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Tag: jakarta

  • Ted Baker appoints new Indonesian distributor

    Ted Baker appoints new Indonesian distributor

    The MENA deal is actually an extension to the current retail agreement Ted Baker has with Al-Futtaim Group but adds in new e-commerce and wholesale rights for the region. The all-new 10-year Indonesia dealx has been signed with PT Mitra Adiperkasa (MAP) for the retail license.

    The fellow-10-year Al-Futtaim agreement now means MENA will be Ted Baker’s first full omnichannel territory operated by a license partner. The complete integrated package across retail, digital and wholesale channels “is a key pillar of the group’s three-year transformation plan… which is designed to deliver a more profitable, more cash generative and higher return on capital employed business”, Ted Baker said.

    Al-Futtaim currently operates 24 Ted Baker stores and concessions across Bahrain, Egypt, Qatar, Saudi Arabia, and UAE. The addition of e-commerce and wholesale rights will aim to further strengthen the customer experience of the brand in the region, they said. Specific benefits to customers will include alignment of pricing and promotions across channels, and an improved e-commerce proposition with shorter delivery times, and ship-from-store and click-and-collect services.

    Meanwhile, under the terms of its retail and selective digital rights agreement, MAP has “committed to an ambitious store and concession opening plan and will sell via selective online platforms in Indonesia”. This expanded distribution will build brand awareness in the Asian region alongside the five other license partners and the group’s China JV, Ted Baker noted.

    Following these new license agreements, Ted Baker will have 17 retail license partners and 20 product license partners across the globe.

    Helen Costello, Group Commercial and Business Development Director at Ted Baker, said: “Having worked with the Al-Futtaim team for many years, we know they have an excellent understanding of Ted Baker and our customers. Al-Futtaim’s experience also means that they are particularly well-placed to fully realize the significant growth potential from the accelerating consumer shift to online channels in the region”.

    She added: “MAP is the leading retail expert in Indonesia, and they have the right team and experience in place to build on the strong foundations that are already in place. It is a testament to the strength of our brand that we continue to partner with the leading experts in their relevant categories across the world”.

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  • Bank Permata CEO to Head Indonesia’s New Wealth Fund

    Bank Permata CEO to Head Indonesia’s New Wealth Fund

    The fund, which currently has around $15 billion in assets, is targeting to grow to $100 billion.

    Ridha Wirakusumah, who has been CEO Indonesia’s Bank Permata since 2017, will become the chief executive officer of the country’s new strategic development sovereign wealth fund, the Indonesia Investment Authority said in an announcement on Tuesday.

    Wirakusamah has held a number of leadership positions in his career, including president and CEO of AIG Consumer Finance Group Asia, Asia Pacific president and CEO at AIG, president CEO for AIG Finance (Hong Kong), head of corporate finance at Banker Trust Indonesia, APAC CEO at General Electric and head of banking at GE Money Asia.

    We want INA to reduce the gap in domestic funding needs and development financing, and provide development financing, especially for national infrastructure,» Indonesia President Joko Widodo said in a briefing on Tuesday.

    The Indonesia Investment Authority’s slate of executives includes Arief Budiman, a former director of oil and gas giant Pertamina, who will serve as deputy CEO. Also joining the fund is Stefanus Ade Hadiwidjaja, previously with private equity firm Creador Capital Group, who will be director of investment.

    Marita Alisjahbana of Citibank Indonesia will be director of risk, while Eddy Porwanto, formerly the chief financial officer of flag carrier Garuda Indonesia, joins as director of finance, the announcement said.

  • Indonesian retail sales fell 16.3 per cent in November

    Indonesian retail sales fell 16.3 per cent in November

    Retail sales in Indonesia dropped 16.3% year-on-year in November following a 14.9% fall a month earlier, a central bank survey showed on Tuesday.

    Sales of telecommunication types of equipment and other household goods contracted in November, the survey showed.

    The survey also forecasts an even deeper contraction of 20.7% in December.

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  • Pomelo store lifts off in Jakarta

    Pomelo store lifts off in Jakarta

    Omnichannel fashion retailer Pomelo has launched in Indonesia with its first store at Central Park Mall, Jakarta.

    The new store features a new design with an entirely different interior layout and looks to stores elsewhere in Southeast Asia.

    Pomelo Indonesia also embraces sustainability concepts, with sustainably-produced components used in the fit-out and 90 percent of waste produced in-store every day recyclable.

    Beside its usual range, the store shows off exclusive collections, including the collaboration with Thai designers Milin Yuvacharuskul and Pomelo’s collaborative collection with Barbie.

    Pomelo also implements its Tap Try Buy, a rebranded iteration of its Pomelo Pick Up service, at the Jakarta store, allowing customers to shop online and try on at a preferred location and only pay for what they want to keep.

    “We look forward to expanding our offline footprint to even more customers across Indonesia over the coming months,” said Anders Heikenfeldt, chief retail officer at Pomelo.

    The launch is part of the company’s retail expansion plan in Southeast Asia. The first Malaysian store is scheduled to open next year.

  • Indonesia retail sales drops with 15 procent last October

    Indonesia retail sales drops with 15 procent last October

    Retail sales in Indonesia dropped 14.9% on a yearly basis in October, the biggest fall since June and after an 8.7% fall in September, according to a central bank survey released on Thursday.

    Sales of food, beverages and tobacco products contracted in October, after recording positive growth a month earlier, while a drop in sales of communication equipment accelerated, the survey showed.

    The survey estimated an even deeper slump in retail sales of 15.7% in November.

  • Indonesian beauty retailer Sociolla lands in Vietnam

    Indonesian beauty retailer Sociolla lands in Vietnam

    Beauty technology company Social Bella announced its first overseas expansion with the launch of the beauty e-commerce platform Sociolla in Vietnam.

    Demand from beauty enthusiasts in Vietnam was one of the company’s considerations, following a US$58 million funding from investors, such as Singaporean state investment fund Temasek and its private equity subsidiary Pavilion, alongside Singaporean venture capital firm Jungle Ventures.

    The beauty and self-care market in Vietnam has stayed robust and adaptive amid the COVID-19 pandemic, a website on cosmetics and the personal care industry. The beauty sector in Vietnam has seen rapid growth in online sales.

    Christopher Madiam, cofounder and president of Social Bella, said the company was excited to expand its market internationally. “As one of the fastest-growing beauty and self-care markets in Southeast Asia with a population of a digitally literate young generation, Vietnam bears a resemblance to Indonesia,” Christopher said in a statement. “We’re certain that Vietnam is the right country for our first international expansion.”

    John Rasjid, cofounder and CEO of Social Bella, said the company intended to provide access for Indonesian beauty brands to consumers abroad through the expansion. “We’ve witnessed how local beauty brands are getting innovative in releasing quality yet affordable products that can compete with international products,” John said. “With the expansion, we’re not only opening distribution access, but we’re also giving comprehensive support to ensure that their products receive a warm welcome in Vietnam. We are collaborating with a number of our local partners to support a holistic business growth plan in Vietnam.”

    ESQA is among the Indonesian brands Sociolla brings to Vietnam. Cindy Angelina, the cofounder of ESQA Cosmetics, said the firm was proud to be part of the expansion. “We’ve experienced significant growth since joining Sociolla in April 2017. Hopefully, this success will continue in Vietnam,” Cindy said.

    Established in 2015, Social Bella has several business units, including offline stores under the Sociolla brand, Beauty Journal, and Lilla by Sociolla. In July, the company appointed renowned Indonesian make-up artist Archangela Chelsea as the makeup director of Sociolla.

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  • New Wealth to Grow Distribution in Indonesia

    New Wealth to Grow Distribution in Indonesia

    The Singapore-based digital wealth engagement solutions provider has its sights on the retail and affluent banking segments in Indonesia.

    New Wealth has inked a strategic partnership with digital engineering firm HAXtech to distribute its solutions to banks, insurance, and fintech firms in Indonesia, the company announced in a press release on Friday.

    The partnership promises improved market access, faster project delivery, and enhanced in-country client support, New Wealth said in the announcement.

    CEO Löic Pitrou said the company is currently expanding its ability to deliver multiple digital finance projects in Indonesia to support the fast-growing digital savings and wealth management sector there.

    Pitrou, a digital finance strategy and Robo-advisory specialist, founded New Wealth company in 2018. Its senior management team includes head of the experience lab Sudhir Nain and chief technology officer Simon Mazas. The company provides sales and advisory tools and applications for both relationship managers and self-directed investors.

    Its clients and partners include Commonwealth Bank, Standard Chartered, Morningstar, Eastspring, and Savio, according to its website.

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  • June Indonesian retail sales down again

    June Indonesian retail sales down again

    June Indonesian retail sales fell 17.1 percent over the same month last year – but that decline was slower than during the previous month.

    According to data from the country’s central bank, retail sales fell by 20.6 percent in May, as the Covid-19 pandemic forced store closures and consumers stayed home.

    Sectors to show improvement were food, beverages & tobacco, along with communication services.

    The Bank Indonesia is expecting the decline in Indonesian retail sales to further slow in July, to 12.3 percent.

  • Jakarta-based cafe chain Maxx Coffee launches in Singapore

    Jakarta-based cafe chain Maxx Coffee launches in Singapore

    Indonesian cafe chain Maxx Coffee has launched its first international outpost in Singapore as the first move towards expansion in Asia.

    Partnering with local operator Oue Restaurants, the new outlet opens today at Jem serving Indonesian single-origin coffee as well as a food selection and the brand’s signature beverages.

    “After 80 successful outlets in 23 cities across Indonesia, our goal remains consistent; to provide a social canvas fit for modern coffee lovers to create meaningful moments over great coffee,” said Oue Restaurant CEO Brian Riady.

    “With the burgeoning third-wave coffee culture in Indonesia and the rising global popularity of Indonesian coffee and coffee culture, Maxx Coffee is ripe for the picking.”

    “Maxx Coffee serves more than just a daily cuppa,” said PT Maxx Coffee Prima CEO Mehdi Zaidi. “Designed to cater to the modern coffee lover’s lifestyle, our outlets are a mix of co-working spaces that enable an exchange of ideas, booths to spark conversations and cosy corners for anyone who wants a quiet space to enjoy a book.”

    The new outlet’s interior features a light wood decor with an open espresso bar and food counter.

    The majority of Maxx Coffee’s specially sourced roasts are single-origin grade 1 Arabica coffee beans from Brazil Cerrado, Sumatera Lintong, Java Ciwidey, and Aceh Gayo.

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  • Indonesia’s Fabelio raises US$9 million for future expansion

    Indonesia’s Fabelio raises US$9 million for future expansion

    Indonesian online furniture retailer Fabelio has raised US$9 million in a Series-C funding round led by Taiwanese venture firm AppWorks.

    The investment now boosts Fabelio’s total funding above $20 million, with the firm on track to closing the funding round by the end of the year, with a public offering scheduled for 2022.

    “We have not decided on the destination for the IPO,” a source from Fabelio said, “but the main consideration is the scale of the business. Of course, we will consider raising from private markets as well”.

    Other investors participating in the round are Endeavour Catalyst and MDI Ventures, backed by Telkom Group, as well as Aavishkaar Capital.

    The new funding will assist in the firm’s expansion push by bolstering its supply-chain network with further logistics hubs and experience centres.

    “Our main focus will be to improve our product categories and improve delivery times,” said Fabelio co-founder and CEO Marshall Tegar Utoyo

    “Additionally, we are seeing more US and Chinese companies are setting up operations in Indonesia, opening up opportunities for global trade and manufacturing. These market trends, combined with their efforts, will enable us to win a larger market share in this exciting $6.7 billion home furniture market in Indonesia.”

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  • Retail sales in Indonesia drop dramatically

    Retail sales in Indonesia drop dramatically

    Retail sales in Indonesia have fallen by 16.9 percent during the month of April compared to last year, according to government data.

    The drop is the steepest within the territory in 14 years and is the result of a steady decline in retail sales of a range of products surveyed by the Indonesian central bank.

    The decline is 4.5-per-cent deeper than comparable figures for the previous month, while retail sales in Indonesia declined by a more modest 0.8 percent during February.

    Even worse figures are expected for May, however, as the advent of Covid-19 saw people forced to implement social distancing.

    The Bank Indonesia now predicts sales figures to show a heavy 22.9-per-cent fall in volume year on year for last month.

  • Indonesian retail sales down last February

    Indonesian retail sales down last February

    Indonesian retail sales declined by 0.8 percent year on year during February.

    The drop was brought about by a decline in demand for clothing, as well as a blanket downturn in recreational spending, according to the monthly Bank Indonesia survey.

    The sales decline occurred as the Indonesian administration was claiming zero cases of the Covid-19 coronavirus had been reported in the country. Indonesia announced its first confirmed case in March, and is currently approaching 3000 infections.

    Sales figures in the territory have been falling since last December, which yielded a 0.5 percent decline in Indonesian retail sales. Trading figures in January contracted 0.3 percent.

    The central bank’s survey predicted March Indonesian retail sales will contract further, with a year-on-year drop of 5.4 percent in key categories.

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  • Indonesia AirAsia’s growth halted due to coronavirus and economy

    Indonesia AirAsia’s growth halted due to coronavirus and economy

    Indonesia AirAsia has been forced to halt its growth plan for this year, as a result of the coronavirus pandemic and economic challenges faced by Indonesia.

    The plan for 2020 was for the low-cost carrier to increase its market share by adding three new aircraft and launching new services, having recorded a 28% growth in revenue for 2019 as compared to 2018, says parent company AirAsia Indonesia.

    The viral outbreak has led to travel restrictions imposed by neighboring countries and is affecting the demand for domestic and international air travel. AirAsia Indonesia says that Indonesia’s “economic situation has become more challenging”, noting that the exchange rate for rupiah against the dollar is now at more than Rp16,000 ($0.97), and it continues to fluctuate.

    “By considering these factors carefully and deeply, the company is forced to suspend international and domestic flights until the situation improves, and demand for air travel picks up. The measure will certainly have a significant influence on the company’s operating and financial performance in the first half of 2020,” says AirAsia Indonesia.

    Indonesia AirAsia suspended operations on 1 April. Domestic flights are suspended until 21 April and international flights until 17 May.

    Meanwhile, AirAsia Indonesia’s plan to resume trading on Indonesia Stock Exchange (BEI) by offering new shares to the public was also affected, although it did not offer any other details.

    It was suspended from trading in August 2019 for not complying with BEI’s requirement for a company to have at least 7.5% of its paid-in capital available as free float in order to remain listed. As of 29 February, it only had 1.6% of shares available for trade.

    AirAsia Indonesia’s priority for the group over the next six months is to reduce its operating cost base by renegotiating with suppliers and key stakeholders, and to ensure that it can continue to operate during this period, it says. This will then be followed by working to “restore” its finances after the outbreak is declared over.

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  • OUE buys Indonesia’s Maxx coffee chain

    OUE buys Indonesia’s Maxx coffee chain

    Singapore investment firm OUE has acquired a majority stake in the parent of Indonesia’s Maxx coffee chain, which also operates in Singapore.

    According to the agreement, OUE’s wholly-owned subsidiary Oddish Ventures will buy an 88.43-per-cent stake, worth US$23.1 million from two companies – Inti Anugerah Pratama and Ciptadana Capital – which own 45.64 percent and 42.79 percent of the Maxx Coffee Prima’s issued shares respectively.

    OUE reported that the acquisition was valued based on various factors, including the high barrier of entry into the Indonesia food-and-beverage market, the opportunity for additional revenue stream through franchising, and Maxx Coffee’s access to prime retail locations in Indonesia.

    With the acquisition, OUE hopes to scale up and optimize its existing food-and-beverage portfolio, the company said in a statement.

    Founded in 2015, Maxx Coffee has more than 75 outlets in Indonesia and Singapore.

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  • % Arabica expands in Indonesia

    % Arabica expands in Indonesia

    Japanese coffee chain % Arabica is launching four locations in Indonesia.

    The stores, scheduled to open in Jakarta and Bali next month, are the result of three years’ planning and were designed by German architect Alexis Dornier.

    According to an Instagram post by the company’s Indonesia partner, the first store to open will be at District 8, a mixed-use development in SCBD, South Jakarta, followed by one in Central Park, West Jakarta and one in Bali’s Seminyak Village the following month. The last of the first four stores, which is set to open in Ubud in May, will be % Arabica’s Indonesian flagship.

    % Arabica now operates 56 outlets in 13 countries since first opening in Kyoto in 2014. The chain has two stores in the Philippines, three in Singapore, and one in Cambodia, with a Bangkok store expected to launch shortly as well as new outlets in Malaysia and Vietnam on the horizon.

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