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Business

Seven-Eleven gets foot in door of Vietnam's booming market

Insiders say influential local figure helped chain partner up fast

HANOI -- Seven-Eleven has opened its first convenience store in Vietnam, marking the beginning of its effort to catch and surpass rivals that have already carved out some turf.

In just one year, local rival Vingroup has opened around 1,000 Vinmart+ convenience stores.

The Vietnamese market for such stores looks destined to grow, given the country's brisk economy and progress on deregulation. Seven-Eleven is already the world's largest convenience store operator, with some 62,000 outlets worldwide, and it had been keen to break into the promising Southeast Asian country for a while.

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