VietNamNet Bridge – Aeon is realizing its expansion plan in Vietnam by holding a 30% stake of Fivimart and a 49% stake of Citimart.
According to Jiji website, the Aeon Group (Japan) has announced the purchase of 30 percent of shares of Fivimart and 49 percent of Citimart, two well-known supermarket chains in Vietnam.
The two Vietnamese supermarkets have not spoken publicly about the deal.
In late 2014, Aeon and Citimart completed business collaboration procedures. It is expected that the new name of Citimart supermarket chain will be AeonCitimart.
Citimart’s Chairman Lam Minh Huy said, after becoming Citimart’s strategic partner, Aeon will help the Vietnamese partner change its management system and develop its brand.
The two sides will also develop sources of goods from Vietnam and Japan for its new stores in the future.
Citimart was formed in 1994, owned by Dong Hung Trade and Service Company Ltd. It currently has nearly 30 supermarkets in six provinces in Vietnam, including Hanoi, Ho Chi Minh City, Hung Yen, Nha Trang, Binh Duong, and Kien Giang.
Fivimart was established in 2007, and is owned by Nhat Nam Corporation. This system includes 18 supermarkets in Hanoi, with a target to have 30 supermarkets across the country by 2020.
Aeon entered Vietnam in 2008. Its first deal was cooperating with Trung Nguyen to open the convenient store chain G7-Ministop.
The investor has poured more than $500 million in two shopping malls in HCM City and Binh Duong and a mall about to open in Long Bien District in Hanoi. Another Aeon shopping center in Binh Tan District in HCM City is expected to open next year.
Besides building large commercial centers with its own brand, Aeon has also joined hands with local businesses to develop distribution systems, like its cooperation with Fivimart in the north and Citimart in the south.
The objective of Aeon is to have 20 shopping centers and supermarkets across Vietnam.
Thu Ly
Japanese retail giant pours capital into two Vietnamese supermarkets Related image(s)
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