7-Eleven to Open Dozens of Stores in Israel

TheMarker
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7/Eleven store.
7/Eleven store.Credit: Bloomberg
TheMarker

7-Eleven, the international chain of convenience stores operating 24 hours a day, will open dozens of stores in Israel in the next three years, however it is still unclear if the stores will be open on Sabbath.

The Israeli Electra Consumer Products company announced on Tuesday that it had signed an agreement with the 7-Eleven international chain of convenience stores that will lead to the opening of dozens of stores across the country.

While It is still remains clear whether the stores, operating 24 hours a day, will be open on the Jewish Sabbath, Electra said they will “operate according to the municipal regulations in every location.”

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The first store of the franchise will be established in Tel Aviv in 2022. 7-Eleven will sell fast food and exclusive products in the Israeli market.

7-Eleven was founded 93 years ago in the United States by Joe Thompson as a 24-hour a day convenience stores open all week. It was publicly traded in the past, but was taken private again decades ago. The headquarters of the group is in Texas, and operates through franchisees in 17 countries, mostly in East Asia and the Nordic countries. In 2019, 7-Eleven entered Vietnam and India for the first time.

The chain has 71,000 stores around the world, and $61 billion in annual revenues – with an annual profit estimated at $2 billion. The stores offer fast food such as sandwiches, pizza, salads, soft drinks and coffee, along with many other convenience items.

The chain launched a delivery service last year in 1,300 cities in the United States, and customers can also order directly to parks, sports fields and concerts using its technology. Customers can also order directly from the stores using its 7Voice app – and then pick up the order at the nearest store.

The stores also offer a number of services, such as accepting payments for government bodies, withdrawing cash and renting lockers. The chain’s strategy is based on continued expansion and the opening of more stores in new locations – along with entering new markets and developing innovative products in the fintech and delivery fields.

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