Aeon plans to triple Vietnam malls
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Japanese retailer Aeon plans to triple the number of malls in Vietnam by 2025 as part of its expansion strategy to meet the needs of a growing middle class population.
A report said the number of Aeon malls will nearly triple to 16 throughout Vietnam.
Aeon has some 200 stores in Vietnam at present, including six shopping malls.
The stores are concentrated in Ho Chi Minh City and Hanoi, Vietnam’s biggest metropolises.
A mall will be opened in the central town Hue in 2024.
The company is also considering increasing its supermarkets in Hanoi to 100 by 2025, about 10 times the current number.
Vietnam is “the most important market in our overseas strategy,” the report quoted a senior Aeon executive as saying.
The country has a population of 100 million people with an average age of 33. Economic growth of more than 7% is expected this year in a repeat of last year’s performance.
Aeon entered Vietnam in 2014 and has invested over $1.18 billion in the country to date.
Questions & Answers
Q.What is the primary reason Aeon is expanding its presence in Vietnam?
What is the primary reason Aeon is expanding its presence in Vietnam?
Aeon is expanding its operations in Vietnam to address the demands of the country's expanding middle-class population. This strategy positions Vietnam as a crucial market for their international growth plans, reflecting its economic potential and demographics.
Q.How many malls does Aeon currently operate in Vietnam, and what is their target for 2025?
How many malls does Aeon currently operate in Vietnam, and what is their target for 2025?
Aeon currently operates six shopping malls in Vietnam. By 2025, the company aims to nearly triple this number, planning to have 16 malls across the country as part of its ambitious expansion strategy.
Q.Beyond shopping malls, what other expansion plans does Aeon have for Vietnam?
Beyond shopping malls, what other expansion plans does Aeon have for Vietnam?
In addition to expanding its mall portfolio, Aeon is also considering significantly increasing its supermarket presence in Hanoi. The company aims to boost the number of supermarkets there to 100 by 2025, a tenfold increase from current figures.
Q.How much has Aeon invested in Vietnam since first entering the market?
How much has Aeon invested in Vietnam since first entering the market?
Since establishing its presence in Vietnam in 2014, Aeon has made a substantial investment of over $1.18 billion in the country. This highlights their long-term commitment and strategic focus on the Vietnamese market.
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