The three year partnership between two global brands in the country, convenience store giant, 7-Eleven and major petroleum supplier, Chevron Philippines Inc, is now geared to take the next step to strengthen their partnership with the signing of the Memorandum of Agreement on July 6, 2012 at the first site ever to be converted to a 7-Eleven store at Caltex Malugay-Buendia in Makati City last October 2009.
That same month in 2009, seven more stores were opened in Caltex retail outlets across Metro Manila. Currently, there are a total of 30 7-Eleven convenience stores n Caltex stations in the metropolis.
Aside from the renewal of the partnership, Chevron and Philippine Seven Corp., the exclusive local franchisor of 7-Eleven stores, will increase the number of stores for conversion. Out of these stores slated for conversion, 15 will be opened in Cebu starting this July as part of PSC’s aggressive expansion plans.
The first MOA on this partnership was signed last August 6, 2009 between CPI Country Chairman Jim Meynink and PSC President and CEO Victor Paterno. Chevron and PSC entered into this partnership to boost their respective sales and market shares in the petroleum and consumer products through increased visibility and reach.
Meynink said the partnership with 7-Eleven is “part of a global strategy geared at making us concentrate on our core business function which is to market top quality fuels and petroleum products safely and reliably.”
He added that “7-Eleven’s market leadership and proven track record in convenience store operations coupled with the popularity of the Caltex brand of fuels and petroleum products is a compelling value proposition for our consumers and motorists whenever they drive through a Caltex retail station with a 7-Eleven convenience store in it.”
Paterno for his part thanked Caltex “for placing its trust in us as we build our brands together and move forward.”
He added that “this is the first ever partnership with a globally- recognized consumer brand as Caltex will certainly open some very exciting marketing opportunities for Caltex, 7-Eleven and the consumers, particularly car-riding customers that we will be jointly serving.”
The strategic partnership, as expected, helped boost fuel and consumer sales as patrons of the two popular brands enjoy the benefit of getting their fuels and consumer products all in the same location.