Vietnam's Citimart supermarkets will be rebranded to "AEON Citimart", as
collaboration between the local and Japanese retailer deepens.
Partnership will provide competitive edge for Citimart
This news builds on the partnership between AEON and domestic retail chain Citimart which began with the announcement that these stores would sell AEON Topvalu private label products - read the story here.
At present, AEON does not own a stake in the Citimart business, but with its name now above the door of stores, this is likely to follow. In an interview with Tuoi Tre News, the Chairman of Citimart's parent company said "We had been seeking cooperation that can create the difference for Citimart stores to compete with other domestic and international retailers". It has ambitions to open 500 stores by 2025.
AEON building Vietnamese market footprint
AEON recently opened its second shopping centre in Binh Duong, a suburb of Ho Chi Minh City, where it hopes to attract one million visitors per month. The retailer has adapted its strategy from its first opening in January, which targeted affluent, urban shoppers. At Binh Duong, AEON aims to attract a broader range of shoppers, with fewer designer brands and an increased level of private label grocery products.