Philippine Seven Corp., operator of 7-Eleven stores in the Philippines, announced plans to open 180 more stores within a year.
According to a report from The Manila Standard Today, the additional stores would bring the nation’s 7-Eleven store count to 900 total. Philippine Seven accounts for 50% of the country’s c-store market.
The company also renewed its partnership with Chevron Philippines Inc. Friday, which brings 7-Eleven to Caltex stations. This partnership, which formed in 2009, brought about 25 7-Eleven stores to the Philippines at Caltex stations.
The company plans to spend more than P1 billion in 2012 to expand and refurbish its network of c-stores. Currently, five of the nation’s stores feature the new format.
“[The upgrade] will put more emphasis on our foodservice category, not on the packaged foods or the general merchandise because we see this category as our point of differentiation among our competitors,” said Lawrence De Leon, Philippine Seven finance division manager said to BusinessWorld.
Philippine Seven operates 714 stores, most of which are franchisees.