Seven & i Holdings is looking to make Europe a key growth market for its 7-Eleven convenience store business as it revises its global expansion strategy amid intense competition and challenges in newer markets.
President and CEO Steve Dacus said the company sees Europe as a potential fourth pillar of growth alongside Japan, North America, and Asia. “we need to focus on Europe, and we believe that could be our fourth pillar of growth,” he said on Friday.
The strategy review comes after 7-Eleven exited India, where all 31 stores were closed by the end of September. The brand entered the country in 2021 through a licensing agreement with a major Indian conglomerate. However, the outlets struggled to attract customers amid strong competition from local retailers.
Dacus and Mauricio Leyva, who became CEO of the US subsidiary 7-Eleven Inc. (SEI) in August, discussed the company’s plans in a joint interview with a business newspaper and other media outlets.
7-Eleven currently has a limited presence in Europe, with around 360 stores concentrated in Nordic countries such as Norway and Finland. Dacus said, “In Europe, as you know, we only have a few hundred stores in Scandinavia, and they are very successful,” adding, “That makes me believe that we can succeed in other areas in Europe.”
As of the end of August, the company operated around 87,000 stores across 19 countries and territories. Under its medium-term strategy through fiscal 2030, Seven & i plans to invest approximately 3.2 trillion yen ($20.2 billion) in global growth and increase its store network by 14% to around 100,000 locations.
Expanding its Asian business remains another priority. Dacus said, “In Asia, there are still lots of opportunities for us.” The company is also considering a possible return to Indonesia, a market supported by economic growth.
Seven & i had explored acquiring a stake in Polish convenience store operator Zabka Group to enter Eastern Europe. However, negotiations ended in July after both sides failed to agree on terms. Dacus said, “At the end of the day,” the company was unable to reach an agreement that would “add appropriate value to our shareholders.”
In North America, which contributes more than half of Seven & i’s operating profit from overseas operations, the company is restructuring its business and closing unprofitable stores. Under Leyva’s leadership, SEI plans to pursue growth through disciplined investment and expand its private-label product range, with a target of roughly doubling private-label sales by fiscal 2030 compared with fiscal 2025.
Leyva also highlighted opportunities in fresh food, including pizza and sandwiches, noting that “32% [or] almost one third of the customers are actually new to the category for us.”
The company plans to open 1,300 new stores and remodel more than 7,000 locations across North America by 2030.
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