Aeon Mall plans for growth in ASEAN

Japan's Aeon Mall is embarking on an aggressive 2020 growth plan. The core of its strategy is to increase its revenue contributed by overseas business from 2-3% to 10% by 2020.

“With aggressive outlet expansion, the company aims to see a 120% year-on-year increase in terms of revenue from overseas markets,” said Aeon Mall’s ASEAN division director and executive GM, Mitsugu Tamai.

The group is looking to expand in Indonesia and Vietnam, as well as venture into Laos, Myanmar and Thailand. In the plan are five more outlets in Jakarta, three more in Ho Chi Minh City and one more in Hanoi.

It launched the first Aeon Mall in Indonesia last year. Aeon currently operates 24 malls in Malaysia, 11 in China and one in Cambodia.

For its additional outlet in Cambodia, it is partnering with Major Cineplex Group. The new mall is slated to open in the first half of 2018.