AEON Accelerates Vietnam Expansion with Four Malls
AEON is accelerating its expansion in Vietnam with four new shopping centres set to open in 2026, part of a broader strategy to triple its business scale and establish a nationwide network of 300 stores by 2030. The group plans to allocate approximately 60 per cent of its total ASEAN investment capital to Vietnam, positioning the country as a priority market under its Medium-Term Management Plan for 2026-2030.
This marks the fastest expansion pace in AEON Group’s operations in Vietnam, according to executive officer and chief Vietnam Business Officer Tezuka Daisuke, who cited the country’s strong development and shift toward modern lifestyles as key drivers. Since entering Vietnam’s retail market in 2014, the group has grown to operate nine shopping centres, 16 general merchandise stores and supermarkets (GMS), 40 supermarkets, 182 convenience stores, 71 speciality and service stores, and two drug stores as of August.
Strategic Expansion in Vietnam
The new developments, AEON Danang Thanh Khe, AEON Hai Duong, AEON Thanh Hoa, and AEON Halong, will span northern, central, and north-central regions, bringing modern retail facilities closer to communities. AEON Thanh Hoa, scheduled to open in October, will serve as the group’s 13th GMS, offering shopping, dining, and lifestyle services. AEON Halong, opening in November, will be the 14th GMS and feature a “One-stop Destination” concept, combining shopping, dining, entertainment, and lifestyle services to support Quang Ninh’s growing tourism economy. These projects reflect the company’s focus on Vietnam’s young population, expanding middle class, and rapid urbanisation.
The multi-format model enables expansion across markets with varying economic scales, population densities, and consumer needs. By developing commercial hubs alongside emerging urban areas, the group avoids waiting for local markets to fully mature. This approach aligns with Vietnam’s demographic trends and infrastructure growth, ensuring retail facilities evolve in tandem with community development.
Multi-Format Retail Model
The portfolio includes dedicated brand zones like Mycloset for fashion, Glam Beautique for beauty and wellness, Hóme Cóordy for home living, and Kids Republic for children’s products, all within AEON Halong. The integration of physical and online shopping services further enhances customer convenience. Beyond retail, it is investing in membership schemes, entertainment, drug stores, and other services to expand its ecosystem. The company is also growing its private-brand products manufactured in Vietnam and promoting domestic goods through its global network, working with suppliers to improve quality and competitiveness.
