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
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.
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.
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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)
