Home improvement retailer ACES to open 15 stores in Indonesia
PT Ace Hardware Indonesia (ACES), a home improvement retailer, plans to open 10 to 15 new stores this year in Indonesia.
Most of the new stores are said to be located in Jakarta and other major cities in Java.
ACES corporate secretary Helen Tanzil said the opening of new stores will help the company to meet its higher revenue target, reported thejakartapost.
"A store with an area of 2,500 square meters would require about Rp10bn ($1.117m). We will use capital of Rp150bn ($16m)," Tanzil said.
"The company would use internal funds amounting to Rp150bn ($16m) to finance the establishment of the new stores.
"Only about one-third of new stores to be opened this year will be located outside Java, such as in Balikpapan, Makassar and Manado."
In addition, the company will open its Rp10bn ($1.117m) store, occupying an area of 2,800m² in Serpong, South Tangerang, on 25 February.This is the grop's 57 store.
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