Aeon Group plans to have 20 Vietnam mega supermarkets by 2025
Japanese retail giant Aeon will open more stores in Ho Chi Minh City and Hanoi before expanding to other provinces and cities, said Yasuo Nishitohge, CEO of Aeon Southeast Asia.
Vietnam is the key market of Aeon. However, retail market in the country is witnessing changes. We also estimate the purchasing power of Vietnamese people and their needs,” said Yasuo Nishitohge during the inauguration of a second store in Hanoi and the fifth in Vietnam.
The retailer plans to open its next shopping malls in Can Tho, Da Nang, Vung Tau, and Dong Nai. However, getting good location is one of challenges.
Currently, besides the mega supermarkets, AEON has totally 28 AEON Citimart supermarkets, 112 convenient stores. Total sales of the retail system was reported at $322 million, according to data compiled by Mckinsey & Company in September 2019.
In Vietnam market, the retailer expects to raise Vietnamese exports through its retail network to $500 million in 2020 and $1 billion by 2025.
In 2014, the rate of Vietnamese products in the chain was below 40%. Now, it has increased to over 80% when over 2,600 local enterprises become main suppliers of thousands product categories to Aeon system.