Aeon Accelerating Its Expansion Pace

Ramping up its presence in Vietnam, Japanese retailer Aeon is planning to build seven shopping centres in the country, with construction on its first shopping mall due to start in 2012 and be completed by early 2014. Aeon's announcement comes closely after the Vietnamese government gave its regulatory nod for it to establish a local subsidiary in the country. Under the regulatory permit, Aeon will be able to establish its own-branded supermarkets, shopping malls, department stores and specialised stores. With competition quickly heating up in the Vietnamese mass grocery retail (MGR) market, Aeon's plans to establish shopping malls should give it a greater control over its operating leases for its grocery retail outlets and equip it with a strong competitive foothold.

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