INSIGHTS
Swedish fashion retailer Hennes & Mauritz (H&M) opened its first store in Indonesia at the Gandaria City Mall in south Jakarta on Oct 5. The company said in a statement that it sees strong potential for the retail market in this economy, Southeast Asia's largest. Sanveer Gill, Country Manager of Hindo, H&M's franch
H&M opens first store in Indonesia
Date: 2013/10/14
Source: Jakarta Globe
Swedish fashion retailer Hennes & Mauritz (H&M) opened its first store in Indonesia at the Gandaria City Mall in south Jakarta on Oct 5. The company said in a statement that it sees strong potential for the retail market in this economy, Southeast Asia's largest.
Sanveer Gill, Country Manager of Hindo, H&M's franchisee in Indonesia, said, "It is exciting to have the opportunity to bring the Indonesian customers diverse fashion. We see great potential for H&M to expand in Indonesia." The retailer indicated that a second store will open at the Pondok Indah Mall, also in south Jakarta.
According to the Ministry of Trade, 2012 bilateral trade between Indonesia and Sweden nearly reached US$1.5 billion. Another Swedish player, power and automation company ABB, also announced plans to invest in two power plants in Java, at $25 million each.