Ace Hardware Indonesia, a home furniture and appliances retailer, is investing $25 million this year to finance the expansion of its network. Helen Tanzil, corporate secretary of Ace, said that spending would go toward the opening of 10 new stores this year, or about 25,000 sqm of retail space. The company just o
Ace Hardware Indonesia, a home furniture and appliances retailer, is investing $25 million this year to finance the expansion of its network.
Helen Tanzil, corporate secretary of Ace, said that spending would go toward the opening of 10 new stores this year, or about 25,000 sqm of retail space.
The company just opened its 3rd new store n Makassar, South Sulawesi, tapping into growing consumer demand in that city.
Last month, the company opened 2 new stores in Medan, North Sumatra and in Samarinda, East Sumatra.
About a third of the number of stores are to be opened in Jakarta, with another third in the rest of Java and the remainder outside Java.
Nielsen Indonesia, a consumer research group, reported last week that Indonesian consumer confidence Q4 2013 was once again the highest in the world. It rebounded after falling in the previous quarter due to higher fuel prices.
Strong consumer purchasing power in Indonesia's economy has pushed many companies to expand their reach. Indonesia's economy, which expanded by 5.7% last year, is forecast by the government to expand by 5.8% this year.