Japan’s Aeon Mall has announced plans to expand its presence in Indonesia and Vietnam, and is also looking to expand into Laos, Myanmar and Thailand, reports Nation Multimedia.
According to the news site, Aeon is planning to open five more malls in Jakarta, Indonesia, and another three branches in Ho Chi Minh City and one in Hanoi, Vietnam.
The expansion is part of its 2020 strategy, which will also include a study into the feasibility developing its business in Thailand, Laos and Myanmar.
"By 2020, we hope to have more than 10 per cent of our revenue contributed by overseas business, up from 2 to 3 per cent now,” Mitsugu Tamai, director and executive general manager for Aeon Mall Asean division, told Nation Multimedia.
“Due to aggressive outlet expansion, the company aims to see a 120-per-cent year-on-year increase in terms of revenue from overseas markets.”
Tamai said Aeon was hoping to open its first Aeon Mall in Thailand by 2020, most likely in the outskirts of Bangkok, and is also looking to expand its business in China where it operates 11 malls.