LuLu Hypermarket opens second store in Indonesia, eyes expansion

LuLu Hypermarket has bolstered its presence in Indonesia with the opening of its second store in Serpong, Tangerang, Banten. According to The Jakarta Post, this is part of its plan to further expand its business in the country. The company opened its first outlet in Cakung, East Jakarta, last year.The report added that the company has committed US500 million in Indonesia over 2016 to 2019. For the new hypermarket, the company had spent US$25 million, this was according to V. Nandakumar, a spokesperson for LuLu Group.The company added that it is targeting to have 10 stores in Indonesia by 2019, with the next two stores being slated for opening in Sentul and Cikarang, West Java, before mid-2018. Nandakumar explained that despite Indonesia being a new country for the brand, it takes less time to expand its business in the nation compared to other countries.Currently, LuLu has outlets in Oman, Qatar, Kuwait, Bahrain, Egypt, Saudi Arabia India, Indonesia and Malaysia, according to its website. With the new store opening, the company has a total of 127 stores globally.Marketing has reached out to LuLu Group for comment.