Thursday, June 19, 2025
No Result
View All Result
Indonesia Sentinel
  • Home
  • News
  • World
  • Economic
  • Culture
  • Tech & Science
  • Home
  • News
  • World
  • Economic
  • Culture
  • Tech & Science
No Result
View All Result
Indonesia Sentinel
No Result
View All Result
ADVERTISEMENT
Home Economic

After 29 Years, ACE Hardware Leaves Indonesia

by Becky
2024-10-01
in Economic
A A
ace hardware indonesia

(Intagram/belanja.banget)

Share on FacebookShare on TwitterShare on Whatsapp
ADVERTISEMENT

Jakarta, Indonesia Sentinel — PT ACE Hardware Indonesia, Tbk (ACES) has announced its rebranding to PT Aspirasi Hidup Indonesia, Tbk (AHI) as it chooses not to renew its licensing agreement with ACE Hardware International Holdings, Ltd.

This decision marks the end of a 29-year partnership between the Indonesian retailer and the Illinois-based ACE Hardware brand. The licensing agreement is set to expire on December 31, 2024.

Previously, ACE Hardware stores in Indonesia were operated by the Kawan Lama Group under the American brand name. T

RelatedPosts

Indonesia Economy Grows 5.03% in 2024, Household Consumptions Becomes Key Drivers

Trade Minister Zulkifli Hasan Leads the Unveiling of IDR 10 Billion Worth of Illegal Carpets Import

he strategic move to rebrand, which was approved during an Extraordinary General Meeting of Shareholders on June 7, 2024, reflects the company’s ambition to innovate and offer more localized products and services tailored to Indonesian consumers.

ADVERTISEMENT

Gregory S. Widjaja, Director of PT Aspirasi Hidup Indonesia, shared that the company is in the process of launching a new brand identity, which is expected to be unveiled in early 2025.

The rebranding will focus on maintaining its leadership in the retail market while staying competitive and relevant to customers’ evolving needs.

“We are preparing thoroughly to ensure the new brand continues to strengthen our market leadership, enhance competitiveness in retail, and positively impact all stakeholders,” Gregory stated in a public disclosure to the Indonesia Stock Exchange.

From a financial perspective, PT Aspirasi Hidup Indonesia reported a 21% rise in net profit to Rp366 billion (approx. $23.7 million), alongside a 14% increase in revenue to Rp4.1 trillion (approx. $265 million) for the same period compared to the previous year.

The company has also expanded its retail footprint, opening 10 new stores across six regions, including Banyuwangi, Garut, Banda Aceh, Tanjungpinang, Ternate, and Palopo.

Tupperware Files for Bankruptcy after Years of Struggles, Is It The End?

This rebranding marks a significant shift for the company, as it seeks to further cement its position in the competitive Indonesian retail market with a renewed focus on innovation and customer satisfaction.

(Ray)

Tags: ACE HardwareACESAspirasi Hidup Indonesialicense
ADVERTISEMENT

Related Posts

Live Cattle Import

Government Lift Live Cattle Import Quotas, Strengthen National Food Security

2025-06-16

Jakarta, Indonesia Sentinel -- Indonesia plans to eliminate import quotas on live cattle to ensure a steady supply of beef...

Local Corn

Indonesia Allocates Rp 6 Trillion to Absorb 1 Million Tons of Local Corn

2025-06-16

Jakarta, Indonesia Sentinel -- The Indonesian government is preparing a budget of approximately Rp6 trillion (around USD 370 million) to...

Danantara Investment

Danantara Eyes $5 Billion Investment in 2025, Targets 8 Key Sectors

2025-06-12

Jakarta, Indonesia Sentinel -- Indonesia's sovereign wealth management body, Danantara Indonesia, is setting its sights on a $5 billion (approximately...

Corn Production Surplus

Indonesia Reports Corn Production Surplus, Boosting Confidence in Food Self-Sufficiency Goals

2025-06-12

Jakarta, Indonesia Sentinel -- Indonesia’s National Food Agency (Bapanas) announced a national surplus in corn production, marking a significant step...

Rice Supply Manipulation

Agriculture Minister Alleges Rice Supply Data Manipulation by Food Cartels

2025-06-10

Jakarta, Indonesia Sentinel -- Indonesia’s Agriculture Minister, Amran Sulaiman, has alleged that certain actors are deliberately carried out data manipulation...

Priority Programs Prabowo

11 Priority Programs of President Prabowo Absorb Rp446 Trillion from the National Budget (APBN)

2025-06-05

Jakarta, Indonesia Sentinel -- Indonesia’s Finance Minister Sri Mulyani announced that President Prabowo Subianto 11 priority programs absorbs Rp446 trillion...

Copper Concentrate Export

Indonesia Sets New Export Benchmark Price for Copper Concentrate Amid Global Market Volatility

2025-06-02

Jakarta, Indonesia Sentinel -- Indonesia’s Ministry of Trade (Kemendag) has announced a slight adjustment to the Export Benchmark Price (HPE)...

Online Gambling Tactics

OJK Uncovers Sophisticated New Online Gambling Tactics, Disguised as Children Fairy Tale Sites

2025-05-31

Jakarta, Indonesia Sentinel -- Indonesia’s Financial Services Authority (OJK) has identified increasingly deceptive tactics used by online gambling operators, including...

Online Gambling Bosses

Indonesia’s to Block Over 4,000 Bank Accounts Owned by Two Online Gambling Bosses

2025-05-26

Jakarta, Indonesia Sentinel -- Indonesia's Financial Services Authority (OJK) is moving to coordinate the blocking of more than 4,000 bank...

Freeport Smelter

Freeport Indonesia’s Gresik Smelter Repair Completed, Resumed Operations Ahead of Schedule

2025-05-26

Jakarta, Indonesia Sentinel -- PT Freeport Indonesia (PTFI) has announced that its smelter facility in Gresik, which was damaged by...

Load More
Next Post
Hurricane Helene

Death Toll from Hurricane Helene Rises to 130 across Southeastern U.S.

Popular

  • Forrest Tribe

    Suku Mante, Mysterious Tribe Living in the Vast Forests of Aceh

    0 shares
    Share 0 Tweet 0
  • TikTok Shop GMV 2024 Hits $32.6 Billion, Indonesia Second Largest Contributor

    0 shares
    Share 0 Tweet 0
  • Top 6 Largest Nickel Mines in Indonesia, Dominate the Global Market in 2024!

    0 shares
    Share 0 Tweet 0
  • Indonesia Boasts an Outstanding Number of Islands, How Many?

    0 shares
    Share 0 Tweet 0
  • Ethnic Groups of Indonesia, A Tapestry of Cultural Diversity

    0 shares
    Share 0 Tweet 0

Recommended

Yos Suprapto

Cancellations of Yos Suprapto Solo Exhibition Sparks Controversy in Indonesia

6 months ago
Starbucks South Korea

Starbucks Opens a New Outlet in South Korea, Offering Coffee with a View of North Korea

7 months ago
ADVERTISEMENT

Indonesiasentinel.com is an independent online news portal committed to providing accurate, in-depth, and up-to-date news about Indonesia. Since 2021, we have been a trusted source for millions of readers seeking relevant and reliable news.

Part of:

Information Page

  • About
  • Editorial
  • Privacy Policy
  • Disclaimer
  • About
  • Editorial
  • Privacy Policy
  • Disclaimer

Contact

  • contact@indonesiasentinel.com
© 2021 Indonesia Sentinel

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • News
  • World
  • Economic
  • Culture
  • Tech & Science

© 2024 Indonesia Sentinel