Aeon plans more malls

Japan’s Aeon Group plans to significantly expand its network of malls with new openings in the pipeline across southeast Asia.

The expansion includes 20 malls in Cambodia, 19 in Indonesia and four in Vietnam.

“We see real market potentials for the mall business for respectable entrepreneurs,” said Akifumi Nakamura, executive GM, Asean division.

The expansion is also aimed at gaining a dominant position in key developing markets including Myanmar, Cambodia, Malaysia, Indonesia, Vietnam and China. The company also plans to tap other new markets in the future, says Nakamura.

“Strong economic growth in this region has also sparked positive economic opportunities that to us indicate the dawn of the age of the shopping mall,” he said.

Aeon also has a liaison office in India, and is conducting market research for a possible joint venture there. The Japanese group has been approached by two Indian grocery retail operators interested in a partnership in the country.

Aeon’s shopping mall business achieved operating income of 40.8 billion yen (US$511 million), 6.5 per cent up than the previous year, in the year to February.

With the aim of boosting brand recognition, the group adopted the name ‘Aeon Mall’ for all domestic mall-type shopping centers, while neighborhood shopping centers were uniformly given the name ‘Aeon Town’.

GB

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