Masatoshi Ito, a Japanese millionaire, has died at the age of 98. Ito built a global empire out of 7-Eleven convenience shops, bringing an end to one of Asia’s most illustrious retail entrepreneurs.
Seven & I Holdings, the operator of 7-Eleven, confirmed his death in a statement on Monday.
“We’d like to convey our heartfelt thanks for your compassion and friendship throughout his life and respectfully tell you of his passing,” the firm wrote.
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Ito transformed everyday retail in Japan, turning a US-born company into an international brand, particularly in Asia where 7-Eleven shops are rarely more than a few minutes’ walk away in many cities.
Seven & I Holdings now has over 83,000 stores around the world, including 7-Eleven shops in 19 regions and countries.
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