7-Eleven sets P6 billion capex, eyes 500 stores in 2025

MANILA, Philippines — After breaching its 4,000-store target, Philippine Seven Corp. (PSC) is looking to open another 500 7-Eleven branches next year, allocating up to P6 billion in capital expenditure budget.

PSC, the exclusive licensee of 7-Eleven in the Philippines, opened its 4,000th store in Newport District, Pasay City, on Tuesday, in hopes of ending the year with a network of 4,100 outlets.

PSC head of finance Lawrence de Leon said the company is spending around “P5 billion to P6 billion” to bolster its aggressive expansion plans for 2025.

Of the planned store launches next year, around 200 branches will be in the Visayas and Mindanao, 150 in Metro Manila and the remainder will be in other parts of Luzon.

“Business has been good. There is a lot of demand for convenience and innovation not only in Metro Manila but also in the provinces, especially in our residential clusters. We are aided by the favorable economic environment,” De Leon said.

At present, 7-Eleven stores in the country are 52 percent corporate-owned and 48 percent franchise-operated.

PSC initially planned for a 50-50 mix but later adjusted its target to a 60-percent franchise and 40-percent company-owned model for the medium term.

“Especially if the stores are far away, it’s more ideal to have those (stores) franchised because they can serve the customers better and they are more familiar with local regulations. That’s why it’s more favorable to have it franchised if it’s far from us,” De Leon explained.

By 2026, the country’s largest convenience store network wants to hit 5,000 branches.

PSC, which opened its first 7-Eleven store at the corner of EDSA and Kamias Road in Metro Manila in 1984, has set aside up to P4.5 billion this year to unveil 450 new stores and remodel older branches.

“Celebrating 40 years in the Philippines and opening our 4000th store is a significant achievement for us. It underscores our commitment to delivering convenience and exceptional service,” PSC president and CEO Jose Victor Paterno said.