History Of The Big 7-Eleven In The Philippines

Herndon, VA (PressExposure) June 25, 2009 -- There has been many Philippine groceries [http://www.myayala.com/shop/categs.asp?k=Grocery-philippines&categ_id=667] and convenient stores around the country. But only one is considered as the best when it comes to the convenience it provides to Filipinos across the country. This is 7-Eleven. 7-Eleven is a convenient store typically found on any corner of the Philippines, usually on every corner of the street. Though its not a Philippine grocery [http://www.myayala.com/shop/categs.asp?k=Grocery-philippines&categ_id=667] per-se, but many people do come to a 7-Eleven store to buy important stuff such as canned goods and snacks. But aside from the Philippines, 7-Eleven is also popular on other countries. But what is 7-Eleven? Where did it come from?

History of 7-Eleven 7-Eleven is a worldwide chain of convenience stores. It is, since March 2007, the largest chain store in any category, beating McDonald's by 1,000 stores. Its stores are located in eighteen countries, with its largest markets being Japan, the United States, Canada, Taiwan, and Thailand. The company has its origins in 1927 in Dallas, Texas, USA, when an employee of Southland Ice Company, Joe C. Thompson, started selling milk, eggs and bread from an ice dock. The original location was an improvised storefront at Southland Ice Company, an ice-manufacturing plant owned by John Jefferson Green.

Although small grocery stores and general merchandisers were present in the immediate area, the manager of the ice plant, Joe C. Thompson, discovered that selling "convenience items" such as bread and milk was popular due to the ice's natural ability to preserve the items. This significantly cut back on people's need to travel long distances to the grocery stores for basic items. Joe C. Thompson eventually bought the Southland Ice Company and turned it into the Southland Corporation which oversaw several locations which opened up in the Dallas area.

In 1962, 7-Eleven first experimented with a 24-hour schedule in Austin, Texas. In 1963, 24-hour stores were established in Las Vegas, Fort Worth, and Dallas. But in the 1980s, the company ran into financial difficulties and was rescued from bankruptcy by Ito-Yokado, its largest franchisee. The Japanese company gained a controlling share of 7-Eleven in 1991, during the Japanese asset bubble of the early 1990s. Ito-Yokado formed Seven & I Holdings Co. and 7-Eleven became its subsidiary in 2005. In 2007, Seven & I Holdings announced they would be greatly expanding their American operations, with an additional 1,000 7-Eleven stores in the U.S.

7-Eleven Philippines In the Philippines, 7-Eleven Philippine grocery [http://www.myayala.com/shop/categs.asp?k=Grocery-philippines&categ_id=667] is run by the Philippine Seven Corporation (PSC). Its first store opened in 1984. In 2000, President Chain Store Corporation (PCSC) of Taiwan, also a licensee of 7-Eleven, bought the majority shares of PSC and thus formed a strategic alliance for the convenience store industry within the area.

About myayala

Deirdre Gonzales is a business entrepreneur from Cebu City Philippines. She's now based in Florida and writes in her spare time for various websites including [http://Myayala.com]

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Press Release Submitted On: June 25, 2009 at 2:09 am
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