MANILA – The SM group said it is in talks with Alfamart, one of Indonesia's biggest convenience store chains, in a move that could pit it against the 7-Eleven, Ministop, and FamilyMart chains brought in by other retail giants.
"We are still planning with them," Teresita Sy-Coson, SM Investments vice chairwoman said in a text message to ANC.
This would be the second development in three weeks in the fast expanding convenience store market.
Last month, Lucio Co’s Puregold said it was partnering with Japan's Lawson.
In 2012, the Ayala and Rustan’s groups brought in FamilyMart.
The Gokongwei group's Robinsons Retail Holdings Inc. brought in Ministop in 2000, the first challenger to 7-Eleven, which is a venture between the family of former Senator Vicente Paterno and the 7-Eleven franchisee in Taiwan.