Indonesia’s Sarinah Inks Deals with Swiss, Mexican Firms to Expand Retail Business

JAKARTA, KOMPAS.com – Indonesia’s state-owned department store PT Sarinah (Persero) signed memoranda of understanding (MoU) with two foreign companies in a bid to transform its business and expand its presence in overseas markets.

The two companies are Swiss travel retail group Dufry and Mexico’s Omega.

“I hope Sarinah can also focus on the selection of premium small-medium enterprises products that suit best the interests and market of the world’s duty-free products,” said State-Owned Enterprises Minister Erick Thohir in a statement on Monday, November 9.

Erick called on PT Sarinah to improve its institutional and human resources capacities through the technology scouting and learning process on retail management from Dufry.

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“For the first stage, I give a target of promoting at least 10 best Indonesian products through this cooperation and it is hoped that there will be more opportunities for local products and SMEs to go global,” said Erick.

The minister said the cooperation is one of Sarinah’s strategic steps to transform and expand its products into the global market.

He said through cooperation with strategic partners such as Dufry and the Omega group from Mexico, especially in the retail and travel and leisure sectors, Indonesia will have opportunities to promote its SMEs' products to enter the major leagues of the international market.

The MoU, he added, can also bring several mutually beneficial business opportunities for the companies.

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