ÆON Japan invests in Vietnam

The shopping mall is located in Tan Phu district, which is only 5km away from Vietnam’s largest international airport – Tan Son Nhat – and has just several trading centres.

This mall will target young families rather than wealthy people, says Yukio Konishi, ÆON Mall Vietnam General Director.

Dozens of retailers have entered Vietnam during the past decade, turning it into a competitive market. Some of them were later dissatisfied because their malls have received fewer shoppers than expected.

However, the ÆON representative believes it is not late to invest in Vietnam, saying the economic slowdown is creating investment opportunities for retailers.

According to Yukio Konishi, Vietnam has a lucrative market of approximately 90 million consumers, mostly young, and his group expected to achieve success in the next 10 years after Vietnamese consumers are now more aware of product and service quality.

This investor hopes to attract crowds of Vietnamese shoppers by offering Japanese-style services – a combination of shopping, entertainment and relaxation services.

One third of the displayed products at ÆON Mall Vietnam are made-in-Japan, another one third are locally produced, and the remainder are imported from other countries. Fifty-two entertaining events will be held throughout the year.

ÆON plans to open its second shopping mall in the southern province of Binh Duong in October 2014 and the third in Hanoi in 2015.