Sy ambil dari tulisan Pak Gabriel Wu di facebook beliau: (Permisi ya Pak)
Can Lotte sustain Makro’s business model in Indonesia ?
Lotte Group, a conglomerate controlling the nation’s largest department store chain, has taken a bold move in the slumping market by taking over an Indonesian discount store franchise, only to face skeptical questions on its perspective of overseas markets.
Lotte Shopping announced Tuesday that the retailer had completed a deal acquiring a 100 percent stake of PT Makro Indonesia, a Dutch-based retailer, at 385.9 billion won ($277 million).
PT Makro has been operating 19 Makro discount stores throughout the country since 1991. The franchise had sales of 478.3 billion won last year, and the figure is expected to grow 22 percent to 580 billion won by the end of the year, according to Lotte.
The Korean retailer giant, which owns 58 stores nationwide, has been active in muscling onto the global stage, with Indonesia the third foreign country it has advanced to.
Last year, it took over a controlling stake of Makro China, before signing a deal of complete purchase in January. Lotte is now running eight former Makro stores there in the name of Lotte Mart and also plans to open the first Lotte Mart store in Vietnam at the end of the year.
The company said the decision is a separate move from the current economic downturn, and focuses on the huge potential in the Indonesian market.
“Indonesia is rapidly growing at over 6 percent every year, and even though Makro was in the red last year, the showing is better now, and is expected to post a surplus at the end of the year,” said Na Geun-tae, a Lotte public relations manager.
“Larger retailers have a low market share there, so we expect there will be much bigger space for further growth in the business.”
The market share of large discount stores is 8 percent in the retailers market in Indonesia.
The consumer base is also extensive in the southeast Asian country, as 30 percent of the population is below 14 years old, according to Lotte Shopping. The retailer, however, declined to disclose the general blueprint for the chain’s management.
To Lotte’s dismay, the local market is growing cold toward the move.
Lotte’s stock closed Wednesday at 220,000 won, down 18,000 won, or 7.56 percent, from the previous day to hit a new low. Its offering price at the listing was 400,000 won per share in February 2006.
Industry researchers said the action is “untimely and a practical rip-off.” Some also point out that entering Indonesia does not appear a positive move as the business structure is not friendly to foreign investors and the population is scattered across many islands.
“It’s hard to understand why Lotte had to go for the move so hurriedly,” said Ko Chang-gun, head analyst of consumer products at Samsung Securities. “Considering overall asset values are continuing to nosedive globally, the company might have bought at a lower price with no competitor in the deal.”
Roughly, an 8 percent profit rate is required for Lotte to make gains from the project. That means the Indonesian franchise needs to post at least 700 billion won this year, well below the projected outcome, Ko added.
“It still has to wait and see where the deal is headed, but it’s certainly worrisome at the moment,” the analyst said.
Hana Daetoo Securities analyst Kim Kyung-ki agreed on the price disadvantage, saying Lotte has spent too much on the project to be covered by their operation alone, but also implied the business could give the company a long term benefit.
“In a hopeful sign, Makro stores are seated in huge sites and are concentrated in major cities, so additional revenue generation is possible through real estate development in the future.”
____________________________________________________________________________________
Dan, ini dia pendapat asal org Sok Tau
Sy ga ngerti dapurnya Lotte.
Keliatannya mrka baru mulai agresif beberapa thn belakangan ini khususnya di pasar Asia. Sedikit terlambat memang krn justru di Asia, hypermart Eropa sudah mendominasi.
Di Vietnam sendiri, Lotte Mart sedang dalam pengerjaan. Krn blum juga jadi, sy ga tau tapi sepertinya memang Lotte Mart lebih ke arah premium dan modern Fresh Mart. Sama sekali berbeda dengan konsep Makro saat ini. Konsep Makro saat ini seperti konsep Metro di Vietnam (CMIIW, pak Gabriel), walaupun lebih longgar daripada Metro.
Strategi yg dibesut Metro mirip dgn Makro di awal-awal operasi dimana hanya member yg bisa masuk dan belanja. Bedanya adalah membership ini by perusahaan dan juga by personal. Mrka yg mo jadi member bisa mendaftarkan dgn berbagai persyaratan dokumen2 perusahaan. Database yg ter-storage dengan baik ini digunakan untuk mailer setiap bulan, satu leverage awal yg baik dari suatu database management. Yg unik dari Metro adalah memposisikan sebagai “modern wholesaler”, ketimbang hypermart. Sesuai dgn positioning ini, memang Metro seringkali meminta perlakuan khusus berupa harga atau program2 trade lainnya. Akibatnya jelas, bagi kami prinsipal, mesti berhati2 dengan pricing di setiap level channel. Jgn sampai harga di Metro lebih tinggi dari harga traditional wholesaler/retailers sehingga barang kita yg dibeli dalam jumlah besar di Metro jadi numpuk. Begitu juga jgn kerendahan karena wholesaler/retailers akan beli di Metro daripada dari distributor.
Very curious to know:
apakah positioning Metro ini yg akhirnya digunakan Makro (Makro kembali ke titik awal sebagai wholesaler modern) ataukah Makro akan diubah menjadi Fresh Modern Mart ala Lotte Mart?
Betul kata bos Sum. Modern Mart ini adalah satu challenge yg cukup besar. Pemetaan area di Jakarta perlu dipertimbangkan. Tidak di semua area, tipikal Fresh/Modern market itu diterima residential di area tsb. Kalaupun diterima, tentunya existing player tidak akan tinggal diam.
Ambil contoh di Kelapa Gading Bila Fresh Modern Mart, tentunya Diamond yg sudah terkenal dgn positioning ini tidak akan tinggal diam.Akan ada satu persaingan besar, walaupun pertanyaan berikutnya: sub-differentiation “fresh” apa yg akan digunakan untuk membedakannya dgn Diamond.
Di sisi lain bila mengambil positioning seperti Metro. Wah wah…ini bukan hal mudah untuk mempersuasi sedemikian banyak perusahaan untuk mengikuti frame begitu. Tentunya existing hypermart tidak akan tinggal diam. “Low price-weekend” yg selama ini diterapkan adalah barrier besar bagi Makro.
yg jelas “low price-weekend” yg diterapkan hypermart saat ini justru adalah sama dgn penerapan dari sebuah positioning “wholesaler”. Kenapa? Karena yg beli pada saat setiap diskon heboh hypermart adalah para pedagang. Baik dijual kembali atau digunakan untuk operasional usaha mereka.
Artinya adalah ada opportunity bila Makro mau menerapkan strategi “wholesaler” lagi, khususnya ke para target dari program diskon heboh hypermart tsb. Yup! Para SME, kuo tieh Sanjaya di hayam wuruk kesukaan saya, sarang kepiting tempat makan favorit kita2, dsbnya…
Hm…sy ga tau bila kedua positioning itu digabungkan…Bisa juga dilakukan.
So?
Menarik sekali memperhatikan pergerakan Makro after Lotte acquisition.
Salam dari Ho Chi Minh City…
MST
http://marketersoktau.wordpress.com
Belum Ada Tanggapan
Belum ada komentar.
