Philseven to double store chain

MANILA, Philippines -  Philippine Seven Corp. (Philseven), the local licensee of the 7-Eleven convenience store chain, wants to double its branch network to 2,000 stores in the next three to four years.

Company officials said, Philseven is banking on the robust retail market and franchising to maintain its position as the country’s largest convenience store chain.

“We have a trend of doubling the store network every three to four years, which, if favorable things continue, is something we hope to maintain,” Philseven president and CEO Victor Paterno said.

“We will make sure we will dominate each town and province in the Philippines,” said Francis Medina, division manager for business development of Philseven.

For this year, 7-Eleven will put up more than 300 new stores, allowing it to end 2014 with around 1,300 branches, Paterno said, adding that the continued economic growth will ensure that the company’s rapid expansion program will be pursued.

Philseven opened yesterday its 1,000th convenience store located at the IT Building of the Greenfield District in Mandaluyong City.

In the past several years, the company doubled its footprint from 500 stores in 2010. For instance, it ventured into Cebu for the first time in 2012 and in Bacolod in 2013.

The opportunities for growth and expansion is present in the Philippines, said Chris Tanco, executive-vice president and head of 7-Eleven International, which oversees 30,000 out of the total 52,000 branches worldwide.

“This is a very robust market from what I’ve seen. Franchising is certainly alive and well in the Philippines,” Tanco said, adding that there is an openness and affinity for western brands.

So far, close to 70 percent of 7-Eleven stores nationwide are franchised.

“One of Philseven’s plans is to continue expanding in the Visayas by opening more stores in Cebu, Bacolod and Iloilo,” the listed firm said.