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Aeon to team up with two leading Vietnamese retailers

Aeon, Japan’s retail giant, said it plans to team up with two leading Vietnamese retailers, Fivimart and Citimart late this year.

Fivimart and Citimart operate a series of 15 and 26 supermarkets, respectively, across Vietnam.

The cooperation is expected to help Aeon to expand its activities to urban and areas in the country’s two most highly developed economic regions.

The plan includes activities to develop products with famous brands and fully tap the source of commodities and build a supply and distribution network, according to Keizai newspaper.

At the initial phase, through the two Vietnamese retailers, Aeon’s will sell its foods and consumer goods under Top Value brand, and then cooperate with businesses in Vietnam to develop products.

The trade link will also help Aeon set up a distribution network of goods and reduce the amount of initial capital outlay while laying the groundwork for its plan to construct a series of shopping malls in Vietnam in the future.

Aeon opened a shopping mall in Ho Chi Minh City in January.

Other foreign retail giants such as Lotte Group of the Republic of Korea and Big C of France also plan to expand their operation in Vietnam.-VNA


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