* Plans to sell own-brand products through Seven-Eleven chain
* Eyes cost reductions through global procurement
By Taiga Uranaka
May 19 (Reuters) - Seven & I Holdings said it would begin sales of its popular own-brand products outside Japan through its Seven-Eleven convenience stores, the latest major retailer to ramp up own-brand offerings amid a global economic slump.
Retailers such as global leader Wal-Mart Stores and domestic rival Aeon Co Ltd have also seen sales of own-brand items climb as consumers become increasingly price-conscious.
Seven & I, which boasts 36,000 Seven-Eleven convenience stores worldwide and which also sells own-brand items at its Ito-Yokado supermarkets in Japan, said it expects strong demand in other markets and hopes to reduce procurement costs through the expansion.
It plans to develop and sell 100 new own-brand items in Japan and the United States in the financial year starting next March, before expanding to other markets, said company spokesman Minoru Matsumoto.
The Nikkei business daily said annual sales are likely to grow to 1 trillion yen ($10.4 billion) over three years, but Matsumoto said the company did not have a specific sales target.
Seven & I expects its own-brand sales to increase 60 percent to 320 billion yen for the financial year ending next March. Rival Aeon has forecast a 40 percent growth in its own-brand sales this year to 500 billion yen.
Through a franchise system, Seven & I has about 12,000 Seven-Eleven stores in Japan and 6,300 in the United States. The chain has outlets in 13 other countries, including Taiwan, Thailand and South Korea. ($1=96.41 Yen) (Reporting by Taiga Uranaka; Editing by Joseph Radford and Edwina Gibbs)