7 Eleven

Topics: Convenience store, 7-Eleven, Southeast Asia Pages: 2 (519 words) Published: May 28, 2013
Company’s Background

7-Eleven is an international company operating as a convenience store in eighteen countries which includes Canada, United States, Mexico and Puerto Rico in the Americas; Norway, Sweden and Denmark in Europe; Taiwan (Republic of China), People’s Republic of China (China), Hong Kong, South Korea and Japan in East Asia; the Philippines, Thailand, Malaysia and Singapore in Southeast Asia; and also Turkey and Australia. 7-Eleven, primarily operating as a franchise, is the world's largest operator, franchisor and licensor of convenience stores, with more than 48,000 outlets. His headquartered is in Tokyo, Japan.

In 1931, 7 Eleven was called "Tot'em Stores". In 1946, the name of the stores was changed to 7-Eleven to reflect their hours of operation 7am to 11pm. In the 1980s, the company encountered financial difficulty, selling off its ice division, and was rescued from bankruptcy by Ito-Yokado, its largest franchise. In 1987, John Philp Thompson, the CEO of 7-Eleven, completed a $5.2 billion management buyout of the company his father had founded.The buyout suffered from the 1987 stock market crash and after failing initially to raise high yield debt financing, the company was required to offer a portion of the company's stock as an inducement to invest in the company's bonds. The Japanese company gained a controlling share of 7-Eleven in 1991,during the of the Japanese asset buble formed Seven & I Holdings Co.and 7-Eleven became its subsidiary in 2005.

Vision: be the best retailer of convenience

7-Eleven’s vision is to be recognized as a leader in providing time-conscious consumers with a full-range of products and services that meet their ever-changing daily needs. This means employees has a chance to brighten someone’s day and make life a little easier, whether it is service with a smile in the store or ensuring they have the freshest food available, day in and day out. .

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