Japanese retailer Aeon has invested $1.5B in Vietnam: executive

By Thi Ha September 26, 2024 | 11:56 pm PT

Customers look at items at Aeon Ta Quang Buu outlet in District 8, Ho Chi Minh City on Sep. 26, 2024. Photo by VnExpress/Thi Ha

Japanese retailer Aeon has poured $1.5 billion into Vietnam in over 10 years, and the company is expanding to new localities in the country, an executive has said.

Vietnam is considered Aeon’s second most important market behind Japan, CEO of Aeon Vietnam Furusawa Yasuyuki spoke at an event in Ho Chi Minh City Thursday.

In addition to major cities, the company is extending its presence to other regions, he added.

Aeon Vietnam launched a 7,000-square-meter outlet in HCMC’s District 8 Thursday to cater to demands of citizens in a non-central district.

It now operates seven major malls in Vietnam. Last month, it launched a VND4 trillion (US$163 million) mall in Hue, the largest in the central region.

The company has seen stores recording a revenue growth of 15% year-on-year so far this year even amid global economic difficulties and tightened spending.

Globally, Aeon posted a revenue of $63 billion last year.