P.M. BRIEFING : 7-Eleven Opens Store in Brazil
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SAO PAULO, Brazil — The giant convenience store operator 7-Eleven opened its first shop today in South America.
The store in Sao Paulo, South America’s largest city, is a joint venture between Southland Corp., the Dallas-based owner of the 7-Eleven chain, and Esteve SA Exportadora, a Sao Paulo-based commodities exporting firm.
Bill Ososki, the American director of the joint venture, said the store represented an investment of more than $500,000.
Ososki said Southland has controlling interest in the joint venture. He said 7-Eleven expects to open nine more stores in the Sao Paulo area by the end of 1991. In the future, 7-Eleven may operate a franchising system to reach its goal of 100 stores in Brazil by 1995.
The new store’s architectural design is identical to that of the 13,000 other 7-Elevens around the world.
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