Japan's FamilyMart exits Thailand as 7-Eleven's dominance grows

Chain's 200 stores will be converted into Tops Daily small supermarkets

BANGKOK, Aug 12 (Nikkei) - Japanese convenience store chain FamilyMart will withdraw from Thailand after its franchise agreement with local retailer Central Group ended in late May, opening the door for rival 7-Eleven to tighten its grip on the market.

The company announced the withdrawal on Thursday. Its roughly 200 stores in the Southeast Asian country will be converted to the Tops Daily brand, a Central Group-owned small supermarket chain, over the rest of the year. ...continue reading