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.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
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 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Lito German Is Driving Change And Accelerating Growth For Sandbox
After years in the automotive industry, CEO Lito German is now driving change and accelerating growth for importer and distributor Sandbox Middle East.
They're Pioneers In Enshrining Green Values Into Everything They Do
CEO Chamaiporn Uerpairojkit explains how thai plastics giant tpbi was committed to sustainability long before the government made an industry-changing announcement last year.
Maverick Unicorn
Spotify co-founder and CEO Daniel Ek is a textbook example of the startup gurus propelling their companies to billion-dollar valuations.
''Increase The Velocity''
Adapting Camfil’s business model to work at a faster pace was critical for the business to thrive in today’s China, according to managing director Michel Moulin.
Device Manager
Covid-19 tore the world’s tech supply chains asunder, the effects of which are still being felt today. But through steady management and quality of work, malaysian component manufacturer analog devices has managed to thrive during the storm.
Going Antiviral
Chiaphua Industries chief marketing officer and co-founder of Germagic Hamilton Hung has transformed the appliance manufacturer into an antiviral research and development powerhouse. And he has done so with patience and vision.
Risk Vs Return
Add pandemic fallout to a low interest-rate environment and you have a challenge for highnet-worth investors. Where might opportunities lie?
Expect The Unexpected
For lockton philippines insurance & reinsurance brokers ceo vic valledor, providing affordable premiums for the poorest families is vital, especially considering the recent challenges of the covid-19 pandemic.
The Ultimate Investments
With the global economic recovery from the pandemic underway, many analysts are suggesting now is the time to invest – but will whisky, soybeans or bitcoin find a way into your portfolio?
The Future Of Fintech
Covid-19 has accelerated the world’s shift to a digital economy, and airwallex co-founder and president Lucy Liu wants to make sure there are more female fintech leaders with her at the top.
