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Teaming up with Bank Mandiri, Sogo aims for Rp 4 trillion in sales
Sogo Indonesia, the Indonesia branch of Japan department store chain Sogo Co. Ltd, is aiming to book Rp 4 trillion (US$300 million) in sales this year, a 12.5 percent increase from Rp 3.5 trillion in 2015.
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Sogo Indonesia CEO Handaka Santosa (second left) looks on as Bank Mandiri retail banking director Tardi signs a cooperation agreement between the two companies in Jakarta on Thursday. (The Jakarta Post/Sepsha Dewi Restian)
S
ogo Indonesia, the Indonesian branch of Japanese department store chain Sogo Co. Ltd, is aiming to book Rp 4 trillion (US$300 million) in sales this year, a 12.5 percent increase from Rp 3.5 trillion in 2015.
The target is realistic because domestic consumption has continued to grow and Sogo’s customers show high levels of loyalty to the brand, Sogo Indonesia CEO Handaka Santosa said in Jakarta on Thursday.
“Sogo currently has 700 privilege card holders, a proof that it boasts many loyal customers," he added.
To further improve the sales, Sogo has signed an agreement with Bank Mandiri, Indonesia’s largest lender by assets. The cooperation allows the holders of the bank’s debit card to get discounts, while holders of Mandiri credit cards are entitled to zero percent interest rates on every transaction.
This year, Sogo will open a new branch in Balikpapan, a bustling oil town in East Kalimantan, as part of its expansion, in addition to its existing outlets in Jakarta, Bandung in West Java, Bali, Medan in North Sumatra, Samarinda in East Kalimantan and Surabaya in East Java. The department store will rely more on local products, rather than costly imported ones, to keep costs down. (sha/ags)
