(Source: Inside Retail Asia | June 12, 2017)
Indoor theme parks are a new focus for Japanese retailer Aeon through subsidiary Aeon Fantasy as it targets growth in Asia’s entertainment sector amid stiffer retail competition.
Over the next three years it seeks to double the number of locations to 660. The mall operator and department store retailer also hopes to boost sales at least tenfold to ¥125 billion (US$1.13 billion) by fiscal 2025.
Aeon Fantasy will open 370 locations abroad in the next three years. That is about 50 percent up on the previous three years. In China, 200 locations will be added to 165 existing ones, and 30 to 45 in Indonesia, Malaysia, Thailand and the Philippines, where the company expanded in 2014.
Aeon Fantasy will open locations in Aeon Group shopping centers and other commercial sites. Its offering includes its coin arcade brand Molly Fantasy to indoor parks like Kidzoona that have experiential equipment like ball pits.
Currently, 27 percent of Aeon’s equipment is exclusive, but it will increase that portion to 40 percent over the next three years.