Magazines Archives - 2007 January

Lippo poised to open high-end stores in China
Story 5

LEBIN DEPARTMENT STORE, a subsidiary of Indonesian giant Lippo, is set to open 30 outlets in China. According to local reports, the company is in the process of choosing suitable sites for its high-end stores. It is planning to have at least five or six outlets in Guangzhou and Shenzhen, said its president and CEO, Wang Deming.

Lippo has total assets worth more than US$20 billion, with investments in Indonesia, Singapore, Australia and China. It operates 266 retail stores, including 85 department stores and 55 supermarkets.