IKEA set to enter RI’s market

JAKARTA. Swedish retailer IKEA is set to enter the Indonesian market as publicly listed retail giant PT Hero Supermarket officially announced it signed a franchise agreement with the international home products company.

According to the announcement, published on Indonesia Stock Exchange, idx.co.id, on Monday, both companies signed the agreement on Thursday last week.

The agreement will allow Hero to operate IKEA stores in the country, which will be developed within the 2014 – 2021 period.

“The number of IKEA stores will likely be increased after the period,” Hero board of directors said in the announcement without citing the specific number of IKEA stores that would be developed in the first stage. (Sita W. Dewi/ The Jakarta Post)