Suzuki revolutionised how Japanese people shop when he opened the nation’s first 24-hour 7-Eleven franchise in 1974, a time when mom-and-pop stores dominated the local retail landscape. He bought 7-Eleven’s US parent, Southland Corp, after it filed for bankruptcy in 1990 and went on to expand it to more than 55,000 outlets in at least 16 countries by the time he left in May 2016.
(May 25): Toshifumi Suzuki, who built 7-Eleven into the world’s largest convenience store chain and became chief executive of Seven & i Holdings Co, only to lose the top job following a boardroom coup, has died of heart failure. He was 93.
The Japanese retailer announced his death on May 18 in a statement Monday. “We would like to express our deepest gratitude for the kindness and support shown to him during his lifetime, and respectfully inform you of his passing,” the company said.
