Japanese retail giant Aeon Mall to open 5th store in Vietnam in late Nov.

30, Oct. 2019

Aeon Mall Vietnam General Director Yasutsugu Iwamura holds a briefing about the outline of Aeon Mall Ha Dong at a press conference in Hanoi on Oct. 28, 2019. The store is due to open in Hanoi in late November.
Aeon Mall Vietnam General Director Yasutsugu Iwamura holds a briefing about the outline of Aeon Mall Ha Dong at a press conference in Hanoi on Oct. 28, 2019. The store is due to open in Hanoi in late November.

HANOI, NNA - Shopping center developer and operator Aeon Mall Co., a core member of Japan’s retail giant Aeon Co. Group., will open its fifth store in Vietnam in late November as it aims to expand its business there to 20 stores by 2025.

Aeon’s two Vietnamese subsidiaries, Aeon Mall Vietnam Co. and Aeon Vietnam Co., announced the plan at a press conference in Hanoi on Monday. The new mall will be their second in the Hanoi area.

The store, Aeon Mall Ha Dong, will be located in the Ha Dong district, some 10 kilometers west of Hanoi’s city center. It will have four levels above ground and a basement parking area, and a site area of approximately 98,000 square meters, according to a press release by the group. Aeon Mall Ha Dong General Manager Hiroyuki Tanaka said his store expected to attract 13 million customers a year.

The store’s total floor space will be 150,000 square meters, including the parking area, making it one of the largest Aeon Malls in Vietnam. It has a gross leasable area, or the amount of space that is rented by tenants, totaling 74,000 square meters, the second most spacious among Aeon Malls in the country next to the Tan Phu Celadon store in Ho Chi Minh City, whose gross leasable area was expanded to 84,000 square meters this year.

It will accommodate about 220 specialty stores from home and abroad, targeting mainly the families of young working couples. It has a spacious food court with 22 stores and 1,000 seats as well as an entertainment facility, according to the press release. The 78 restaurants will account for about one-third of the total number of stores. The parking area will be able to accommodate 2,100 cars and 9,000 motorcycles.

Aeon Vietnam President Yasuo Nishitoge pointed out Hanoi’s potential as a center of consumption as his firm opens its second store in the capital four years after the first one was set up there. “We will develop together with the community,” he said. The mall will create about 3,000 jobs as a whole.

“Aeon designated Vietnam last year as the top priority country for investment,” Aeon Mall Vietnam General Director Yasutsugu Iwamura said. “We will develop our business by aiming to operate 20 outlets by 2025. Ha Dong is the first step.”

Iwamura added that Aeon Mall Vietnam would spread to provincial cities from the two major megacities. “We have more or less laid out our roadmap of development toward that goal.”

So far the company has opened four malls since the first outlet, Tan Phu Celadon, opened in January 2014. It renovated the Tan Phu Celadon mall by expanding its floor space in June this year. It also plans to open a new mall, “Hai Phong Le Chan,” in the northern city of Hai Phong in the second half of 2020.