Aeon is preparing for a massive expansion in Thailand with aims to develop a mega project in central Bangkok. There is also an ambitious plan to expand the number of MaxValu supermarket outlets already in the works.
The company wants to develop three major retail models in central Bangkok which include increasing the number of MaxValu supermarkets found in the area, a mega project and the introduction of speciality stores, managing director Masamitsu Ikuta told The Bangkok Post.
A total of 50 new MaxValu stores will open during the next few years taking the number of MaxValu stores in Thailand to 130, according to the newspaper. Three MaxValu supermarkets and five MaxValu Tanjai stores are expected to open this year.
Aeon is also looking to build a mega project in Bangkok to help it compete with The Mall Group and Central Group who already have a large footprint in the area. The company believes more foreign tourists will head to Thailand with the Asean Economic Community going into full effect and sees an opportunity for success.
A location for the project has yet to be determined and Aeon continues to look at land plots that fulfill its needs. The company is hoping to open the project sometime in 2018, The Bangkok Post added.
The development will be roughly 200,000 to 300,000 sqm and early estimates put the project’s cost at THB6 billion.
“The new retail megaproject will have the same image as Aeon in Japan,” Ikuta stated. “We want this shopping complex to be able to complete with inner-city retail megaprojects such as Siam Paragon, CentralWorld and The Emporium.”
Other plans from Aeon include the opening of several speciality stores during the next five years. These stores include shops that focus on niche products such as bicycles, cosmetics and pet food in Thailand. The first two speciality store brands are expected to launch in 2017 with more to follow.
Image: Aeon Mall in overseas
