JAPAN: Aeon outlines Asia expansion warchest
Japanese retailer Aeon is to spend JPY200bn (US$2.49bn) until 2013 on its expansion in Asia, including in China, Malaysia and Vietnam.
"As the Japanese economy slows down, we are actively looking for opportunities in other countries," said an Aeon spokesperson.
Fast-developing Asian countries not only offer great opportunities but "are close to Japan geographically and share a similar culture, which is certainly an advantage for communication", she added.
This year, Aeon's convenient store chain Ministop will be launched in Ho Chi Minh city, Vietnam.
"A local joint venture has already been established," the spokesperson said. Aeon plans to build a shopping mall in the city by 2013.
The retailer operates a variety of formats including shopping malls, convenience stores and small supermarkets. In February, it opened a small supermarket MaxValu Tanjai in downtown Bangkok, selling packed fresh foods to local white-collar workers.
Japanese retailer Aeon said today (5 October) that it would spend JPY44.9bn (US$585m) to buy central Japan-based supermarket chain Marunaka and Sanyo Marunaka, to expand its presence in the region....
- Unilever must "speed" response to consumer trends
- Premier Foods CEO expects UK supermarket rebound
- Briefing: The risks and rewards of e-tail in China
- What the analysts say: Unilever's mixed 2014
- Why US diet guidelines should consider environment
- Lifeway Foods CEO denies sale talks
- Unilever revenues disappoint as food sales fall
- Tootsie Roll CEO Melvin Gordon dies at 95
- Weston Foods acquires Creative Occasions
- McCain to close Grobbendonk plant in Belgium
- The Sugar Backlash and its Effects on Global Consumer Markets
- 10 Key Trends in Food, Health and Nutrition 2015
- The Future of Retailing in the UK to 2017
- Global Consumer Trend Framework: Understanding Attitudes and Behaviors that Influence Global Consumption Habits
- Meat Substitutes Market - Global Trends, Forecasts up to 2019