Top 10 Convenience Store Events of 2025 Released

Source | Retail Circle

In 2025, China's convenience store industry stood at a dual crossroads of "scale breakthrough" and "quality upgrade." On the consumer side, instant retail demand continued to surge, and the policy of "15-minute convenient living circle" deepened, driving the industry to accelerate its transformation from "enclosing land" to "intensive cultivation." On the capital side, equity changes, strategic restructuring, and the localization game of foreign brands added variables to the competition. Local giants continued to set new records in store scale, foreign brands faced management transitions and strategic adjustments, regional players seized market share through cross-regional expansion and supply chain integration, and niche formats sought breakthroughs in specific scenarios, collectively painting a diverse picture of the convenience store industry in 2025. This year, Meiyijia announced the arrival of the "scale decisive era" with its 40,000-store milestone, adding 10,000 stores in three years, demonstrating the channel explosive power of local brands. Foreign brands like Lawson and 7-Eleven experienced personnel changes and acquisition turmoil, seeking new directions in balancing localization and globalization. Capital moves by companies like Central Mall and Yonghui Superstores reflected the strategic weight adjustment of convenience store businesses in the retail landscape. Meanwhile, regional leaders like Tianfu, Shizu, and Linji showcased the dual logic of "regional deep cultivation + national layout" through cross-regional expansion and format innovation. From breakthroughs in store numbers to deep innovation in operational models, from equity shuffles at the capital level to localization adaptation at the product level, we have compiled the top 10 events of 2025, recording the profound imprints left during this turbulent year in the convenience store industry—the story is far from over, and everything is still happening. Meiyijia's 40,000th Store Lands China's Convenience Store Industry Officially Enters the "Scale Decisive" New Era On July 20, 2025, Meiyijia, a leading domestic convenience store brand, grandly opened its 40,000th store nationwide in Nanning, Guangxi. This marked that after breaking through 30,000 stores in 2022, Meiyijia achieved another significant leap in just about three years, announcing the arrival of the first "40,000-store era" in China's convenience store industry. Since opening its first store in Dongguan in 1997, Meiyijia has focused on the convenience retail main track for 28 years. With a steady pace of net adding 3,000 to 4,000 stores annually, the company successfully achieved strategic expansion from a regional brand to a national brand. Currently, its vast service network covers 22 provinces and cities, more than 240 cities, serving over 250 million customers monthly. This breakthrough further consolidated Meiyijia's absolute leading position in domestic convenience stores. According to data from the China Chain Store & Franchise Association, Meiyijia surpassed Yijie for the first time in 2023 to become the industry leader, and has continued to lead since then. As of the end of 2024, it ranked first in the "China Convenience Store TOP100" for three consecutive years with 37,943 stores and sales of 55.8 billion yuan. From the end of 2024 to the opening of the 40,000th store, Meiyijia added 2,057 stores in just 201 days, an average of about 10 new stores per day, demonstrating astonishing expansion speed. Lawson China's Meritorious Executive Steps Down Strategic Handover Becomes Industry Focus In March 2025, China's convenience store industry witnessed an important personnel change. From March 1, Zhang Sheng no longer served as Vice Chairman of Lawson (China) Investment Co., Ltd. and Shanghai Lawson. This resignation marked a phased end to the twelve-year career of this meritorious executive who brought Lawson China from fewer than 500 stores to over 5,000. Zhang Sheng's story with Lawson China began in 2013. At that time, Lawson's business expansion in China was slow, with store numbers hovering around 300. After joining as General Manager of the East China region, he quickly implemented reforms centered on "efficiency first" and "localization adaptation." He innovatively proposed the "bicycle theory," emphasizing that store opening speed (front wheel) and operational management (rear wheel) must maintain dynamic balance. Under this strategy, he decisively closed 80 loss-making stores and opened 300 new ones, doubling the number of stores in East China in just two years, surpassing the total of the previous 17 years in the region. Subsequently, in 2017, Zhang Sheng became Executive Officer of Lawson, Inc. and Vice President of Lawson (China) Investment Co., Ltd., leading the company's nationwide strategic restructuring. His pioneering "regional master franchisee plan" became a key engine for Lawson's expansion, leveraging local resources of leading enterprises (such as Zhongbai Group and Nanjing Central Mall) to rapidly expand the market. In 2020, Lawson China achieved full-year profitability for the first time, with its "regional master franchise + supply chain optimization" strategy playing a crucial role. In 2021, he led key actions such as acquiring Sichuan WOWO Convenience Stores and Tianhong Weiwu Convenience Stores, consolidating Lawson's layout in key regions. Following the practice of Japanese companies, the work year transitions from late March to early April. Zhang Sheng's resignation at this time is considered a normal personnel adjustment under this cycle. Currently, Lawson China has not announced his successor, and whether the new management will continue the previous strategy has become a focus of industry attention. 7-Eleven Parent Company Changes Leadership Huge Acquisition Falls Through, Japanese Giant's Globalization Faces Hurdles In March 2025, Seven & i Holdings, the parent company of 7-Eleven, announced that independent director Stephen Hayes Dacus would succeed Isaka Ryuichi as President and CEO. Dacus became the first non-Japanese head of the company. This leadership change is seen as a key move to address external challenges and transition from traditional Japanese management to global governance. In tandem with the new appointment, Seven & i Holdings announced a series of major strategic adjustments aimed at "focusing on core business and unlocking value for shareholders." Key plans include: listing its North American subsidiary (7-Eleven, Inc.) in the second half of 2026; selling non-core businesses such as Ito-Yokado to Bain Capital for approximately 814.7 billion yen; and launching a share buyback program of up to 2 trillion yen. The backdrop for this restructuring was to fend off a nearly year-long acquisition offensive by Canadian convenience store giant Alimentation Couche-Tard (ACT). Since August 2024, ACT had proposed a takeover offer worth approximately $47 billion, with a 35% premium, aiming to create the world's largest convenience store group. However, this tug-of-war ended in July 2025. On July 17, ACT announced it had formally withdrawn its acquisition proposal because it had never received a substantive response from Seven & i. In an open letter, ACT accused the Japanese management of refusing to engage in real discussions, describing its contacts as "procedural" and "lacking information." Seven & i Holdings responded that the transaction faced significant regulatory uncertainty and changing market conditions, and the company was focused on executing its independent value-enhancement strategy. After the announcement, Seven & i's stock price plunged on the Tokyo market. Analysts point out that the direct driver for Seven & i's transformation was weak growth in core businesses. In the first three quarters of fiscal 2025, operating profit at its domestic convenience stores fell 8% year-on-year, while overseas business profit dropped sharply by 32%. Especially in China, the world's second-largest retail market, 7-Eleven's store count has significantly lagged behind local competitors Meiyijia and Lawson. FamilyMart Continues Expansion in the Yangtze River Delta On May 16, international convenience store chain FamilyMart opened 10 stores simultaneously in Hefei, officially entering Anhui Province. FamilyMart, from Japan, was founded in 1981. In August 1988, the company established Taiwan FamilyMart Co., Ltd. Around 2000, Japan FamilyMart signed a brand licensing agreement with Taiwan's Ting Hsin Group, and entered the Chinese mainland market in 2004. Since then, all FamilyMart stores in the mainland have been operated under license by Ting Hsin Group. On March 7, 2024, according to official sources from FamilyMart China: "Recently, Japan FamilyMart and Ting Hsin International Group reached a restructuring agreement regarding the expansion and development of FamilyMart's business in mainland China, and the two parties will continue active cooperation." After the restructuring, FamilyMart began rapid store expansion, especially accelerating layout in second- and third-tier cities. Following rapid expansion in Nantong, Foshan, Changzhou, Huzhou, Shaoxing, and other places, in 2025, FamilyMart finally "placed a piece" in Hefei, a Yangtze River Delta city, and subsequently entered Taizhou in Zhejiang and Yangzhou in Jiangsu, with a strong posture of opening multiple stores simultaneously, continuously deepening its network layout in the Yangtze River Delta. By November 20, 2025, FamilyMart entered Yangzhou with a scale of "15 stores opening simultaneously," drawing a close to its city expansion in 2025. Central Mall Adds 25 Million Yuan to Anhui Zhongsun Shareholding Rises to 64% On the evening of February 24, 2025, Nanjing Central Mall (Group) Co., Ltd. (hereinafter "Central Mall") announced that it planned to acquire 20% equity of Anhui Zhongsun Convenience Store Co., Ltd. (hereinafter "Anhui Zhongsun") held by Beijing Innovation Works Venture Capital Center (Limited Partnership) for 25 million yuan. After the transaction, Central Mall's shareholding in Anhui Zhongsun will increase from 44% to 64%, further strengthening control over the convenience store business and promoting supply chain integration and synergistic development. According to the announcement, the equity acquisition price was determined by Yinxin Asset Appraisal Co., Ltd. The appraised value of all shareholders' equity of Anhui Zhongsun was 127 million yuan, and the negotiated transaction price for the corresponding 20% equity was 25 million yuan, to be paid by Central Mall in 39 installments. It is noteworthy that the transaction price is significantly lower than when Innovation Works invested in 2018—at that time, Innovation Works invested 60 million yuan to obtain 20% equity of Anhui Zhongsun, and this transfer represents a loss of nearly 60% of the principal. A Central Mall official said that Innovation Works' transfer was due to financial investment exit needs, and both parties reached an agreement based on the appraisal report. Anhui Zhongsun was established in June 2018 and is the core entity for Central Mall's convenience store layout. It holds the franchise rights for Lawson in Anhui Province and operates Lawson convenience stores under a "direct operation + franchise" model. Since opening five stores simultaneously in Hefei in July 2018, its business has gradually expanded to multiple cities in Anhui Province. As of the end of June 2024, the total number of stores reached 222. Financial data shows that in 2024, Anhui Zhongsun achieved operating revenue of 274 million yuan, with a net loss of 215,000 yuan. As of the end of 2024, total assets were 144 million yuan, and net assets were 16.2019 million yuan. In October 2018, to integrate resources and introduce funds, Anhui Zhongsun introduced Innovation Works as an external shareholder, which invested 60 million yuan for 20% equity, forming a shareholding structure of Central Mall, Shanghai Xunmo, Innovation Works, and Changjiang Risheng holding 44%, 28%, 20%, and 8%, respectively. At that time, Central Mall stated that the capital increase would help Anhui Zhongsun quickly seize the market, and equity diversification would also help improve governance structure. With this buyback, Central Mall aims to reduce internal coordination costs and improve operational efficiency and profitability. Tianfu Wins Bid for Dongguan Metro Full-Coverage Project "Convenience Store + City IP" Cross-Border Model Opens New Curve On November 28, 2025, with the official opening of Dongguan Rail Transit Line 1, a bright "Tianfu Red" also lit up this new urban artery. Local convenience store giant Guangdong Tianfu Chain Commercial Group, as the exclusive operator, welcomed the opening of its first batch of stores on Line 1 and Line 2. This marks Tianfu's full coverage of convenience store services on Dongguan's opened metro lines, making it the only convenience store brand with full coverage in Dongguan Metro. Tianfu's winning bid and operation of the entire metro line project is a deep practice of its "convenience store +" cross-border model. By integrating local culture, trendy toys, and food resources, Tianfu upgrades metro convenience stores from simple "supply stations" to "mini exhibition halls" and "mobile windows" that showcase the city's image and spread local culture. This is not only an innovation in business models but also expands the functions of urban public services. As a chain brand originating from Dongguan, Tianfu has over 7,500 stores in 40 cities across 6 provinces since its establishment in 2004, ranking among the top in China's convenience store rankings. This successful bid for its hometown metro convenience store project is both recognition of its operational capabilities and a reflection of local enterprises' deep participation in urban construction. Shizu Opens 128 Stores Simultaneously, Enters Hunan National Expansion Continues to Make Moves On May 20, 2025, Shizu Group, one of the top ten convenience store companies, held a grand ceremony in Changsha to celebrate the simultaneous opening of 128 new stores in the Hunan market. This "hundred-store simultaneous opening" was not only an important event for Shizu Group's 24th anniversary but also marked its official entry into the central core consumer market after starting in Zhejiang and expanding through the Yangtze River Delta. The 128 new stores are mainly concentrated in Changsha city, with the opening ceremony held at Shizu Xiyingmen store in Yuhua District. This high-density, concentrated store opening strategy demonstrates Shizu Group's expansion model centered on "regional deep cultivation," aiming to quickly form brand influence and operational synergy through scale layout. Shizu Group's national path is clear. The company was founded in Wenzhou, Zhejiang in 2001. After 17 years of deep cultivation in the local market, it began expanding to Jiangsu, Anhui, and other Yangtze River Delta regions in 2018. 2024 was its key "first year of national development." After successfully entering the Shandong market, the group officially began its strategic layout in the central region through cooperation with Hunan local convenience store brand "Qianhui." This hundred-store simultaneous opening is a concentrated manifestation of this cooperation's results. To support rapid expansion in new markets, Shizu Group has made full preparations in the supply chain. It is reported that the group built ambient and cold chain warehousing centers in Changsha in October 2024 to ensure the freshness and delivery timeliness of products in Hunan. On the product level, in addition to its core categories such as "Shizu Meal" and its own coffee brand "Jupa Coffee," Shizu also stated it will conduct in-depth research on local needs in Hunan and plans to introduce more diverse and trendy elements such as popular IP collaborations and themed stores in the future to get closer to local consumers. Linji Enters Nanjing for the First Time, Settles Jiangsu Headquarters Three-Province Linkage Starts New Journey of National Strategy On August 27, 2025, domestic convenience store chain Linji officially entered the Nanjing market, with its first ten stores opening simultaneously that day. At the same time, the Linji Convenience Store Jiangsu Regional Headquarters project was signed and settled in Nanjing Jiangning Development Zone, marking a key step in its national layout and opening a new stage of "three-province operation" in Anhui, Fujian, and Jiangsu. This high-profile entry into the core Yangtze River Delta city is another important cross-province expansion since Linji developed the Fujian market in 2022. The brand has developed rapidly since its founding in Hefei in 2017. As of June 2025, the total number of stores nationwide exceeded 1,400, serving an average of 650,000 customers daily. According to the agreement, the newly established Jiangsu regional headquarters has a registered capital of 30 million yuan and a total investment of 300 million yuan, and will be fully responsible for business in Jiangsu. The company plans to open 1,000 stores in Jiangsu Province within the next five years, achieving revenue exceeding 1.5 billion yuan. To deeply cultivate the Nanjing market, Linji implemented a deep localization strategy. On the product level, relying on its own fresh food factory, it developed and launched multiple localized fresh food products targeting Nanjing residents' dietary preferences, strengthening the "five meals a day" solution. In terms of consumption scenario creation, some stores' leisure areas cleverly incorporate cultural elements of the ancient capital of six dynasties, aiming to provide consumers with a rest space that combines modern convenience and historical heritage. In addition, the stores offer free charging, Wi-Fi, hot water, and other thoughtful services, and have increased promotion of high-quality private brand products such as 100% NFC fresh-squeezed orange juice and craft beer. Yonghui Superstores Continuously Reduces Holdings in Hongqi Chain: Capital Cash-Out Under 9.7 Billion Loss, Strategic Cooperation Cools On December 23, 2025, Hongqi Chain issued a shareholder reduction pre-disclosure announcement stating that Yonghui Superstores planned to reduce its holdings by no more than 13.6 million shares (1% of total share capital) through centralized bidding within three months after 15 trading days from the announcement date, and no more than 27.2 million shares (2% of total share capital) through block trading. The day after the announcement, Hongqi Chain's stock price opened significantly lower and continued to weaken. By the close, the stock fell more than 8% for the day, almost giving back the cumulative gains of the previous week. The author noted that this is already the third time Yonghui Superstores has disclosed a plan to reduce its holdings in Hongqi Chain shares within 2025. This move also reflects its intention to continuously and systematically exit its investment in Hongqi Chain in recent years. The capital bond between Yonghui Superstores and Hongqi Chain began in 2017. At that time, Yonghui Superstores spent more than 1.65 billion yuan to acquire shares in two installments, ultimately holding 21% of Hongqi Chain's equity, becoming its second largest shareholder. The two parties signed a strategic cooperation agreement, intending to achieve complementary advantages in supply chain, logistics, and other fields. However, this "marriage" failed to withstand the impact of industry changes. In December 2023, cooperation began to loosen, and Yonghui disclosed a share transfer plan. In November 2024, Yonghui Superstores transferred 10% of shares to Sichuan Shangtou Investment Co., Ltd., becoming a financial investor, laying the groundwork for phased reductions in 2025. Entering 2025, Yonghui Superstores began the path of reducing holdings in Hongqi Chain. First, in April, Yonghui reduced 13.6 million shares (1% of share capital) through centralized trading, but because it failed to disclose in a timely manner at the key node when its shareholding ratio dropped to 10%, it received a warning letter from the Sichuan Securities Regulatory Bureau in September. Then in August, Yonghui pre-disclosed a new reduction plan, intending to continue reducing no more than 1% of shares. This plan was completed in October, and Yonghui Superstores' shareholding ratio further dropped to approximately 8.99%. If the aforementioned third reduction plan is fully implemented, its shareholding ratio will further drop to 5.99%. Behind Yonghui Superstores' eagerness to cash out is its own severe operational and financial pressure. The company has been loss-making for many years, with cumulative losses from 2021 to the first half of 2025 reaching approximately 9.74 billion yuan. To survive and change, Yonghui is implementing a deep adjustment nationwide labeled "Learning from Pangdonglai," closing long-term loss-making stores while thoroughly innovating products and services in remaining stores, which undoubtedly requires substantial financial support. Reducing holdings in Hongqi Chain has become an important way for it to recover funds and supplement cash flow. MUJI com Lands in Hong Kong Small Convenience Format Restarts Asian Market Test On October 24, 2025, MUJI, the international lifestyle brand, officially launched its small convenience store format "MUJI com" in Hong Kong. The first two stores are located on L3 of MTR Hong Kong Station and 1F of MTR Tsing Yi Station, marking the brand's first breakthrough beyond traditional department stores in Hong Kong, expanding into the convenience store field centered on meeting high-frequency, immediate needs of urbanites. The newly opened "MUJI com" is based on the convenience store model, primarily serving fast-paced groups such as commuters and students. The stores offer a curated selection of light meals and beverages, beauty and skincare, stationery, and daily necessities, aiming to create an efficient and convenient one-stop supply station. To fit Hong Kong's local lifestyle, both stores fully adopt self-checkout and electronic payment systems to enhance efficiency. The store highlight is the strengthened food and beverage service. Both stores have a "bread section" offering a variety of natural handmade bread daily. Among them, the Tsing Yi station store exclusively adds a "COFFEE STAND," using locally freshly roasted specialty coffee beans to provide freshly ground hot and cold drinks. This setting further enhances its appeal in commuting scenarios. The "com" in the "MUJI com" brand name represents its three concepts: Compact (streamlined and practical), Convenience (easy and convenient), and Community (community connection). This opening in Hong Kong is not the first attempt of this format. MUJI com was first launched in Japan in 2016 and entered the Chinese mainland market in 2020, opening stores in Beijing and Shanghai, but subsequent expansion was slow. This time, settling in Hong Kong and choosing to upgrade existing station stores is seen as a key step for MUJI to reactivate and test this small format in the Asian market. Final Thoughts In 2025, the convenience store industry completed an important industry reshuffle driven by both scale expansion and model innovation. Local brands continued to consolidate their market dominance by leveraging channel sinking capabilities, supply chain response speed, and localization operational advantages. Meiyijia's breakthrough of 40,000 stores and the cross-regional expansion of Shizu and Linji confirmed the feasibility of "regional deep cultivation + national replication." Meanwhile, foreign brands explored transformation through management iteration and strategic restructuring. The leadership change and termination of acquisition at 7-Eleven's parent company, and the resignation of Lawson's meritorious executive, reflected the adaptation challenges of foreign models in local competition. At the capital level, equity acquisitions, reduction cash-outs, and strategic capital increases ran in parallel. Central Mall increased its stake in convenience store business, while Yonghui Superstores reduced holdings in Hongqi Chain, reflecting both companies' strategic choices regarding convenience store businesses and the industry's resource optimization logic under profit pressure. In terms of format innovation, cross-border models such as "convenience store + metro scenario," "convenience store + city IP," and "convenience store + local fresh food" emerged endlessly. Tianfu's metro-themed stores and FamilyMart's regional limited products upgraded convenience stores from "product supply stations" to "urban service carriers," expanding the industry's value boundaries. Looking ahead, competition in the convenience store industry will shift from quantity competition to quality competition. Supply chain digitalization, product differentiation, and service scenarioization will become core competitiveness. Local brands need to improve profitability on the basis of scale, foreign brands need to accelerate localization adaptation and strategic implementation, and regional players need to build differentiated advantages in niche markets. With the continuous improvement of the instant retail ecosystem and the upgrading of consumer demand, convenience stores, as the retail terminal closest to consumers, will further integrate into community services, urban functions, and digital ecosystems, seeking new growth curves in industry restructuring. The top 10 events of 2025 are just the starting point of industry transformation. In the future, only players with scale advantages, innovation capabilities, and operational efficiency can stand firm in this long-term battle. [Moving Forward to C-End] The 11th China FMCG Conference Date: March 16-18, 2026 Location: Chengdu, China