The Hanoitimes - Japanese retail group Aeon plans to convert franchises into directly managed facilities in Vietnam, for which the number of its locations will triple to 30, said a report by Nikkei Asian Review.
Aeon will be running more indoor theme parks abroad than at home by the end of this decade as it move to taps Asia's expanding population of middle-class families.
Subsidiary Aeon Fantasy has opened 459 indoor theme parks in Japan as of the end of February, which exceeds the 389 locations overseas. But according to the unit's medium-term plan to fiscal 2020, those numbers will reverse in fiscal 2019.
Aeon plans expand across Asia.
Offshore, Aeon Fantasy's reach spans seven countries, with its biggest footprint in China. The plan is to double the number of locations there to 400.
Indonesia locations will nearly quadruple to 57 sites. Not only are there Aeon's standard Mollyfantasy and Kidzoona locations that offer attractions such as arcades, the country's first Finnish-themed Fanpekka amusement center opened up last year.
Aeon Fantasy's presence in the Philippines will double to 81 parks.
To achieve those targets, Aeon Fantasy will open between 100 and 170 locations each year in China and Southeast Asia until the end of fiscal 2020.
The company will differentiate itself from rivals by bringing in toys from Europe, by developing play equipment in house and by offering high-quality original prizes. Japanese-style customer service will also be deployed to cultivate demand, and the company is launching a promotional smartphone app.
Aeon Fantasy first set up shop outside Japan in 2008. By fiscal 2012, offshore openings started surpassing domestic figures. The company looks to earn sales of 250 billion yen ($2.28 billion) in fiscal 2025, with half coming from abroad. Overseas markets accounted for 19% of sales in fiscal 2017.
Arriving in Vietnam in 2009, Aeon Mall opened its first shopping mall in 2014 and have a total of five malls as of now.
Last year, Aeon Mall Vietnam has step up effort in accelerating US$180-million shopping center in Hai Phong. The project, which will cover an area of 9.3 ha on Ho Sen-Rao 2 Road in Duong Kinh District, is expected to be completed roughly 22-24 months after the ground breaking ceremony.
Once completed, the centre is expected to welcome some 13 million customers per year and generate jobs for more than 2,000 workers, contribute to the State budget and assist the development of local small- and medium-sized enterprises.