7-eleven convenience stores

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7-eleven convenience stores

Masatoshi Ito, the Japanese billionaire who turned 7-Eleven convenience stores into a global empire, has died aged 98, closing the chapter on one of Asia's most storied retail entrepreneurs. Ito transformed everyday retail in Japan, turning a US-born company into an international brand, particularly in Asia where 7-Eleven shops are rarely more than a few minutes' walk away in many cities. Chief competitors include the Japanese-owned Lawson and Family Mart convenience store franchises, but neither has reached the sheer size or global reach of the 7-Eleven empire. Ito's business acumen was influenced by his friendship with the late management consultant Peter Drucker, who described Ito as "one of the world's outstanding entrepreneurs and business builders. In a interview with The Journal of Japanese Trade and Industry, Ito said he traveled to the US in and "experienced a kind of cultural shock at how rich everybody seemed" at a time when Japan was recovering from the aftermath of World War II. The convenience store chain traces its origin to , when several icehouse companies merged to form the Southland Ice Company in Dallas, Texas. To reflect their extended hours of operation, the stores were renamed in as 7-Eleven: open from 7 a. So, how did 7-Eleven become synonymous with the Japanese convenience store culture as we know it today? Ito is the post-war entrepreneur credited for making it a global brand that sells everything from yoghurt to ready-made meals and medicine, through a series of acquisitions and expansions between the s and s. According to state broadcaster NHK, Ito got his start in , when he became the president of a small apparel store in Tokyo that was run by his family. He later stared selling food and other daily necessities. He renamed the company Ito Yokado and started running the business like a US supermarket. His firm then acquired a controlling stake in Southland in March A year later Ito resigned as president of Ito Yokado "to take responsibility for alleged payoffs to racketeers by company officials," according to NHK. Looking back at 7-Eleven's success, Ito was quoted as saying in the interview: "I am frequently asked if I succeeded because of hard work or because I was just lucky.

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To help provide the best possible experience, this site uses cookies to personalize content, improve your browsing experience and to analyze our traffic. We may also share information about your use of our site with our analytics partners. View our Privacy Notice. In the tournament of taste, we stay winning. Dive in with us as we spill the beans pun intended! Consumer pays applicable sales tax. Available while supplies last. Offer good at participating 7-Eleven, Speedway and Stripes stores.

7-eleven convenience stores

It was named Tote'm Stores between and Both Speedway and Stripes operate alongside 7-Eleven's namesake stores in several markets. The company's first outlets were in Dallas, named "Tote'm Stores" because customers "toted" away their purchases. Some stores featured "native" totem poles in front of the store. In , the chain's name was changed from "Tote'm" to "7-Eleven" to reflect the company's new, extended hours, a.

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As a Premium user you get access to background information and details about the release of this statistic. A year later Ito resigned as president of Ito Yokado "to take responsibility for alleged payoffs to racketeers by company officials," according to NHK. Archived from the original on December 29, Taiwan News. Convenience Stores in the U. Register for free. It was named Tote'm Stores between and In Statista. Learn More. Father of 4 working security killed in West Side dollar store shooting. Sales within the convenience store industry are often split into two main categories: motor fuel and in-store. The Atlantic.

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The partnership was terminated in October , and the remaining 52 7-Eleven stores in Shell petrol stations were gradually rebranded back into Shell Select. October 23, Archived from the original on August 16, Retrieved March 18, Archived from the original on October 1, Archived from the original on May 25, Archived from the original on September 25, August 16, DR in Danish. As of January , there were over 70, 7-Eleven convenience stores in operation around the world. Archived from the original on June 22, He renamed the company Ito Yokado and started running the business like a US supermarket.