Aeon (M) diversifies into furniture, electronics

[KUALA LUMPUR] Aeon Co (M) Bhd, the Malaysian unit of Japan's largest retailer, is diversifying into furniture and electronics stores as competition from new shopping malls intensifies.

Aeon Malaysia doesn't have a mandate to expand regionally yet and is focused on enlarging its domestic operations, executive director Poh Ying Loo said in an interview in Kuala Lumpur earlier this week. The company operates shopping centres, department stores and pharmacies in the country.

"Competition, changing consumer market behaviours all warrant this kind of evolving change," Mr Poh said. "Retail industry is actually very competitive. There's an ample increase in retail space in the last one year and it's going to increase further in the next two or three years."