Sarinah Expansion to Saudi Arabia
Retail company Sarinah Expansion to Saudi Arabia. Sarinah (Persero) will expand into the Saudi Arabia market next year. Develops two units of outlets in Jeddah and Mecca through cooperation with local partners. Director of Sarinah, Gusti Ngurah Putu Sugiarta Yasa said, business expansion to Saudi Arabia is a medium-term business plan. Sarinah see Saudi Arabia has potential in line with the largest Muslim population of the world. It is estimate there are more than 300 thousand Indonesian pilgrims and Umrah visit each year.
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The expectable Sarinah of 2019 can be realize, as it has been in the invitation. Since already has a local partner. Sarinah will offer products such as food and beverages, and the needs of visitors worship. However, Sarinah will still adapt to the needs of the market. In addition to the expansion of outlets, Sarinah also aims to increase sales of creative industry products such as batik and rattan handicrafts to southeast Asia.
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Sarinah targets export of products to China and the Philippines. While in Asean the company is sending batik to Myanmar and Thailand. Previously, the high demand product by the buyers from countries in Europe and Africa. Through this expansion, Sarinah hopes to increase the contribution of exports that are still small. As of October 2018, the total exports of Sarinah reach USD 1.6 Million.
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Ngurah said the retail segment is identical to the company, apparently growing stagnant in recent years. But throughout the 2018, Sarinah’s revenues grew significantly to 156%. Compare to last year’s performance sustain by the trading business. In 2018, trading became a game changer, as the import of alcoholic beverages and sticky rice were resold, becoming a supporter of the Sarinah growth. As an import license of the two commodities. The increasing demand in the country is improving making sales are also increasing.
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The export of handicraft products, although its value is still quite small. But is rated quite helpful to improve sales performance. While to maximize retail sales that grew stagnant in recent years. Sarinah will utilize State Owned Enterprise (SOE) synergy for expansion, as well as online trading. Sarinah remain focus on online sales, although, sales book 3%.
