7-Eleven, Inc. Signs Master Franchise Agreement with Seven Emirates Investment LLC to Operate 7-Eleven® Stores in UAE Retailer Anticipates First Store Will Open in Dubai Next Summer
DALLAS, June 16, 2014 /PRNewswire/ -- 7-Eleven, Inc. (SEI), the world's largest convenience retailer with 53,000 stores worldwide, has signed a master franchise Agreement with Seven Emirates Investment LLC to develop and operate 7-Eleven® stores in the United Arab Emirates (UAE). The expansion marks the company's first entry into the Middle East region.
His Highness Sheikh Zayed Bin Sultan Bin Khalifa Al Nahyan will serve as president of Seven Emirates Investment LLC, a newly formed company. He is the grandson of current UAE President, His Highness Sheikh Khalifa Bin Zayed Bin Sultan Al Nahyan.
The first 7-Eleven-branded convenience store in the UAE is expected to open in Dubai next summer. The new master franchisee plans to construct 7-Eleven stores as well as convert existing locations to the 7-Eleven brand. 7-Eleven's entry into the country provides a solution to the UAE government's strategic initiative to modernize the small-retail environment and bring greater convenience to shoppers.
Internationally popular products like Slurpee® frozen carbonated beverages and Big Gulp® soft drinks, as well as immediately consumable fresh foods, with recipes developed for regional tastes, will be part of the convenience offerings.
7-Eleven and its parent company, Seven-Eleven Japan, will provide start-up support for the newest master franchisee, assist Seven Emirates Investment in implementing their successful strategies of market concentration, team merchandising and item-by-item management, plus establish a field office in Dubai.
"The UAE is a growing and dynamic part of the world and is attracting investment from around the globe," said 7-Eleven, Inc. President and CEO Joe DePinto. "It is the business gateway to the Middle East and offers an excellent environment for 7-Eleven's first retail venture in the region."
The UAE will be the 17th country or region where 7-Eleven® stores exist. Besides the United States, other countries include Canada, Mexico, Japan, Thailand, South Korea, Taiwan, China (including Hong Kong), The Philippines, Australia, Singapore, Malaysia, Indonesia, Norway, Sweden and Denmark.
About 7-Eleven, Inc.
7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Based in Dallas, Texas, 7-Eleven operates, franchises or licenses more than 10,300 7-Eleven® stores in North America. Globally, there are some 53,300 7-Eleven stores in 16 countries. During 2013, 7-Eleven stores generated total worldwide sales close to $84.5 billion. 7-Eleven has been honored by a number of companies and organizations recently. Accolades include: #2 on Franchise Times Top 200 Franchise Companies for 2013; #3 spot on Entrepreneur magazine's Franchise 500 list for 2012, and #3 in Forbes magazine's Top 20 Franchises to Start. 7-Eleven is No. 3 on Fast Company magazine's 2013 list of the "World's Top 10 Most Innovative Companies in Retail" and among the Top Veteran-Friendly Companies for 2013 by U.S. Veterans Magazine and on GI Jobs magazine's Top 100 Military Friendly Employers for 2014. Hispanic Magazine named 7-Eleven among its Hispanic Corporate Top 100 Companies that provide the most opportunities to Hispanics. 7-Eleven is franchising its stores in the U.S. and expanding through organic growth, acquisitions and its Business Conversion Program. Find out more online at www.7-Eleven.com.
SOURCE 7-Eleven, Inc.