FamilyMart, a Japanese convenience store chain, is planning to leave Thailand and rebrand all of its locations by the end of the year.
As the master franchise holder in the area at the time, Central Retail Corporation acquired FamilyMart’s portion of their joint venture three years ago, citing it as a step toward network development. In Thailand at the time, there were 1000 FamilyMart outlets. There are currently apparently only 200 left, and before the end of the year, they will be rebranded as Tops Daily by Central.
In 1993, FamilyMart established its first location in Thailand. In 2012, it established a joint venture with Central Retail.
Nikkei Asia reports that Central Group canceled the partnership last week after the franchise agreement between the two businesses expired in May.
While this is happening, FamilyMart informed the Japanese news site that it has no intention of altering its comprehensive international business expansion plan, under which it is expanding in several regions, including Malaysia.
According to Statista, 7-Eleven, owned by the Charoen Pokphand Group, controls nearly 80% of the convenience store industry in Thailand. As of last September, 7-Eleven had more than 13,000 outlets and controlled more than 13,000 of those.
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