Retailer AEON Vietnam on October 2 opened its AEON Van Giang General Merchandise Store (GMS) in Hung Yen Province, its 11th department store in the country since entering the market in 2014.

The two-storey facility, located at Vincom Mega Ocean City, spans more than 7,550 square meters and provides retail services to residents and visitors in Hung Yen and neighboring areas.

Situated east of Hanoi, the store links the capital with northern localities such as Haiphong, home to many corporate headquarters and factories.

Speaking at the press conference on October 2, AEON Vietnam’s CEO Tezuka Daisuke said the store is expected to play an important role in the company’s retail network, benefiting from population growth and infrastructure development in the Red River Delta.

 “We expect the local population here to grow sixfold in the next five years, which will support economic development in the suburban areas of Hanoi and nearby provinces,” he said.

Tezuka told The Hanoi Times that AEON Long Bien in Hanoi currently records the highest sales in its global retail network, and the company expects the Van Giang store to become one of its strongest performers in the coming years.

According to AEON, Vietnam is its second most important market after Japan, with annual revenue growth of around 30% in recent years. The company estimates that modern retail channels account for only about 12%-15% of the domestic market, leaving what it sees as “significant potential for expansion.”

Since 2014, AEON has invested about US$1.5 billion in Vietnam and plans to double that figure over the next decade.

It currently operates eight shopping malls, 15 department stores and supermarkets, 45 medium and small supermarkets, 182 convenience stores and 29 specialty stores, with three more outlets scheduled to open before the end of 2025.