Lotte builds shopping malls in Indonesia on demographic play

The Jakarta Globe - Lotte Shopping, South Korea’s largest department store operator, plans to open four shopping malls in Indonesia by 2018 to tap growing consumer spending in a nation where half the population is younger than 30.

Lotte Shopping Avenue Indonesia will build two in Jakarta in the next three years, with the others in the country’s second-biggest city, Surabaya, and in Medan on Sumatra island, president director Suh Chang Suk said in an interview in the capital on Friday. There is a lot more potential for malls in the world’s fourth-largest population, Suk said.

Read more...