Indonesia news

11 October 2017
Lotte and Indonesian conglomerate Salim Group have officially launched their ecommerce joint venture iLotte, managed under PT Indo Lotte Makmur. The two firms have committed a US$100m budget to the project. Differentiate with authentic products Customers can shop on iLotte for branded products in fashion, food and even automobiles from Lotte Avenue and Lotte Mart, Lotte's shopping mall and ...
04 October 2017
AEON has opened its second mall in Indonesia that focuses on entertainment and food. We review the impact and consequences of a slight shift to AEON's shopping mall strategy. New interactive direction... Well known for developing shopping malls, Japanese conglomerate AEON opened their first mall in Indonesia back in 2015. Two and a half years later, they have now opened their second mall in...
18 September 2017
MPPA, the leading Indonesian multi-format retailer, has appointed William Travis Saucer as its new CEO, who will serve with immediate effect for a period of twelve months. Experience from JC Penney and Saks Mr. Saucer brings more than 37 years of retailing and management experience both in the United States and in Indonesia. Mr. Saucer began his professional career in 1973 with JC Penney an...
08 September 2017
Abu Dhabi-based hypermarket chain, LuLu, has opened its second store in Indonesia, south-west of Jakarta in Serpong, Tangerang, Banten. Further expansion expected... LuLu opened their first hypermarket and department store in Cakung, East Jakarta, last year. This was part of their $500 million investment commitment in Indonesia, spread over the next three years, with plans to open 10 new st...
18 August 2017
Alibaba has reported a revenue of US$7.4bn, a 56 percent increase year over year, and  a net income of US$2.07bn, which almost doubled from last year. The company also confirmed a US$1.1bn investment in Tokopedia. 12 million new active users Alibaba reached 466 million annual active users on its China retail marketplaces, a 12 million increase from the 12-month period ended March 31, 2017. ...
01 August 2017
Sales for the first half 2017 dropped 3.0% year-on-year to IDR6.7tn (US$0.5bn), as same store sales growth was negative. Fresh Foods and grocery division has posted positive growth of 2.5% and 0.7% respectively while sales of electronics and household categories were weaker. Despite the relatively flat sales environment, gross profit margin and operating costs are expected to improve because o...
31 July 2017
Sales in the Food business declined by 6% to IRD 5,879 bn (US$441m) , but the non-Food businesses, grew 12% to IDR 1,045bn (US$78m). Gross profit was up 3%. Initiatives to increase sales in Food In the Food business, the Company rolled-out an everyday low price initiative to provide better value to customers which has started to deliver an improvement in sales. Further initiatives to increa...
30 June 2017
Modern Sevel, the operator and franchise holder of the 7-Eleven convenience stores in Indonesia, has closed all of its stores across the country. The background... In 2015, the company wanted to use the franchise as a growth engine to reach more than ten times their current network to 2,500 stores by 2025. However, they have struggled to maintain profitability and found it difficult to comp...
06 June 2017
Modern Sevel Indonesia, which operates 7-Eleven convenience stores in Indonesia, cancels the sale of the chain due to "non-agreement of the parties concerned". Challenging times ahead CP Indonesia is an affiliate of CP All, which operates more than 9,500 7-Eleven stores in Thailand. Its plan to buy 7-Eleven stores for US$75 million would have brought much needed funds and expertise for the ...
05 May 2017
Dairy Farm International has posted mixed results in Q1, with sales slightly lower than the same comparable period in 2016. Trading conditions steady... For the first quarter, Dairy Farm has reported increases in sales and operating profits for their divisions and associates; Health & Beauty, Home Furnishings, Maxim's and Yonghui associated. However, this was offset by weak sales in their ...