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Japan’s Aeon to open 4th megastore, eyes expansion in Vietnam

Japanese retail giant Aeon has revealed an ambitious plan for Vietnam, where the retail market is forecast to grow nearly 12 percent a year to around US$179 billion in 2020.

Under the plan announced at a press conference on Tuesday, 20 megastores of the chain Aeon Mall in be opened in Vietnam, local media reported.

Since its arrival in 2014, the retailer has opened three megastores into Vietnam and the fourth is scheduled to be opened in Ho Chi Minh City’s Binh Tan District this July.

Aeon also plans to have 100 supermarkets around the country through mergers and acquisitions, Nguoi Lao Dong newspaper said. It now runs 30 Aeon Citimart supermarkets, after acquiring a stake of 49 percent in local retailer Citimart in 2014.

The company also plans to collaborate with local manufacturers to produce consumer goods under its brand Top Value for both the Vietnamese and overseas markets, according to the newspaper.

Vietnam’s retail sales rose 10.6 percent from 2014 to VND2,469 trillion ($109.4 billion) last year, according to official figures.

(Source: Thanh Nien News)

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