In Malaysia’s rapidly evolving retail landscape, AEON Co (M) Bhd stands as a visionary leader, transforming commercial property management and retail offerings to meet the demands of a dynamic consumer base. Demonstrating agility and market insight, AEON combines data-driven strategies with curated tenant mixes to resonate with local community needs.

With a steadfast commitment to sustainability, community engagement and regional development, AEON continues to redefine the retail experience while contributing significantly to local economies. Its unique ability to blend retail operations with property development positions it as both an anchor tenant and a community builder, fostering thriving retail ecosystems.

AEON’s journey in the country began with a single supermarket in 1984. Since then, it has grown into a diversified retail powerhouse, with the company going public in 1996. From AEON Malls to AEON Stores and AEON MaxValu, the company’s expansive portfolio reflects its ability to innovate and adapt.

“We have evolved beyond just being a supermarket business,” says Lee Beng Beng, AEON’s Chief Property Officer. “Today, we manage 28 shopping malls and 35 anchor stores nationwide, alongside a supermarket chain called MaxValu, plus speciality outlets like AEON Wellness and Daiso. Perhaps even more exciting is the road ahead! Especially for our retail expansion, with our new exciting concept of AEON Retail Ecosystem, which is basically comprised of a central supermarket surrounded by more than 10 brands of AEON Group such as AEON MaxValu Prime, DAISO, Home Coordy, Glam Beautique, Petemo, Kids Republic, Molly Fantasy, AEON Credit Service, La Boheme, AEON Delicatessen and AEON Wellness. A shout out to all developers, property owners and retail planning consultants — when you talk to us, it would be not just for a supermarket or grocer but we are ready to bring some, if not all, of our brands to your property! We can customise to suit the catchment and your development positioning while adding to the trade mix and boosting the property’s value immediately.”

This strategic diversification has positioned AEON as a leader not only in retail but also in property management, where it operates as both a mall developer and a retail anchor tenant. The company’s expertise in curating tenant mixes tailored to community needs has made its malls vibrant hubs for commerce and social interaction.

Recognising the potential in underserved regions, AEON has been making strategic investments outside the bustling Klang Valley. Lee highlights the importance of identifying areas with high population density or growth potential.

A prime example is AEON’s expansion in Seremban 2. “We’re expanding the mall across the road to double its current size, linking it by a bridge to create a regional shopping destination,” says Lee. “This will transform it from a community mall to a regional hub, serving a broader audience.”

Similarly, AEON is pursuing expansion and renovation in Ipoh, where it already operates three malls, with plans to further strengthen its retail presence in the area. For AEON Mall Kinta City, AEON and KIP REIT are set to sign an MoU in early March, marking their agreement for a significant mall expansion.

The company’s upcoming project in KL Midtown is another testament to its innovative approach. Unlike its traditional stand-alone malls, this development will be part of a mixed-use complex featuring office towers, residential units and a five-star hotel. “It’s a unique model for us,” says Lee. “We’re leasing the retail podium from the developer, creating a comprehensive ecosystem that is located amid the affluent enclaves of Mont’Kiara, Hartamas and Dutamas.”

AEON’s expansion is not a solo journey. The company actively seeks partnerships with property developers to co-create thriving townships.

“We’re open to discussions with property owners and landowners,” says Lee. “Whether it’s a 12,000 sq ft supermarket or a 40,000 sq ft retail space or more, we have the flexibility to fit into different development models.”

This collaborative approach allows AEON to tailor its offerings to the unique needs of each community, ensuring long-term success for both the company and its partners.

In the past, by collaborating with property developers and landowners in emerging townships like Rawang and Seremban 2, AEON played a pivotal role in transforming these areas into thriving communities. This model allows AEON to seamlessly integrate retail zones within new developments, contributing to long-term township growth.

“Property developers that are looking to create an ecosystem in neighbourhoods that are growing, we want to be a part of it. This has been a proven method for us to grow, engaging communities over the last 40 years,” Lee says.

At the core of AEON’s expansion strategy is a commitment to community development. The company’s projects are designed to be more than just retail spaces; they are catalysts for local economic growth.

“We build neighbourhoods and townships,” Lee asserts. “Our presence creates employment opportunities and fosters economic activity. We grow with the community.”

This philosophy is evident in AEON’s approach to tenant mix curation and customer engagement. By integrating elements like AEON Living Zone — an integrated ecosystem comprising AEON Group entities and partners — and leveraging technology, the company creates a seamless and engaging shopping experience.

Understanding the diverse needs of Malaysian communities, AEON exemplifies agility by tailoring tenant mixes to match local demographics. For example, in Cheras Selatan, a strategic curation of food outlets with Chinese cuisine led to a significant boost in sales, Lee says.

This data-driven approach ensures AEON remains a dynamic player, capable of adjusting to evolving consumer behaviours across different regions.

AEON’s commitment to innovation extends to its retail concepts. The company is transitioning from traditional department store formats to “shop-in-shop” concepts that offer a more curated and experiential shopping experience.

“We’re capturing the younger generation by creating boutique-style spaces within our stores,” explains Lee. “It’s about staying relevant and trendy while meeting evolving consumer needs.”

This approach is complemented by a strong emphasis on product variety and quality. From La Boheme bakeries offering speciality coffee and desserts to the newly introduced Petemo pet stores and children’s entertainment centre Molly Fantasy, AEON continually enhances its product offerings to cater to diverse customer preferences.

“Our aim is to be the one-stop destination for all of our customers’ lifestyle needs. When they come to our outlets, the mothers can go and shop, the kids can go play, and the fathers can go and drink coffee, all within our own space,” Lee says.

Equally important is AEON’s unwavering focus on customer satisfaction. “Customer first is our guiding philosophy,” says Lee. “Everything we do is centred around meeting the needs of our customers.”

This customer-centric approach is evident in AEON’s emphasis on technology adoption. The rollout of self-checkout counters across its supermarkets has been well-received, with even older customers embracing the convenience.

Charting its road ahead, AEON has a comprehensive mid-term plan extending to 2030. The company aims to grow across all business units, including malls, anchor stores and speciality businesses.

“We’ve mapped out a six-year plan,” says Lee. “We’re exploring opportunities in the northern region, Kuantan and Johor. The Klang Valley remains a focus, but with a different format, primarily building more supermarkets together with its variety of speciality stores.”

This strategic vision underscores AEON’s role as a catalyst for regional development and retail innovation. By partnering with property developers and embracing new retail concepts, AEON is set to shape the future of Malaysia’s retail landscape.

With a clear vision and a collaborative approach, AEON continues to build not just malls, but vibrant communities that thrive and grow together.

Looking ahead, AEON aims to solidify its position as Malaysia’s leading retail operator by reaching more communities, fostering partnerships and driving social and environmental change.

The company’s commitment to innovation, collaboration and community-centric growth ensures that it will continue to be a catalyst for retail transformation in Malaysia.