AEON accelerates expansion with 10th shopping centre in Vietnam

AEON accelerates expansion with 10th shopping centre in Vietnam

AEON Vietnam will open its 10th shopping centre in the country next month, marking its first medium-sized mall in the Red River Delta.

Tezuka Daisuke, general director of AEON Vietnam. Photo: AEON Vietnam

The AEON Hai Duong Shopping Centre represents the Japanese retailer's continued expansion into Vietnam's fast-growing retail market and its first medium-sized format in the northern region. At a press conference on September 10, AEON Vietnam general director Tezuka Daisuke said the retailer plans to open three more shopping centres in Haiphong, Thanh Hoa, and Quang Ninh in the coming years.

AEON Hai Duong, located in Thach Khoi ward, Haiphong, represents an investment of nearly VND1.2 trillion ($46.3 million) and covers 35,700 square metres.

The opening will bring the number of new shopping centres launched by AEON Vietnam this year to five, the highest annual figure since the Japanese retailer began its retail operations in Vietnam 12 years ago.

“This is the fastest pace of expansion we have ever achieved in the Vietnamese market,” Tezuka said.

AEON Hai Duong is the retailer’s third medium-sized shopping centre, following AEON Tan An Shopping Centre, which opened last year, and AEON MALL Danang Thanh Khe, which opened in July. The format is designed to accelerate AEON’s expansion into regional cities.

The centre is located near a major transport corridor connecting Hanoi with central Haiphong, an area seeing increasing industrial park and residential development. It will target local families, industrial park and office workers, students, and other residents.

The centre will combine AEON-operated retail areas with 37 speciality stores across five categories: food, kids and entertainment, fashion, beauty and wellness, and living.

Photo: AEON Vietnam

AEON opened its first shopping centre in Vietnam in 2014. For much of its first decade in the country, the Japanese retailer focused its expansion on major cities, opening eight shopping centres and stores.

The pace of expansion has accelerated since 2024, with Vietnam now identified as a top-priority market for AEON during the 2026-2030 period.

Tezuka said modern retail currently accounts for less than 20 per cent of Vietnam's retail market, highlighting substantial room for future growth. AEON plans to step up investment, expand its network, and develop a regional retail ecosystem tailored to different markets.

In major metropolitan areas such as Hanoi and Ho Chi Minh City, AEON plans to deploy its full retail ecosystem, including shopping centres, general merchandise stores, supermarkets, small- and medium-sized supermarkets, and speciality stores.

In regional hub cities, the retailer will focus on shopping centres and medium-sized shopping centres, while prioritising large shopping centres in suburban areas.

AEON also plans to expand its private-label products, covering the process from research and development to manufacturing and sales.

“We expect to allocate 60 per cent of our total investment in Southeast Asia to Vietnam. AEON is also deploying human resources from Japan to support the market, while expanding payment services, lending, and cinema operations,” Tezuka said.

The retailer is also targeting a major expansion of its supermarket network. Its supermarket and super supermarket formats are expected to grow from around 40 stores currently to 300 by fiscal 2030.

The company recorded revenue of $624 million last year, 2.5 times the level recorded six years earlier. The company expects revenue to triple and profit to quadruple by 2030, with the longer-term goal of becoming Vietnam’s leading retailer within the next decade.

AEON currently has 25 shopping centres and general merchandise stores, 40 supermarkets, 71 speciality stores, and 182 convenience stores in Vietnam. The group has also entered pharmaceutical retail, operating two pharmacies in Ho Chi Minh City.

VIR