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Published: Wednesday February 13, 2013 MYT 12:00:00 AM
Updated: Saturday April 20, 2013 MYT 3:41:59 PM

Aeon gears for growth

AEON Co (M) Bhd is optimistic about the growth of its local retail business as it keeps up with and adapts to changing consumer trends and caters to a wide variety of consumer demands.

Managing director Nur Qamarina Chew Abdullah said consumer demand had changed in line with the increase of disposable income, and that it was important to understand these trends in order to use it to the retailers’ advantage.

“As retailers, we are always positive of our prospects as long as we adapt to the changes in consumer lifestyle and demand.

“We have seen various trends emerging from these changes and different segments of the market present different opportunities for us,” she said.

She added that Aeon was always looking for business opportunities in its markets and aspired to be bigger and better every year.

For this year, plans are already afoot to set up a shopping centre in Kulai, Johor, in the second half of the year.

While coy about definitive plans for the shopping centre, Nur Qamarina said capital expenditure for the new mall depended on the investment model and could range from RM15mil to RM300mil.

She added that Aeon Malaysia would continue to look into future plans to bring in other aspects of Aeon Group’s business into the country.

Currently, Aeon mainly carries out its retail and financial services businesses in Malaysia.

“We will see where the synergies are and maybe bring in other Aeon businesses such as wellness and healthcare into Malaysia,” Nur Qamarina said.

In the last two years, the Aeon Group has focused on its Asian expansion.

Aeon Group vice-president and chief executive officer for Asean business Oyama Nagahisa said the Asian retail market was expected to expand enormously to over RM16.78tril (JPY¥500tril) within the next 10 years.

“It is no exaggeration to say that the future development of the Aeon Group depends on its growth in the Asian market,” Nagahisa said that after the group held a welcome ceremony for Aeon’s new employees.

He said that in Malaysia, the group would be expanding its business scope by developing shopping centres in the suburbs in line with motorisation and the rapid expansion of the moderate-income group.

He added that Aeon intended to be the top retail centre in every state that it was present in.

“To function in the regional industry, we need to localise our retail business.

“We need to achieve growth hand-in-hand with the local community. We need to win the local trust in order to succeed,” Nagahisa said.

Aeon recently held a welcoming ceremonies for some 300 new employees in its regional markets.

The ceremonies were held in Malaysia, Thailand, Indonesia, Vietnam and Cambodia simultaneously and Nagahisa reminded the new employees of the group’s unchanging ‘Customer First’ philosophy.

Tags / Keywords: Community, News, Business, Aeon Co (M) Bhd

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