Ecosystem Reframe

Although still a household name, retail giant Aeon Malaysia has recently fallen behind as a wave of disruption shakes up the market. But it is back on track with a new vision and an array of exciting plans, says CEO Shafie Shamsuddin.

- Anne Majumdar

NAME : Shafie Shamsuddin

COMPANY: Aeon Malaysia

POSITION: CEO

LOCATION: Kuala Lumpur, Malaysia

For a long time, steady and reliable were qualities held in high regard in the world of business, but in this age of disruption, those qualities seem to have become more of a hindrance. That is why, when Shafie Shamsuddin took the helm as CEO of Asian retail giant Aeon Malaysia, he knew a massive task lay ahead of him.

The company’s roots date back all the way to the Edo Period when the Okada family opened a clothing shop in Japan. In 1984, at the request of the then-Malaysian Prime Minister, it spread its operations and expertise to Malaysia. In the years since, it carved out a strong position in the local market as a bricks-and-mortar player. However, as e-commerce flourished, it started to lag behind.

Having seen the potential of Aeon in Malaysia, Shafie flew to Japan to meet with the seventh-generation Okada family members who still own the business and personally request the post. Then, he spent six months taking a strategic look at the ASEAN region as Chief Strategy Officer before stepping into the top role on 1 January 2020.

By then, he was convinced that the task which lay before him was not to simply address the ecommerce shortfall, but instead to rethink the company as a whole. “The reason I came on board was not to focus on ecommerce or bricks and mortar, but to overhaul the entire ecosystem,” he explains.