JAPAN: Retailer Aeon targets Vietnam, Malaysia, China expansion
Japanese retailer Aeon is expanding its business in Vietnam, Malaysia and into smaller cities in China.
Aeon has opened a new national headquarters in Ho Chi Minh City, Vietnam's commercial capital. A spokesperson said a new Aeon Vietnam subsidiary would control "all of our businesses in the country, including convenience stores, shopping centres and supermarkets".
In December, Aeon opened its first Ministop c-store in Vietnam in Ho Chi Minh City. Its first shopping centre in the country is now under construction in the city and is scheduled to be ready by 2014. The company plans to open 130 outlets countrywide.
Vietnam is part of Aeon's 'Asia Shift' expansion strategy, which will see the retailer expand across Asia. At the end of February last year, Aeon had almost 14,000 outlets across twelve Asian territories, including Hong Kong and Taiwan.
Aeon is planning to open its first stores in the Malaysian capital of Kuala Lumpur this year.
In December, Aeon set up a headquarters in China in Beijing and will open stores in the country's fast developing inland areas, including Jiangsu and Zhejiang provinces. The retailer has also launched its Top Value private-label range to all of its current 61 stores in China, including lines such as peanut cooking oil and organic chestnuts. Aeon plans to sell over 1,000 own-brand items in China in 2013, up from 115 today and is reportedly looking to increase its sales in the country by 30 times by 2020 to JPY3.6 trillion.
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