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Tag: Aeon

  • Aeon eyes 100 grocery stores in Vietnam

    Aeon eyes 100 grocery stores in Vietnam

    Aeon has unveiled plans to expand its network of MaxValu compact supermarket stores in Vietnam, eyeing about 100 new locations across the country by 2025.

    According to Nikkei Asia, the expansion will include a larger store format with floor space spanning 500sqm or more. MaxValu currently operates four Vietnam stores, all in Hanoi. In addition, Aeon Group’s subsidiary, Aeon Mall, aims to expand its network of malls in Vietnam from six to 16 by 2025.

    Despite the challenges of the Delta-variant wave hitting the country, the group sees significant opportunity in the Southeast Asian market, where customers are gradually shifting from shopping at local markets to supermarkets due to hygiene concerns.

    “Next year, Aeon Vietnam will focus on opening more business locations with diverse retail models including shopping malls, department stores, supermarkets, convenience stores and specialized stores,” Furusawa Yasuyki, general director of Aeon Vietnam, told local press.

    The expansion plan also helps Aeon further strengthen its position in the market, where retail giants such as locally-owned Masan Group and Thailand’s Central Group are ramping up the competition.

    Last week, Masan Group unveiled an expansion plan for its mini-mall chain WinMart+, which will integrate a to-go cafe and mini bank offices including ATMs and customer-service reps. The group is set to have 20,000 franchised stores together with an addition of 10,000 outlets owned by the group by 2025. WinMart+ is expected to expand the multi-utilities concept in the future.

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  • Japanese business giants eye expansion in Vietnam

    Japanese business giants eye expansion in Vietnam

    Japanese companies, including retailer Aeon and energy firm Enos, have told Prime Minister Pham Minh Chinh that they want to expand their investments in Vietnam.

    The country’s business environment is improving and Japanese companies have confidence in their Vietnamese operations, the heads of major companies told Chinh in Tokyo Tuesday. The Prime Minister is on a four-day official visit to Japan.

    Aeon, with six malls in the Southeast nation, has invested $1.18 billion in the country so far, and its chairman, Motoya Okada, said it wants to double the number of malls.

    It also wants to list on the Vietnamese stock market and begin exports of fisheries and garment products to Japan, he added.

    Chinh said the company’s plan is opportune since Vietnam now offers great advantages due to its 17 free trade agreements.

    Aeon could expand its business and source products from several localities like Thanh Hoa, Nghe An, Quang Ninh, Hai Phong, An Giang, and Kien Giang, he said.

    Eneos, one of the biggest energy firms in Japan and with annual revenues of $70 billion in Vietnam, wants to expand its investment.

    Chairman Tsutomu Sugimori expressed interest in Vietnam’s energy development plan and helping reduce its carbon emissions.

    Chinh welcomed this, saying his country is drafting its Power Development Plan VIII with a focus on diversifying power sources and developing clean and renewable energy.

    Fast Retailing, which owns fashion brand Uniqlo, wants to invest further in Vietnam. Chinh said the company should to help local employees reach global standards.

    Japan’s leading pharmaceutical firm Shionogi wants to establish its first Covid-19 research and manufacturing facility in Southeast Asia in Vietnam. Conglomerate Hitachi wants to contribute to Vietnam’s railway development.

    Masayoshi Fujimoto, chairman of conglomerate Sojitz Corporation, said his company is also interested in reducing carbon emissions in Vietnam.

    It has 17 ventures in Vietnam in equipment manufacturing, energy, chemicals, electricity, and others.

    Chinh said Sojitz should grow timber in his country and export it to major markets.

    Another conglomerate, Marubeni Corporation, is interested in power projects in Vietnam and wants to develop infrastructure for the Quang Yen economic zone in the northern province of Quang Ninh.

    Chinh said it should focus on Vietnam’s transition to energy sources that are modern and environment-friendly.

    He told the executives they could contact his ministers to resolve any challenges they might face while seeking to invest. “If that does not work, send me a letter directly”.

    Japan was the third biggest foreign direct investor in Vietnam in the first 10 months, behind Singapore and South Korea, with a registered capital of nearly $3.4 billion, accounting for 14.3 percent of total, according to the Ministry of Planning and Investment.

    In the first 10 months, bilateral trade rose 6.4 percent year-on-year to $34.4 billion, according to Vietnam Customs.

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  • AEON to build $190-mln shopping mall in northern province

    AEON to build $190-mln shopping mall in northern province

    Vice-chairman of Bac Ninh People’s Committee, Vuong Quoc Tuan, said the province would provide support for the key project to get underway as soon as possible.

    General director of AEON Mall Vietnam, Nakagawa Tetsuyuki, said the Bac Ninh Province’s traditional products and farm produce would be sold at the outlet and possibly be exported to Japan. Around 3,000 jobs would be created, he added.

    In February AEON had signed an MoU with Thua Thien-Hue to do market research for opening an AEON mall in the central province. It is likely to cost $160 million.

    AEON has six malls in HCMC, Hanoi and Hai Phong and the southern province of Binh Duong.

    It plans to have 20 across the country by 2025 with the total investment of $2 billion.

  • AEON Thailand Foundation supports the Cardiac Children Foundation of Thailand in Congenital Heart Disease project

    AEON Thailand Foundation supports the Cardiac Children Foundation of Thailand in Congenital Heart Disease project

    Ms. Suporn Wattanavekin (right), Chairman of AEON Thailand Foundation donated 500,000 Baht to the Cardiac Children Foundation of Thailand under the Royal Patronage of H.R.H. Princess Galyani Vadhana Krom Luang Naradhiwas Rajanagarindra in support of the “Children with Congenital Heart Disease Surgery Project”. The donation, received by Dr. Thanarat Layangool (left), President of The Cardiac Children Foundation of Thailand, will go towards surgeries and cardiac catheterizations outside office hours for up to 14 pediatric patients.

     

  • Aeon sales down due to Covid-19, but now up again

    Aeon sales down due to Covid-19, but now up again

    Aeon logged a consolidated net loss of ¥53.9 billion in the March to May period, it’s the largest loss since the retail giant began releasing quarterly net balance information in the fiscal year to February 2005.

    The company was in the red in its first-quarter net balance for the second straight year, according to its earnings report released on Wednesday.

    The massive red ink reflected the impact of the COVID-19 epidemic on Aeon’s mainstay general merchandise retail business, with temporary closures of Aeon shopping malls amid the virus crisis also weighing on the retail group’s earnings.

    People’s efforts to stay home to avoid infections that started to spread in March led to plunges in sales of all goods excluding food items at Aeon’s general merchandise outlets, and the drops accelerated after the government’s declaration of a state of emergency over the novel coronavirus that causes the disease in April.

    The retail group’s real estate development business, for shopping malls and other commercial facilities, also struggled as the pandemic caused temporary closures of half of its Chinese facilities in February and all of its domestic facilities in April, leading to a large cut in rental income from tenants.

    Meanwhile, food sales grew as more people stocked up food items for consumption at home. The brisk food sales led to an improvement of some ¥20 billion in the company’s operating income for the category.

    The health and wellness business also boomed on the back of robust sales at drugstores.

    Aeon did not revise its earnings forecasts for the full fiscal year ending next February, saying that, while businesses are recovering faster than expected, the company is not yet in a state that would require estimate revisions.

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  • Aeon Malaysia reports second-quarter loss likely due to virus outbreak

    Aeon Malaysia reports second-quarter loss likely due to virus outbreak

    Japanese mall brand Aeon’s operations in Malaysia have reported a net loss of US$2.3 million for its second fiscal quarter this year.

    The losses, which followed a first-quarter net profit of $1.8 million, are being considered as an effect of the coronavirus outbreak and the movement control orders executed in the territory and subsequent closures of non-essential tenants, along with lower rental pricing. It is a drop of 19.9 percent from the same period last year.

    Aeon MD & CEO Shafie Shamsuddin said that recent months had been a tough journey while expressing gratitude to the group for managing to bounce back in May and June.

    Aeon Malaysia’s current priorities include enhancing its safe-shopping environment with its personal shopper and home delivery services, as well as the launch of its online virtual mall. The group’s malls expanded their drive-thru services to more locations following an introduction of the service using personal shoppers in March.

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  • AEON Thailand Foundation donates computers and school necessities to The Thai Red

    AEON Thailand Foundation donates computers and school necessities to The Thai Red

    Ms. Suporn Wattanavekin (2nd from left), chairman of AEON Thailand Foundation donated computers, sport equipment, and water dispensers valued 1,095,385 Baht to Relief and Community Health Bureau, The Thai Red Cross Society, received by Lt.Gen.(Rtd) Amnat Barlee, M.D., Director (at the center). The supplies will transfer to schools and unprivileged communities nationwide. One of AEON Thailand Foundation’s mission is to make better living for local areas across Thailand.

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  • AEON partners with Big C to launch ‘Big C World Mastercard’ for the ultimate shoppers in the New Normal era

    AEON partners with Big C to launch ‘Big C World Mastercard’ for the ultimate shoppers in the New Normal era

    Mr. Nuntawat Chotvijit (Left), Director of AEON Thana Sinsap (Thailand) Public Company Limited, a leading retail finance company, together with Dr. Piyawan Piyapong (Right), Executive Vice President-Service and Ecommerce Business of Big C Supercenter Public Company Limited, Thailand’s leading hypermarket business announced the premier of “Big C World Mastercard”, a credit card that provides exclusive contactless payment solution that suits the cashless lifestyle of the ‘New Normal’ shoppers. The card offers superior shopping benefits and experience, both online and offline at Big C stores nationwide, under the slogan “The best credit card @ Big C “. Benefits include up to 10% discount for Big C shopping online and 7% discount including the electrical appliances department at Big C stores. Cardholders will also earn x5 reward points for a shopping of THB 10,000 or more, with terms applied, as well as a 10-months 0% installment plan at the electrical appliances department. In addition, cardholders can earn 1 AEON Happy Point for every THB 20 spent, which can be used to redeem Big C gift vouchers and many other privileges from the Big Card at leading partner stores.

    Exclusively for the launch of Big C World Mastercard, customers that spend a total of THB 30,000 or above by the card will receive a Lock & Lock Frying Pan, Eco Fryer 3.5 liters valued THB 4,490, along with THB 500 Big C discount code. Apply to receive special privileges from July 1st to December 31st, 2020.

  • Aeon Hong Kong unveils new concept stores

    Aeon Hong Kong unveils new concept stores

    Aeon Hong Kong has unveiled new-look store concepts in two suburbs – Tsim Sha Tsui and Tsuen Wan.

    The stores feature several new zones and a new look alongside the retailer’s traditional supermarket offer.

    The Aeon Hong Kong supermarket located in Tsim Sha Tsui shopping center The One since 2011 reopened on Friday after remodeling. Aeon says the store is targeting both office workers and local residents with its product mix.

    Spread over two floors, the retail space is split into two concepts. On the Lower Ground 1 floor, Living Plaza offers household and daily necessities and a gourmet food area with a focus on Japanese and Thai cuisine.

    On Lower Ground 2, the Aeon supermarket gathers food from Japan and around the world alongside the Home Coordy section (pictured above)

    The pet products zone (above) features a wide range of Japanese pet food and supplies brands such as Ciao, Inaba and Nisshin.

    Meanwhile, the Aeon Tsuen Wan store features a store-in-store for casualwear label iC, (above), a beauty-products zone (below) and space dedicated to trendy outdoor products.

  • Aeon to open mall in Myanmar by 2023

    Aeon to open mall in Myanmar by 2023

    Japan’s largest retailer Aeon is to open a shopping mall in Yangon, Myanmar’s largest city, in 2023. The Japanese retailer will partner with Myanmar conglomerate Shwe Taung Group to set up a joint venture in the country this year.

    The new Aeon shopping mall will target Myanmar’s middle class, which is predicted to increase significantly during the next few years.

    The opening plan is part of the group’s strategy to strengthen its position in the Southeast Asian market. Aeon Group generated US$315 million profit from the region’s operations in the fiscal year to February last year.

    “We will continue our targeted investment in Asia,” said Akio Yoshida, president of Aeon. “I think [Myanmar] will trace the same trajectory Japan once traveled toward a ‘100 million middle class.’”

    Yangon has a population of 5.2 million and was the nation’s capital until 2006.

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  • Aeon Vietnam plans a massive expansion

    Aeon Vietnam plans a massive expansion

    Japanese retail giant Aeon Vietnam says it will invest US$2 billion expanding its presence across the country.

    Aeon Vietnam opened its fifth shopping center in the country last November, its second in the capital city Hanoi. Now, the general director of Aeonmall Vietnam, Iwamura Yasutsugu, says the company is eyeing 25 centers across the country

    Aeon launched in Vietnam in 2013, opening its first mall, Celadon City, in a remote suburb of Ho Chi MInh City, which was expanded last June. More malls have been built in locations including the industrial city of Binh Duong, near Ho Chi Minh City, and Hanoi’s Long Bien district.

    The latest center, in the Duong Noi commune at Ha Dong, covers 150,000sqm and has about 200 tenant stores as well as the Aeon hypermarket and food anchor.

    Aeon’s strategy to date of expanding in Vietnam is to build centers in suburban districts rather than downtown locations, shaping its offer to local communities and mixing local goods with imported products.

    Aeon Vietnam also has a program to boost exports of Vietnamese goods to stores it operates outside the country. It aims to export US$500 million of goods this calendar year and reach $1 billion within five years.

    Last August, Aeon’s Japanese board held a meeting in Ho Chi Minh City and toured the Celadon City site, further evidence of the company’s commitment to the market.

    At the time, chairman Hiroshi Yokoo described Vietnam as “the most significant market of the company in Southeast Asia”.

    Aeon Vietnam plans US$2 billion expansion

  • Aeon opens second mall in Hanoi, Vietnam

    Aeon opens second mall in Hanoi, Vietnam

    Located in Hanoi’s southwestern district of Ha Dong, the three-story mall occupies a 22,700sqm area, featuring 221 retail tenants covering food, fashion, household goods and entertainment. The new mall brings more than 40 brands new to the city including Koi tea, The, Dune London, Idoome, Jack & Jones, Kipling and Typo.

    Before the opening ceremony, the general director of Aeon Vietnam, Nishitohge Yasuo, said the Vietnam retail market is changing and becoming increasingly competitive. He said Aeon Mall wants to bring new experiences to customers, not only for shopping but also for fun, entertainment and family connection.

    A spokesperson for the Japanese Embassy in Vietnam said he hoped Ha Dong Aeon Mall will become a place to provide information about Japanese culture. “And I hope more people in Hanoi come to Aeon Mall Ha Dong to be able to feel a very ‘Japanese’ atmosphere in Hanoi’s heart”.

    The first Aeon mall in Hanoi was opened in 2015. The Japanese group has expanded its network with three others in Binh Duong province and Ho Chi Minh City. Another Aeon shopping mall is under construction in the port city of Hai Phong.

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  • Aeon teams with UK online grocer Ocado to boost online offer

    Aeon teams with UK online grocer Ocado to boost online offer

    Japanese supermarket operator Aeon is seeking to expand its e-commerce arm by hiring British online grocer Ocado.

    Aeon will use Ocado’s technology to set up a new online platform capable of fulfilling national orders to a level of ¥600 billion (US$5.52 billion) in sales by 2030, and ¥1 trillion ($9.13 billion) within the following five years.

    The move is a defense effort against rivals in the territory such as Amazon and Walmart-backed Seiyu as the online grocery market appears poised to expand in Japan, according to a Reuters report.

    Ocado’s software system is the basis of its £8.1 billion ($10.46 billion) market valuation, despite its meagre 1.4-per-cent share of Britain’s grocery market.

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  • Aeon Stores Hong Kong fined over TV sale

    Aeon Stores Hong Kong fined over TV sale

    Aeon Stores Hong Kong has been convicted and fined HKD1200 (US$153) at Eastern Magistrates’ Courts for contravening the Product Eco-responsibility Ordinance (PERO) as a result of not informing a customer about its statutory obligation when selling a television set.

    A spokesman for the Environmental Protection Department (EPD) said the department had received a complaint earlier about Aeon Stores failing to provide him with a free statutory removal service after the sale of a television set. EPD enforcement officers carried out investigations at the store and discovered that when selling television sets, staff of Aeon Stores made a false claim that customers must contact a recycler on their own to recycle their old television sets. In addition, staff of Aeon Stores did not inform customers of the sellers’ obligation to arrange a statutory removal service as well as the relevant terms. After collecting evidence, the EPD prosecuted Aeon Stores for contravening the relevant requirements under the PERO.

    The spokesman emphasised that according to the PERO, which came into effect on August 1 last year, when distributing regulated electrical equipment (REE), sellers must have a removal service plan endorsed by the EPD and proactively inform consumers in writing of the sellers’ obligation to provide a free statutory removal service as well as the relevant removal terms. Moreover, sellers must arrange a free removal service for consumers to dispose of waste equipment of the same type and provide a recycling label as well as a receipt containing the prescribed wording when distributing REE.

    The spokesman reminded all the relevant sellers that they must not make false statements to consumers or deliberately conceal the terms of their statutory removal service with a view to avoiding the relevant legal liabilities. Otherwise, they may contravene the PERO.

    First-time offenders are liable to a maximum fine of HKD5000 to HKD100,000 ($637–$12,755). A maximum fine of HKD10,000 to HKD200,000 ($1275–$25,500) may be imposed on a subsequent conviction.

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  • Aeon Vietnam to build another Hanoi mall

    Aeon Vietnam to build another Hanoi mall

    Aeon Vietnam will invest US$280 million for its third property in the capital city, Hanoi.

    The mall, in South Hanoi, is scheduled to open by the end of next year, according to Aeon executive director and general director of Aeon Mall Vietnam, Yasutsugu Iwamura.

    The Japanese retail giant plans to have 20 malls in Vietnam by 2025. It already has four trading,  in Ho Chi Minh City, Hanoi and the southern province of Binh Duong. Two others are under construction in Hanoi and the northern city of Hai Phong.

    The retailer hopes to have a strategic partnership with Vietnam retailers, increasing sales of agricultural products to Japan through its system.

    It plans to double imports from Vietnam to US$500 million next year, and double again to US$1 billion by 2025.

    Last year Aeon’s imports were worth US$245 million, with clothing accounting for 55 per cent of that figure.

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