On November 28, 2016, Mitsui & Co. acquired a stake of approximately 10% in PT Global Ecommerce Indonesia (GEI), which owns Indonesian conglomerate Lippo Group’s online shopping website, MatahariMall.Com.
Lippo Group’s core strength lies in retailing, and Matahari Department Store with trusted retail brand “Matahari”, and large-scale supermarket chain Hypermart, have also invested in GEI, which is developing an O2O service that seamlessly integrates online and offline by utilizing these stores as places for collecting products ordered online.
Indonesia has the world’s fourth largest population of 258 million, a large proportion of whom are young people, and has high levels of economic growth. Its market for online shopping is expected to see rapid growth as the number of middle income earners increases. With this investment, Mitsui intends to expand its business by entering Indonesia’s online shopping market and meeting the diverse needs of Indonesian consumers by supporting product procurement from Japanese companies.
Mitsui has been working with Lippo Group on a next-generation communications business since 2013, and on a data center business since 2014, and we will continue to promote new business development in Indonesia’s ICT sector together.