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Optimism for 2024

Ace Indonesia reports 17.2 pct rise in Q1 sales

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Ace Hardware Indonesia started the year on a strong footing after seeing a 17.2 per cent rise in its sales. The company recorded sales of 1.955 tn Indonesian Rupiah (IDR, EUR 113.35 mio.) for the period of January to March 2024, buoyed by an overall increase across all of its three categories, it disclosed to the Indonesian stock exchange.

Home improvement ‘s take rose 12.75 per cent to IDR1.042 tn, contributing 53.34 per cent of the total sales. This is followed by lifestyle products, which accounted for 43 per cent, with IDR 840.35 bn (up 24.9 per cent). Toys, which made up 3.68 per cent, accounted for IDR 72 bn, a 2.19 per cent uptick from the same period last year.  

In its annual report, Ace Indonesia said that it is optimistic on the prospects this year, citing steady domestic consumption, a stable political and economic environment, and good indicators in the public and private construction sector. It projects that same store sales will grow seven per cent this year, while sales will increase 10 per cent.  

Ace Indonesia also said it plans to expand its store network this year, from 233 Ace stores in 61 cities as of end-2023.

“The company also plans to expand further by opening new stores in unreached areas to provide convenience to and bring in new customers,” it said. It added that it would “carry out various development efforts to increase [Ace] brand awareness to customers.  

“Interesting programs will continue to be presented to increase customer interest and visits to all outlets owned by the company, which will increase engagement in the form of good feedback,” the company stated.  

Ace Indonesia is part of the Kawan Lama Group and holds the license to operate Ace Hardware stores in the country up to December 2024. Based on its licensing agreement, Ace Indonesia is required to open a minimum of two new stores per year.  In 2023, it paid royalty fees amounting to IDR 39.83 bn.

 - by Jennee Grace U Rubrico

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