Business

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

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

Thecooperation is expected to help Aeon to expand its activities to urbanand areas in the country’s two most highly developed economic regions.

Theplan includes activities to develop products with famous brands andfully tap the source of commodities and build a supply and distributionnetwork, according to Keizai newspaper.

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

The trade link will also helpAeon set up a distribution network of goods and reduce the amount ofinitial capital outlay while laying the groundwork for its plan toconstruct a series of shopping malls in Vietnam in the future.

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

Otherforeign retail giants such as Lotte Group of the Republic of Korea andBig C of France also plan to expand their operation in Vietnam.-VNA
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