fbpx

Japan retailer Aeon opens hypermarket in Thanlyin


Japanese retail giant Aeon Co opened a hypermarket in Thanlyin township, Yangon Region, on Friday, seeking to cash in on the growing retail sector in Myanmar’s emerging economy.

The Aeon Orange Thanlyin Sakura opened in the country’s commercial capital, selling home electronics, clothing and other household products in addition to the food already offered at its 14 supermarkets.

The 2800-square-metre store, Aeon’s first hypermarket in the region, is triple the size of its supermarkets, according to an Aeon statement released Friday.

Aeon Orange Co, its local joint venture, was established in 2016 with local retailer Creation Myanmar Group of Companies and took over the 14 supermarkets in Yangon and Mandalay that had been run by Hypermart Asia Co, an affiliate of the partner.

The hypermarket houses a roughly 200-sqm home appliance sales space, the largest in the Yangon area, and offers shoppers financing via Aeon Microfinance (Myanmar) Co.

The new store also offers local dishes, salads and desserts in a 70-sqm dining area. It also plans to open a bakery, the statement said.

“There is more room to increase the number of stores in Myanmar, as the country is short of modern retail space,” Masayasu Isozaki, general manager at Aeon Orange, told Japanese news agency NNA.

Aeon has been strengthening its foothold in Southeast Asia by expanding its network, including large shopping malls and supermarkets, in Cambodia, Indonesia and Vietnam, among other nations in the region. The number of stores in the region totals 74, Aeon said.

The Japanese retail group’s operating profit earned outside Japan accounted for 16.8 percent of the total in the fiscal year to February, and it is trying to boost that number by stepping up business in Asia.

Source: Myanmar Times

To see the original article click link here

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, “Puma Energy”, “MOGE”, “yangon new town”,”MECTEL”, “hydropower”, etc.

.

Looking for foreign investors to invest in your business in Myanmar