Japanese retailer Aeon opens first central Vietnam mall next week

Japanese retailer Aeon will officially inaugurate the Aeon Hue mall in Thua Thien Hue province, its first in central Vietnam and seventh in the country, next Monday.

With a floor area of 13.8 hectares, the mall will present to Hue residents and visitors various new services and shops, including Japanese retailing brand MUJI, fashion brand H&M and Vietnamese cinema chain Galaxy.

The mall will have a parking area that can accommodate 1,200 cars and 8,000 motorbikes.

Construction of Aeon Mall Hue, with an investment of VND3,916 billion ($167 million), began in February 2023.

Covering an area of 8.6 hectares, it is poised to become the biggest service and trade center in Vietnam's central region, adding value to Hue as a top tourist attraction.

Aeon currently operates six malls in the country – two in Hanoi, one in Hai Phong city, two in Ho Chi Minh City, and one in nearby Binh Duong province.

The 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 VND26,717.6 billion ($1.08 billion), according to provincial data. Food and foodstuff accounted for the biggest portion of VND10,499.7 billion, up 9.5%.