7-Eleven targets 80 new stores by end 2018, shrugs off end of Shell partnership
From early next year, all 56 7-Eleven stores at Shell petrol stations will cease operations, though the convenience store chain aims to open 30 new store by the end of this year, and another 50 next year. TODAY file photo
SINGAPORE – 7-Eleven will be rolling out 80 new stores by the end of 2018 as the convenience store giants embark on an aggressive expansion plan following the end to an 11-year partnership with Shell.
From early next year, all 56 7-Eleven stores at Shell petrol stations will cease operations after the companies ended the partnership when the agreement – inked in 2006 – expired last month.
But that will have little impact on 7-Eleven, after it revealed that it aims to open 30 new stores by the end of this year, and another 50 next year.
It was reported earlier this week that Shell has ended its partnership with 7-Eleven as part of a move to rebrand its petrol stations to be in line with its “long-term business strategy”.
Shell’s rebranding exercise, which began in June at its Tampines Avenue 2 petrol station, will see a “national revamp” which will take place in phases with the introduction of “Shell Select” and “Deli by Shell”.
When contacted, a spokesperson from Shell declined to comment on TODAY’s queries about the partnership.
A spokesperson from Dairy Farm Singapore, which manages 7-Eleven’s 422 stores islandwide, told TODAY that the impact of Shell’s exit “will not be material”.
She added that “the transition is expected to be completed by early 2018”.
“We have had a good partnership with Shell over the past 10 years with 7-Eleven contributing to the growth of Shell’s business with positive outcome and increase in sales, profitability and customer count,” said the spokesperson.
“We respect their business decision not to renew the alliance arrangement in view of their plans to align their operations here with the long-term global business strategy (to manage their own retail operations) and wish them well in their endeavours.”
