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Lotte targets US$100 million in Jakarta mall

Korea’s Lotte Group targets to achieve sales of US$100 million in three years of operation of its first shopping mall in Indonesia.

The shopping mall called Lotte Shopping Avenue will open in June. It will offer 77,000 sqm over seven floors of retail space.

The mall will include a range of brands including newcomer Uniqlo which will open its first store in the country.

According to Lotte Shopping Avenue president director Suh Chang Suk, the company is confident it can achieve its target due to the country’s robust consumer sector.

“We have conducted research over 10 years. Indonesia has a big population, enormous natural resources and high potential compared to other countries,” he said.

“We target in the first year we can get $6 million sales and it could be $100 million in the third year.”

Lotte Group is planning five more malls in Indonesia by 2018.

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