Shunde target of AEON's expansion
Updated: 2006-05-20 07:40
By Lillian Liu(HK Edition)
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Japanese retailer AEON Group plans to open a high-end JUSCO shopping mall in South China's thriving city of Shunde by the end of the year in its latest attempt to take advantage of the strong consumer sentiment on the mainland.
Asia's largest retailer, engaged in general merchandise stores (GMS), will invest 60 million yuan (US$7.5 million) in the mall to capture the mainland's "new breed" of wealthy shoppers with a one-stop shopping service.
An AEON spokeswoman said the company expected to break even in a year or two, and start making profit in four years.
Hong Kong-listed AEON (Hong Kong) will join hands with a Shunde property operator managing the 45,000-square-metre premises which will house the 20,000-square-metre JUSCO shopping mall. The mall is expected to become a leisure hotspot in the Guangdong city where local people can enjoy one-stop shopping.
"With a strengthening grip on the market, backed by our proven business models, experience and dedication to be the best in the retail industry, AEON Stores is poised to capture the immense potential in southern China's retail market", the company said on its website.
"A new feature of our new shopping mall is that it will give car owners a convenient parking space. Shunde is a nice place with many affluent residents," AEON public relations department manager Jenny Chan said.
On the rest of the mainland, the group will focus on creating in its stores an environment that promises convenience and comfort to all customers and continue looking for suitable sites to open new stores, AEON said.
(HK Edition 05/20/2006 page3)