When the going gets tough, the tough get going, and this, it seems, is the case for retail powerhouse Lotte Mart Indonesia. President Director Joseph Buntaran knows he has the reassuring support of South Korean parent company Lotte Group. And this means he can strategically position Lotte Mart to leverage the opportunities presented during 2020’s challenging times.
With Lotte Group’s commitment to continuing expansion and growth in Indonesia, and the belief and trust in Joseph’s leadership for the region, this is an exciting phase for the Lotte brand.
NEW BEGINNINGS
Based in South Korea and Japan, Lotte Group is a multinational conglomerate – one of the country’s largest. It offers a diverse range of products and services, from hotels, fast food, retail and financial services to industrial chemicals, electronics, IT and construction. The company first launched in 1948 selling chewing gum, inspired by US soldiers in the country. This year, the company’s Founder, Shin Kyuk-ho, who drove the expansion of the Lotte Group, passed away at the age of 98.
In 2008, the Group purchased discount store chain PT Makro Indonesia, acquiring the 19 stores it operated across the country. Joseph had been working with PT Makro since 2006 as a grocery merchandising director for the wholesale division of the company, so was part of the original team when the business was acquired.
This story is from the September 2020 edition of The CEO Magazine Asia.
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This story is from the September 2020 edition of The CEO Magazine Asia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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