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 class. On September 30, MaxValu, a store beloved by many Thais for its affordability and varied…