Japan's largest retailer Aeon opens hypermarket in Myanmar
YANGON, NNA - Japanese retail giant Aeon Co. opened a hypermarket in Myanmar on Friday, seeking to cash in on the growing retail sector in the emerging economy.
Aeon Orange Thanlyin Sakura opened in Yangon, the country's commercial capital, selling home electronics, clothing and other household products in addition to foods being already offered at its existing 14 supermarkets.
The 2,800-square-meter store, Aeon's first hypermarket in the region, is triple the size of those supermarkets, according to an Aeon statement released Friday.
Aeon Orange Co., its local joint venture, was established in 2016 with local retailer Creation Myanmar Group of Companies and took over the 14 supermarkets in Yangon and Mandalay that had been run by Hypermart Asia Co., an affiliate of the partner.
The hypermarket houses a roughly 200-sq-meter home appliance sales space, the largest level in the Yangon area, while providing shoppers with financing via Aeon Microfinance (Myanmar) Co.
The new store also offers local dishes, salads and desserts at a 70-sq-meter dining area. It is planning to introduce a bakery shop at the outlet, the statement said.
“There is further room to increase the number of stores in Myanmar as the country is still short of modern retail space,” Masayasu Isozaki, general manager of administration at Aeon Orange, told NNA.
Aeon has been strengthening its foothold in Southeast Asia by expanding its store network, including large shopping malls and supermarkets in Cambodia, Indonesia and Vietnam, among other nations in the region. The number of stores in the region totals 74, Aeon said.
The Japanese retail group's operating profit earned outside Japan accounted for 16.8 percent of the total in the business year to February and it is trying to boost the ratio by stepping up business in Asia. (NNA/Kyodo)