A partnership of mega retailer CT Corp, home furnishings brand Index Living Mall Indonesia has opened its first store.

With 2500 sqm of retail space, the Thai brand’s store is at PT Retail’s Transmart Carrefour in Cempaka Putih, Jakarta. A further four stores are planned to open before December, followed by another five to 10 stores each year until 2020.

Index Living Mall president/CEO Pisith Patamasatayasonthi says the company is seeking further investment opportunities and business strategies with the aim of becoming one of the largest home furnishings and accessories retail chains in Asean by 2020.

He says the partnership with CT Corp, the largest capital group in Indonesia, shows the company is “more than ready” to expand internationally.

Its Indonesian stores will range in size from 1000 to 2000 sqm and also be within Transmart Carrefour locations.

Index Living Mall director of international business development Ekaridhi Patamasatayasonthi says that while there is a slowdown in sales for fashion and IT gadgets, the home-furnishings market has growth potential.

“Our franchise expansion into Indonesia will help increase international revenue share up to 14 per cent this year from our current level of 8 per cent.”

Index Living Mall has a presence in more than 10 countries including Cambodia, Laos, Malaysia, Maldives, Myanmar, Nepal, Pakistan, Singapore and Vietnam. Head of international business development Gerard McGurk says the company also has strategic partners in place for the export of its products into Japan and Korea.