FamilyMart, a Japanese convenience store franchise chain, has set a goal of reaching 500 stores in the Philippines in five years, tapping the country’s business process outsourcing (BPO) sector as key growth driver. Philippine FamilyMart CVS, Inc President and General Manager Manuel C. Alberto said the store’s network expansion strategy will prioritize and focus on servicing the office and BPO market. The company has set up at least 100 stores, in the years since it opened its first store in April 2013. FamilyMart earlier said the Philippines is ripe for convenience stores because of the country’s young population and a growing BPO sector. FamilyMart is the first Japanese-owned convenience store chain to go global. It currently has over 16,000 stores globally.
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