Magazines Archives - 2008 October

Major Singapore bookstore chain set to establish retail prominence in Indonesia
Story 7 - News

THE book-retail arm of Singapore’s Times Publishing Group is set to open 30 stores in Indonesia following the launch of its first and flagship outlet in the market last June.

Times The Bookshop Pte Ltd, which has partnered Indonesian conglomerate Matahari for the venture, places much importance on the market.

“We are glad to come to Jakarta, one of the fastest-growing cosmopolitan cities in South-east Asia. With a population that is affluent and well travelled, Jakarta is an important landmark for Times bookstores. Thus, this opening [is] a logical move for us,” said Times Publishing Group CEO Dato Ng Jui Sia.

The S$6-million (US$4.18-million), 19,000sqf store is located at Universitas Pelita Harapan (UPH) in Jakarta. PT Times Prima Indonesia, the joint venture between Times and Matahari, has committed to invest over US$20 million for the branding, infrastructure development, personnel, marketing and merchandising of the additional bookstores, which will come on stream over the next three years.

“This collaboration represents a partnership of strengths. We have been looking to enter the Indonesian market for some time now and, today, we are indeed very excited to be partnering a ompany that shares similar goals, drive and passion for book retailing,” said Dato Ng.

Earlier, the book chain had made forays into Malaysia and Macau in line with its plans to be “a responsible bookstore that is truly Asian”.

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