Parkson Holdings to expand into Indonesia retail market

Parkson Holdings to expand into Indonesia retail market
Written by Joseph Chin of theedgemalaysia.com
Thursday, 17 March 2011 19:23


KUALA LUMPUR: PARKSON HOLDINGS BHD [] is teaming up with PT Tozy Bintang Sentosa (TBS) to expand its Parkson department stores in Indonesia.

Parkson said on Thursday, March 17 it signed an exclusivity agreement with TBS Group for the proposed collaboration.

The TBS Group operates six retail stores under the brand names of Centro Lifestyle Department Store and Kem Chicks in Indonesia and it planned to add another two more stores.

The eight stores were expected to generate more than US$100 million in sales turnover in 2011.

“The proposed collaboration provides Parkson with an opportunity to establish a presence in Indonesia and extend its international network into Indonesia which has a large domestic retail market given its population base of over 240 million people,” it said.

Parkson operates 89 department stores in Malaysia, China and Vietnam.