under 10 companies, and the number is expected to increase, according to Forbes Viet Nam.

According to a global food and grocery experts (IGD) survey, Viet Nam is expected to be the fastest-growing convenience store market in Asia by 2021. – VNS