JAKARTA (TheInsiderStories) - British luxury clothing retail, Ted Baker, has secured 10-year long retail license deals with PT Mitra Adiperkasa Tbk (IDX: MAPI) and All Futtaim Group, in a bid to grow further in Indonesia, Middle East, and North Africa (MENA). The Al-Futtaim agreements included eCommerce and will be its first full omni-channel territory operated by a license partner.
The enabling of full omni-channel services is a key pillar of the Group’ transformation plan and alongside the launch of the new eCommerce platform at the end of first quarter of 2021 marks further progress in creating an even better customer proposition. Following these new licenses, the retailer will have 17 retail license and 20 product license partners across the globe.
Helen Costello, director at Ted Baker, said in a written statement released today (03/11), under the terms, which commenced on Feb. 16, 2021, Mitra Adiperkasa has the retail and selective digital rights for Indonesia. This expanded distribution will build brand awareness in the Asian region alongside the five other license partner and the Group’ China joint venture.
While, Ratih Darmawan Gianda, the spokesman at MAP Group commented, “We believe the brand will complement our diverse portfolio and will further unleash the power of MAP’ 360° retailing strategy.”
The local lifestyle retailer managed over 2,600 retail stores and a portfolio over 150 of the world’ leading brands. During last year Mitra Adiperkasa businesses has been hit by the pandemicand decided cut 30 percent of the 2020′ capital expenditure of Rp1.2 trillion (US$83.33 million).
It said, the impact of the large-scale social distancing and the temporary closure of the mall since early April had an impact on the financial performance of the retailer in the second quarter of this year. The company, he said, had taken a responsive by mobilizing all of the company’ omni-channel capabilities.
To help the financial of MAPI, the management has transfer MAP Active Adiperkasa Ltd., shares to Singapore firm, Athletica International Holdings Pte. Ltd., with worth of THB105 million ($3.38 million), the unit of and PT Map Aktif Adiperkasa Tbk (IDX: MAPA). The number of shares has been transferred was 999,998 unit or equal to 99.99 percent of the company’ shares.
The two companies are controlled companies with ownership amounting to 99.99 percent direct shares in MAP Active, 68.84 percent direct shares in MAPA, and 100 indirect shares in Athletica. By consolidating the ownership of MAP Active shares under MAPA, the internal restructuring is expected to provide business synergy between the parent and its subsidiaries that has similar business activities.
National development planning minister, Suharso Monoarfa has said, that due to the COViD-19, extraordinary working hours have been lost and have eliminated people’ purchasing power around Rp362 trillion. In addition, the virus outbreak had a significant impact on the sluggishness of the Indonesian economy.
To overcome the problem, President Joko Widodo has launched various programs, ranging from cash social assistance, village cash transfers, basic food cards, to cash intensive work. He hope this will increase people’ purchasing power.
US$1: Rp14,300
Written by Editorial Staff, Email: theinsiderstories@gmail.com
