PT ACE Hardware Indonesia Tbk (ACES), a company owned by conglomerate Kuncoro Wibowo and part of the Kawan Lama Group, has inaugurated five new stores in the first quarter of 2023, and it plans to open an additional 10 to 15 outlets by the end of the year. The new five establishments already opened are located in diverse regions, including Tarakan, Batoh Aceh, Denpasar, Gianyar, and Singkawang.
ACES has emerged as a leading retail company in Indonesia for home improvement and lifestyle products store. The company’s expansion is in line with its plan to introduce omni-channels across all its stores. ACE Shas implemented an integrated shopping system that connects online and offline channels, spanning across over 230 stores across Indonesia. In an official statement released in April 2023, the company highlighted how the expansion strategy is anticipated to bolster revenue growth. As of 2022, the company’s revenue already surpassed USD 450 million.
Out of the five stores that ACES has opened between January and April 2023, Singkawang in West Kalimantan and Tarakan in North Kalimantan are new markets for the company. Encouraged by the favorable response from the public towards these recent store openings, ACES aims to open new stores in order to further enhance its business performance in 2023.