7-Eleven opens 71,100th store
Convenience chain 7-Eleven has hit its lucky number. A new store in Seoul, South Korea marked the chain’s 71,100th store in the world after 90 years in business.
"7-Eleven's iconic orange, green and red stripes are easily recognized in 17 countries around the world," said 7-Eleven President and CEO Joe DePinto. "The company got its start because an entrepreneurial ice dock employee saw his customers had a need and came up with a creative way to serve them. A lot has changed in how, when and where 7-Eleven does business. But one thing that hasn't changed is our commitment to put customers at the forefront of all we do."
The company pioneered convenience retailing in 1927 when “Uncle Johnny” Jefferson Green, who worked for Southland Ice (now 7-Eleven), decided to start selling bread, milk and eggs from an ice dock after local grocery stores closed. In 1946, the store hours (7 a.m. to 11 p.m.) inspired a name change. 7-Eleven stores starting staying open 24 hours in 1971.
According to the company, a 7-Eleven store opens every 3.5 items, stocking the company’s exclusive brand items and exclusives meant to appeal to local tastes. Earlier this year, Store Brands got a peek the retailer's efforts to create distinct private brands for its food and nonfoods offerings, which included the launch of the 24/7 life brand.