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Philippine Seven Corporation, the licensor of world-renowned convenience store chain 7Eleven, is now putting the spotlight on provincial areas of expansion as part of its plans for 2006, spearheading the effort with the opening of two new provincial stores in the cities of Sta. Cruz and Lucena in Laguna.

The move, which was unveiled earlier by Philippine Seven Corporation President Victor Paterno during the company’s annual stockholder’s meeting, reflects a P250-million investment for a total of 50 new stores outlined in the expansion effort.

“Our expansion to the south of Metro Manila signifies the continued growth of our franchise and the growing trust investors place on our convenience store brand 7-Eleven,” stated Paterno.

Already, the opening of three new additional provincial stores is underway for the areas of Cabuyao, Candelaria and Nagsugbu to be complimented with the opening of 13 additional stores within Metro Manila. An additional 26 new store areas are also on the planning stage, 12 of which are in Metro Manila with 14 new provincial sites for 7-Eleven.

“Aside from our expansion budget, we are also planning to spend an additional P100 million or P2 million each for the renovation of 50 of our existing stores,” stated Paterno.

Among the other areas that Philippine Seven Corp. is eyeing for expansion are Batangas, Laguna, Manila, Makati and Quezon City.

Paterno explained that the expansion effort of the company was triggered as a response to the phenomenal rise in applications for its franchising license since it was offered it to public back in 1998.

Currently 7-Eleven has a total of 281 stores, 169 of which are company-owned while 112 are franchise stores.

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