Vietnam
Malaysia
AROUND THE REGION
Vietnam
After 10 years , Japan ’ s Aeon seems ready to conquer Vietnam ’ s regions Japanese retail giant Aeon is planning to move into regional towns a decade after making its debut in Vietnam , as part of its renewed commitment to its second-largest international market .
The company , which is having trouble growing in its home market , is increasing its investments in Southeast Asia , particularly in Vietnam and Cambodia . In 2014 , Aeon made its debut in southern Vietnam in Ho Chi Minh City . The company selected Tân Phú Celadon , a suburb that is primarily inhabited by local Vietnamese , 5km from the city centre .
Aeon has opened six malls in Ho Chi Minh City , nearby industrial province Binh Duong , and the capital Hanoi this year and it is expanding into areas with less affluent customers , confident in the structural integrity of its localised offering .
Vietnam has become one of Aeon ' s most important markets after Japan , and in addition to physical stores , the company plans to increase its e-commerce services this year , which were relaunched last October . Aeon also plans to boost its revenue by 20 per cent this year and another 50 per cent " in the following years ".
Malaysia
South Korea ’ s Ediya Coffee expands into Malaysia South Korean coffee chain Ediya Coffee has expanded its footprint in Malaysia , via a master franchise agreement with a consortium of local food service companies and distributors .
A master franchise is a business strategy where , instead of expanding directly into a new country , a company partners with a local business and grants individuals the right to open and run their franchises in that area .
The local partner , which was not disclosed , intends to build three stores this year and extend the network to 200 locations around the country over the next five years .
The firm will deliver coffee beans and raw materials from its South Korean plant , and it intends to offer menus that cater to local tastes .
8 www . insideretail . asia August 2024