Retail In Paradise

Husband and wife Nengah Natyanta and Ni Ketut Siti Maryati have built Coco Group into a leading retail player in Bali.

- Ardian Wibisono

Coco Group is currently one of the leading retail players in Bali. Through its main company PT Bali Pawiwahan, Coco Group now operates close to 120 wholly-owned modern retail outlets and partners with around 500 mom-and-pop stores in Bali and Lombok under the brands Coco Mart, Coco Express, Coco Supermarket, and Coco Grosir. The co-founders, husband and wife Nengah Natyanta (49) and Ni Ketut Siti Maryati (46), still have big plans for their business, including tapping into digital and e-commerce. To get there, Bali Pawiwahan is preparing an IPO next year that will value the company at over $100 million.

“Our ambition is to grow the company further and build a good image by being professional,” says Nengah in an interview with Forbes Indonesia at the company headquarters located on top of their first store in the touristy Jimbaran area.

The couple launched their business 21 years ago although modern retail started in 2006. Both are hard workers and started the business from scratch. Nengah previously worked in the hospitality industry as a steward and then waiter at the Grand Hyatt Bali before quitting in 2004 to focus on their business. While his wife Siti worked in the retail business, building her career from a sales promotion girl to a managerial position in just a couple of years, and starting her own clothing store business in 1998. The initial capital for the clothing store was Rp 15 million, which was provided by Nengah from the savings he made from hotel guests’ tip money.

“When I worked at the retail company I formed a good relationship with the suppliers. I learned to calculate profit margins and sharpen my instinct as to which products will sell well. The business was based on consignment, but it was us who designed the store and the location,” Siti says.