Japan’s Aeon exits Thai retail to chase Vietnam’s booming middle class
The decision by Japanese retailer Aeon to sell its MaxValu minimart chain in Thailand is the latest example of the tight grip domestic conglomerates hold over Thai consumers, retail experts say. Yet the move also hints at the shifting economic fortunes of neighbouring Vietnam, where major Asian retailers including Aeon are competing aggressively for market share among a rapidly expanding middle…
Aeon, a Japanese retail giant, is exiting the Thai minimart market by transferring its MaxValu chain to Central Retail Corporation. This move, set to happen on September 30, follows years of Central Group's dominance in Thailand's retail landscape, which includes the budget and premium segments. Meanwhile, Vietnam's rapidly expanding middle class is attracting major Asian retailers, including Aeon.
The country currently accounts for about 17 percent of the company's total sales and is projected to become Asia's 11th largest consumer market by 2030.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
