Lawson may be following in the footsteps of 7-Eleven, as the company has announced plans to expand overseas.
Japan’s second largest convenience store operator, Lawson Inc., has announced plans for expansion into the U.S. market, as the company increases its overseas expansion efforts.
A report from The Japan Times stated that the chain has set a goal to increase its number of overseas outlets by purchasing chains in the U.S. The chain plans to achieve this expansion within the year.
According to The Japan Times, the company has yet to strike any deals in the U.S., but when the opportunity arises, the company will begin negotiating. Lawson currently operates approximately 12,500 convenience stores in Japan, while it operates only 793 outside the country. In addition to its desired U.S. expansion, the company has revealed plans to expand into Southeast Asia, as well. Lawson has set a goal for a 26% increase in overseas locations by February 2017, at which time the company hopes to have 1,000 overseas locations. The company has no plans to add locations within Japan at this time.
Lawson currently holds a 5.3% market share in Japan, second to 7-Eleven’s 12.2% share, according to The Japan Times. Seven & I Holding Co.’s 7-Eleven is also working to expand overseas, and data suggests that Lawson will have to put forth great effort to catch up with 7-Eleven’s expansion.