The CEO of Aeon Vietnam has stated that the company is constantly seeking partnerships with real estate developers to open more general merchandise stores and supermarkets.
Aeon Ta Quang Buu is located in Parc Mall. Photo: Aeon.
On September 26, Aeon Vietnam officially inaugurated the Aeon Ta Quang Buu General Merchandise Store and Supermarket in District 8, Ho Chi Minh City. The supermarket is located within the Parc Mall, developed by Van Thai Land.
Mr. Furusawa Yasuyuki, a member of Aeon’s Executive Board (Japan) in charge of the Vietnamese market and CEO of Aeon Vietnam, explained that the new model of Aeon Ta Quang Buu is part of the company’s strategy to expand and diversify its business models to meet the growing needs of Vietnamese consumers.
Previously, Aeon had launched other general merchandise stores and supermarkets within shopping centers developed by partners or located in residential areas and city centers, such as Aeon The Nine (Hanoi), Aeon New City (Binh Duong), and Aeon Nguyen Van Linh (Ho Chi Minh City).
According to Mr. Furusawa Yasuyuki, during more than a decade of development, Aeon Vietnam has continuously sought partners to expand its reach and increase “touchpoints” with customers. However, it is only in recent years that the company has found suitable retail real estate developers that meet its requirements.
He also pointed out that rising rental costs in shopping centers have posed a significant barrier to the expansion of this model. As a result, Aeon has had to work harder to find locations that fit within its budget.
“Aeon’s presence in shopping centers consistently attracts a large number of shoppers, not just to our stores but also to other brands within the same complex. This is a positive factor, so I hope that real estate developers in Vietnam will consider offering reasonable rental rates that allows for mutually beneficial cooperation,” added Mr. Furusawa Yasuyuki.
The executive noted that Aeon’s business saw a growth of around 15% in the first eight months of the year compared to the same period last year. However, he remains cautious about the year-end business outlook due to rising prices and tighter consumer spending.
In its long-term vision, Vietnam is seen as the second most important market for Aeon, alongside Japan, as part of the group’s overall strategy.
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Source: Vietnam Insider