Japan’s Ministop c-stores to exit Indonesia
Japanese convenience store chain Ministop is pulling out of the Indonesian market after terminating its franchise agreement with local retailer Bahagia Niaga Lestari (BNL), reported Nikkei Asian Review.
However, it will be a temporary departure as the c-store chain is currently looking for a new partner and will venture again in Indonesia’s growing convenience store market.
According to Retail Analysis, Ministop currently operates six stores in Indonesia, fewer than it has in South Korea, Philippines, and Vietnam. Its partnership with BNL, which started in 2012, has not spurred growth of the retail brand.
Ministop’s growth has also been challenged by tough competition from rapidly expanding local retailers Indomaret and Alfamart, which have more than 10,000 stores each.
