By Inside Retail Asia
Japanese convenience store chain Lawson plans to raise its store count in overseas markets and accelerate growth in Southeast Asia over the coming years.
According to Nikkei, the chain is targeting 14,000 overseas stores over the next six years. Its international network currently includes 7400 locations in China, Thailand, the Philippines, Indonesia and the US state of Hawaii.
The retailer also plans to boost growth in Southeast Asia by entering franchise agreements with local retail partners and opening directly managed stores. However, it did not reveal the new markets under evaluation.
In addition, the company will look into the possibility of expanding to additional countries.
Founded in 1975, Lawson has about 14,600 domestic stores. As of the end of last year, Japan had approximately 55,736 convenience stores, according to local statistics.
While the top three convenience chains – Lawson, 7-Eleven and FamilyMart – are projected to achieve a net increase of up to about 400 stores this fiscal year, the industry faces fierce competition from drugstores and online retailers, Nikkei said.
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