Publicly listed PT Trisula International, the retailer of various fashion brands including Jack Nicklaus, Jobb, UniAsia and Man Club, is expecting an increasing contribution from its new subsidiary PT Triduaribu Bersatu, which holds a distribution license for the G2000 brand.
Trisula president director Lisa Tjahjadi said that her company estimated that Triduaribu’s sales would reach around Rp 7 billion (US$734,139) this year.
“We will perform the revitalization of existing outlets and establish new stores, which will help Triduaribu to book up to Rp 50 billion in sales next year,” Lisa said on Monday.
Trisula also estimates that G2000 will reach sales of up to Rp 200 billion within five years.
Triduaribu is a joint venture between Trisula and Hong Kong-based Trading 2000 Limited. Trisula and Trading 2000 Limited currently hold 51 percent and 49 percent respectively in Triduaribu, which began operating this month. Trisula invested Rp 15.3 billion in the joint venture. Trisula and Triduaribu have signed a distribution agreement, stating that both parties will cooperate, distribute and sell products under the G2000 brand.
Currently, G2000 has 22 sales spots in the country and is targeting to have 155 by 2017. The G2000 group now has around 1,000 sales spots in 12 countries. According to Triduaribu president director Rudolf Simarmata, his company is preparing for the opening of new outlets soon. Two department stores, Metro and Centro, will host the new outlets. Metro will host G2000 in Metro Senayan, Gandaria City and Pondok Indah in Jakarta. Meanwhile, Centro will host G2000 in Galaxy Mall in Surabaya, Plaza Ambarrukmo in Yogyakarta, Margo City in Depok and Paragon in Surakarta.
Trisula is targeting to reap Rp 591.1 billion in sales and Rp 29.4 billion in net profit by the year end. The company reported that its sales reached Rp 305 billion in the seven-month period ending in July, rising significantly from the Rp 141 billion reaped in the January to June period.
The fashion retailer booked Rp 9.3 billion in net profits in the first seven months of the year, and said it was targeting a surge for the remainder of the year, expecting a significant increase from newly acquired company PT Trisco Tailored Apparel Manufacturing in July. Trisula used around Rp 27 billion of funds raised from the recent initial public offering to acquire a 50 percent stake in Trisco, which produced apparel for the overseas market.
— JP/ Raras Cahyafitri