Japanese retailer Aeon opens first central Vietnam mall

Giant retailer Aeon on Saturday inaugurated a shopping mall in Thua Thien-Hue province, its first in central Vietnam and seventh in the country.

Located in the An Van Duong New Urban Area in Hue town, Aeon Mall Hue was built at a cost of nearly VND4 trillion ($170 million). Its construction began in February 2023.

With a floor area of 13.8 hectares, the mall houses about 140 stores featuring famous domestic and international brands, including Japanese retail brand Muji, fashion brand H&M, and Vietnamese cinema chain Galaxy. The mall has a parking area that can accommodate 1,200 cars and 8,000 motorbikes.

At the inauguration ceremony, Phan Quy Phuong, Vice Chairman of the provincial People's Committee, remarked that Aeon Mall Hue is a key project of Thua Thien-Hue in its efforts to promote investment and prepare to become a centrally-managed city (by 2030).

He committed to creating the most favorable conditions for Aeon Mall Hue to operate effectively and push up the attraction of tourists and local development.

Mori Takero, consul general of Japan in Danang, stated that the project contributes to enhancing the "comprehensive strategic partnership" between Vietnam and Japan in central Vietnam.

Ohno Keiji, president of Aeon Mall Co., Ltd., said Aeon Mall is a key subsidiary of Aeon, the largest Japanese retailer. At present, Aeon operates seven malls in the country – two in Hanoi, one in Hai Phong city, one in Thua Thien-Hue, two in Ho Chi Minh City, and one in nearby Binh Duong province.

The giant retailer earned an operating income of JPY1,332 million ($8.44 million) in Vietnam in the first quarter of its fiscal year 2024 (March-May 2024), up 21.9% year-on-year. It recorded operating revenues of JPY4,013 million ($25.42 million) in the three-month period, up 13.8% year-on-year.

Thua Thien Hue’s retail revenue in the first eight months of this year grew 12.1% year-on-year to VND26,718 billion ($1.08 billion), according to provincial data. Food and foodstuff accounted for the biggest portion of nearly VND10,500 billion, up 9.5%.