Ace Indonesia has brought up its store count by eight to 216 outlets at the end of 2021 from 208 at the end of 2020, information available on the company’s website shows. The company opened 13 new locations last year but shuttered five existing branches during the same period. Since then, it opened two new stores in January 2022.
Ace Indonesia, a member of the Kawan Lama group, is required, under its license agreement with US cooperative Ace Hardware, to open at least two branches a year. The agreement is set to expire in 2024.
The company has been facing headwinds, reporting a 14.34 per cent fall in net sales from January to September 2021 to IDR 4.694 trillion (Indonesian Rupiah, EUR 283.93 mio) on the back of tepid sales in all three of its segments – home improvement, lifestyle and toys.