MatahariMall.com Embraces Foreign E-Commerce Investment in Indonesia

When asked for his views on the issue, Hadi Wenas, the chief executive officer of MatahariMall.com, told reporters on Wednesday (10/02): “We are very optimistic. It will be business as usual for us, we are not afraid, not shocked or confused.”

For foreigners, Indonesia is an attractive market for investment, particularly in the e-commerce sector, according to Indonesian E-commerce Association (idEA).

The association estimated that the number of online shoppers in Indonesia could reach 10 million this year as the country’s middle class continues to grow. The e-commerce business is projected to rake in Rp 20 trillion ($1.49 billion) this year, double from last year’s estimated Rp 10 trillion.

At the office launch of MatahariMall.com, Wenas noted that the same practice is common in Brazil, Russia, China and India, where local e-commerce firms are able to succeed in the market, supported by global investors, without the companies losing their identity.

“With the support of Lippo Group, the biggest retail group in Indonesia, and the team we currently have, we are super solid now. Look at our campaign breakthrough. Foreigners won’t match our local taste in our ‘Lu mau apa?’ [(‘What do you want?’)] campaign,” Wenas said, referring to the company’s catch phrase.

The Jakarta Globe and MatahariMall.com are both affiliated with the Lippo Group.