The Jakarta Post
Those looking for affordable, ready-to-assemble furniture products of world renowned IKEA shall no longer be bound for Kuala Lumpur or Singapore, as the company will set foot in Indonesia from 2014.
Indonesian publicly-listed retail giant PT Hero Supermarket (HERO) was the one tapping the opportunity to secure the franchise of IKEA, whose concept and trademark are owned by Netherlands-based Inter IKEA Systems B.V.
Both companies inked the franchise development deal last Thursday, according to a statement submitted to the Indonesia Stock Exchange (IDX) on Monday.
“According to the franchise development agreement, IKEA gives rights and responsibilities to the company [Hero] to open and operate IKEA stores in Indonesia,” the statement said, without providing details on the investment value and store locations.
“The company [Hero] must establish IKEA stores ...