Hero (supermarket)

Last updated
PT Hero Supermarket Tbk
FormerlyPT Hero Mini Supermarket (1971-1991)
Company type Public PT
IDX:  HERO
Industry Retail
Founded5 October 1971;52 years ago (1971-10-05) in Jakarta, Indonesia
Founders
  • Muhammad Saleh Kurnia
  • Nurhayati
HeadquartersGraha Hero, Bintaro Jaya Sector 7,
South Tangerang, Banten
,
Indonesia
Number of locations
341 stores (2022)
Key people
Patrik Lindvall
Ipung Kurnia
Brands
Number of employees
4,481 (2023)  OOjs UI icon edit-ltr-progressive.svg
Parent DFI Retail Group (88.6%) [lower-alpha 1] (1998—present)
Website www.herosupermarket.co.id
www.hero.co.id

PT Hero Supermarket Tbk, commonly known as Hero, is one of Indonesia's largest retailer groups, [1] which operates Hero hypermarkets and supermarkets, Guardian Healthy & Beauty Stores and IKEA. [2] [3] It is a subsidiary of DFI Retail Group [4] and is indirectly owned by Jardine Matheson. [1]

Contents

Focusing on middle-income segment customers, the company's first store opened in 1971. As of 2022, the company operates 341 stores throughout the country. [5]

History

1954 - 1971: The Roots

The roots of Hero Supermarket could be traced back to 1954, where a 19-year old Muhammad Saleh Kurnia started "CV Hero" with his brother, Wuo Guo Chang. 5 years later, his brother quit, and Kurnia had to continue the business himself. [6]

In the 1960's, Kurnia realized that many Indonesians and expatriates often travel to Singapore just to purchase western imported food and beverages. He saw an opportunity to import the goods directly to Indonesia. [6] After receiving advice from his Canadian friend Charles Turton, Kurnia and his wife (Nurhayati) traveled to Singapore to learn how Singaporean stores were configured. Then in 1971, the couple opened the first Hero store in Kebayoran Baru, Jakarta. [6]

1971-1989: Hero Supermarket

During Indonesia's New Order period, Hero and its competitor Gelael stores were the only major supermarkets in Jakarta, with Hero operating 9 stores in Jakarta alone. [6] Most Indonesians purchased their groceries in the wet markets, while supermarkets were considered prestigious and restricted to the upper class. [6]

1989-2010: Initial Public Offering and Expansions

The company went public in 1989 [6] where the founders retaining 50.1% ownership. The remaining shares were held by MPPA Retail Group (part of Lippo Group) with 10.42%, Mulgrave (DFI Retail Group) with 7.63%, SSV Netherland BV with 10.20%, and retail public investors with 21.65%. [7]

In 1990, Hero started its Guardian Pharmacy operation and the mini-market "Starmart" the following year. [8] In 1992, the founder MS Kurnia passed away. His son Ipung Kurnia took control of the business [9] In 2002, the group started its Giant hypermarket operation. [9]

2010-2019: DFI Retail Group as the New Majority Shareholder

In 1998, the founders issued a convertible bond for US$ 36.4 million, which was purchased by Mulgrave. [7] In 2010, Mulgrave exercised the convertible bond for 24.54% stake in the company, making DFI Retail Group the new majority shareholder of PT Hero Supermarket Tbk. [7] MPPA protested the action and went separate ways to build its own store "Hypermart".

In 2014, Hero acquired a license to operate IKEA stores in Indonesia. In 2016, the company sold its mini-market "Starmart" operation to PT Fajar Mitra Indah (part of Wings Group [10] [11] ), under which the stores would operate as FamilyMart with new ownership. [12] [10]

2019-2021: Closure of "Giant" hypermarket stores

The rapid growth of convenience stores and e-commerce in Indonesia shifted consumer behavior to online shopping. [13] This shift resulted in the company downsizing its Giant outlets starting 2019. [14] [15] In 2021, CEO Patrik Lindvall said that management has closely seen the trends of the global hypermarket industry, with Walmart, Carrefour, and Tesco moving away from the industry. Consumers preferred to shop in smaller nearby stores. [15]

The company decided to close the Giant brand effective 31 July 2021. [16] It blamed the COVID-19 pandemic and changes in consumer behavior. [15]

2021-Present: Focus on Hero, Guardian, and IKEA. Reacquiring the "Hero" brand

With the closure of Giant brands, the company will focus on the operations of Hero, Guardian, and IKEA. [16] The opportunities for Hero Supermarket in the upper-class supermarket segment appear promising and less fragile. [15] The company believes the new brand portfolio focus, mainly Guardian and IKEA, offers sufficient diversity and will serve markets outside the upper-class segment. [15]

The company converted the previous Giant stores to IKEAs or Hero Supermarkets. [17]

PT Hero Supermarket Tbk planned to divest its supermarket businesses along with the rights of the "Hero" brand on 19 April 2024 to the Kurnia family's new company PT Hero Retail Nusantara for 135 billion rupiahs. [18] [19] [20]

Brands

Currently Operating

Previous Brands / Not Operating

Slogan history

Related Research Articles

<span class="mw-page-title-main">DFI Retail Group</span> Asian retail company

DFI Retail Group Holdings Limited is a Hong Kong-based retail company with legal bases in Bermuda and Singapore. A subsidiary of the Jardine Matheson Group, it is a major East and Southeast Asian retailer involved in the processing and wholesaling of food and health and beauty products. Jardine Strategic, a publicly listed holding company, has an attributable 78 percent stake in the firm. It is listed on the London Stock Exchange, with secondary listings on the Singapore Exchange (SGX) and Bermuda Stock Exchange (BSX).

<span class="mw-page-title-main">Seibu Department Stores</span> Japanese department store

The Seibu Department Stores, Ltd. is a Japanese department store. The first store to trade under the name opened its doors in 1949. Seibu is typical of Japanese department stores with a wide variety of stores doing business on several floors. The company is now a subsidiary of Sogo & Seibu Co., Ltd., owned by the U.S. investment fund Fortress Investment Group.

<span class="mw-page-title-main">Giant (hypermarket)</span> Supermarket chain

GCH Retail (Malaysia) Sdn Bhd, doing business as Giant Mall, is a hypermarket brand and retailer chain now mainly in Malaysia, Singapore and formerly Brunei, Cambodia, Indonesia and Vietnam. In 2016, Giant was the largest supermarket chain in Malaysia. Its parent company also operates Mercató, Cold Storage and TMC in Malaysia.

<span class="mw-page-title-main">Lotte Mart</span> South Korean hypermarket chain

Lotte Mart is a South Korean hypermarket that sells a variety of groceries, clothing, toys, electronics, and other goods, with headquarters in South Korea. Lotte Mart is a division of the Lotte Co., Ltd. which sells food and shopping services in South Korea and Japan. Lotte Mart, part of the Korean conglomerate "Lotte", opened its first branch at Guui-dong, GangByeon, Seoul, Korea on April 1, 1998. In 2006, Lotte Mart opened its first overseas branch. As of August 8, 2011, Lotte Mart had 199 branches. The brands that Lotte created and sell include Herbon, Wiselect, Withone, Basicicon, Tasse Tasse, and Gerard Darel.

Metro is an Indonesia based chain department store selling cosmetics, apparel and fashion accessories. Founded by Ong Tjoe Kim in 1953, Metro currently has 12 outlets located across Indonesia and 2 in Singapore.

PT Graha Layar Prima Tbk is a cinema chain in Indonesia. The chain was founded as BlitzMegaplex in October 2006. Today, it operates over 73 cinemas with 416 screens across 30 cities in Indonesia.

Cold Storage is a Singaporean multinational supermarket company currently owned by DFI Retail Group. Its parent company also operates Market Place stores, now branded as Cold Storage Fresh, as well as the Giant hypermarket brand, and has various other supermarkets around Asia including Hero and Wellcome.

<span class="mw-page-title-main">Market Place (supermarket)</span> Asian supermarket chain

Market Place in Hong Kong, Cold Storage Fresh in Singapore and The Marketplace in the Philippines is a high-end supermarket chain owned by DFI Retail Group. The chain also has a joint venture in mainland China with Beijing Hualian Group called BHG Market Place and formerly ran stores in Taiwan until they were sold to Carrefour. The Malaysian chain called Mercató is owned by Macrovalue Sdn Bhd. after its acquisition of DFI Malaysian food retailing business in 2023.

<span class="mw-page-title-main">21 Cineplex</span> Indonesian movie theater chain

PT Nusantara Sejahtera Raya Tbk is the largest cinema chain in Indonesia, serving 46 cities in the country. It was founded on 21 August 1987 as Studio Twenty One.

PT Indomobil Sukses Internasional Tbk, known as Indomobil Group, is a car and motor vehicle manufacturer located in Jakarta, Indonesia. It was founded in 1976 by the unification of the two former competitors PT Indohero and the original incarnation of PT Indomobil. The company operates plants in Jakarta, Bekasi, Bekasi Regency, and Purwakarta Regency.

<span class="mw-page-title-main">Jakarta Outer Ring Road 2</span> Toll Road in Indonesia

Jakarta Outer Ring Road 2 or JORR 2 is a toll road circling the Greater Jakarta area, running roughly parallel with the Jakarta Outer Ring Road in Indonesia. This toll road will connect Soekarno-Hatta International Airport to Cilincing, crossing Tangerang, South Tangerang, Depok, Bekasi, Bekasi Regency. and North Jakarta. It is expected to be able to relieve the traffic of other toll roads in the Greater Jakarta area.

<span class="mw-page-title-main">DMart</span> Indian retail chain of hypermarkets

Avenue Supermarts Limited, d/b/a DMart, is an Indian retail corporation that operates a chain of supermarkets and hypermarkets. The company was founded by Radhakishan Damani and is based in Mumbai. As of March 2024, DMart has 365 stores across 12 states and union territories in India.

<span class="mw-page-title-main">Bakrie Group</span> Indonesian conglomerate corporation

The Bakrie Group is an Indonesian conglomerate founded by Achmad Bakrie in 1942. It has interests across various industries including mining, oil and gas, property development, infrastructure, plantations, media and telecommunications. The group is one of the largest business groups in Indonesia, with 10 companies listed on the Indonesia Stock Exchange.

<span class="mw-page-title-main">Alfamart</span> Indonesian convenience store chain

PT Sumber Alfaria Trijaya Tbk or Alfamart is a primarily-franchised Indonesian convenience store chain. As of June 2023, it has over 18,000 stores in 27 provinces spread across Indonesia, with 4 million daily customers and tens of thousands of micro, small and medium-scale business partners. Alfamart also has about 1,000 outlets in the Philippines. The business was started in December 1989 as a trading and distribution company in Jakarta by its president, Djoko Susanto. Ten years later, Susanto ventured into the convenience store category with Alfa Minimart, with their first branch being in Karawaci, Tangerang, Banten. Later renamed as Alfamart, the convenience store brand has since expanded to the Philippines, with its first Philippine branch located in Trece Martires, Cavite.

PT Surya Citra Media Tbk (SCM) is an Indonesian media and entertainment company. It is owned by Emtek and is based in Jakarta. It operates four television networks: SCTV, Indosiar, Ajwa TV, and Mentari TV, as well as the Vidio streaming service, Nex Parabola satellite pay television, and KapanLagi Youniverse. Surya Citra shares are listed on the Indonesia Stock Exchange.

Samanea Jakarta Market is a wholesale and retail market located in Tangerang New City, Jakarta, Indonesia. It is currently managed and owned by Samanea Group, a developer based in Singapore. It covers an area of 96,000 sqm and was built out of "containers", becoming the first market in Indonesia made of containers. It has 403 retail outlets including restaurants.

<span class="mw-page-title-main">Kreasi Mandiri Wintor Indonesia</span> Indonesian automotive company

PT Kreasi Mandiri Wintor Indonesia (KMWI) is an Indonesian automotive manufacturer. It is a subsidiary of PT Astra Otoparts Tbk.

<span class="mw-page-title-main">GoTo (Indonesian company)</span> Indonesian technology company

PT GoTo Gojek Tokopedia Tbk, trading as GoTo, is an Indonesian technology company. The company was formed in 2021 in a merger — the largest in the country at that time between Indonesia's two most valuable startups, ride-hailing giant Gojek and e-commerce firm Tokopedia.

References

  1. ↑ As of 31 December 2019, 63.59% of all shares outstanding are owned by Mulgrave Corporation BV, and another 24.91% are owned by The Dairy Farm Company Limited. Both are wholly owned indirect subsidiaries of DFI Retail Group Holdings Limited.
  1. 1 2 "PT Hero Supermarket Tbk". Nikkei Asia. Retrieved 2024-01-15.
  2. ↑ Desan, Jayanthi (17 December 2015). "CR Talk - Looking back and ahead". The Sun Daily. Retrieved 25 December 2015.
  3. ↑ "Hero to open more stores". The Jakarta Post. 19 June 2015. Retrieved 25 December 2015.
  4. ↑ Lindvall, Patrik (17 March 2023). "Announcement: PT Hero Supermarket Tbk Full Year 2022 Results" (PDF). DFI Retail Group. pp. 3–5. Retrieved 15 January 2024.
  5. ↑ "2022: Annual Report & Sustainability Report" (PDF). PT Hero Supermarket Tbk. 2022. p. 8.
  6. 1 2 3 4 5 6 Ahsan, Ivan Aulia (15 January 2019). "Sejarah Supermarket Hero: Agar Bule Tak Perlu Belanja ke Singapura". tirto.id (in Indonesian). Retrieved 2024-01-15.
  7. 1 2 3 "Pendiri Hero Lepas 24,54% Saham ke Dairy Farm Rp 255,268 Miliar". detikfinance (in Indonesian). Retrieved 2024-01-15.
  8. ↑ "Hero - Sejarah Perusahaan". www.hero.co.id. Retrieved 2024-01-15.
  9. 1 2 saleh, tahir. "Kisah HERO: Dari Kebayoran, Lippo, hingga Dicaplok Jardine". CNBC Indonesia (in Indonesian). Retrieved 2024-01-15.
  10. 1 2 Mediatama, Grahanusa (2016-02-24). "Hero lepas Starmart ke Family Mart". kontan.co.id (in Indonesian). Retrieved 2024-01-15.
  11. ↑ Mediatama, Grahanusa. "Anak Usaha Wings Group, Family Mart Ekspansi Gerai Kopi Pakai Robot". PT. Kontan Grahanusa Mediatama (in Indonesian). Retrieved 2024-01-15.
  12. ↑ "Hero - Press Release: Kesepakatan Bersama antara PT Hero Supermarket Tbk (HERO Group) dengan PT Fajar Mitra Indah (Family Mart) mengenai Peralihan Sebagian Besar Gerai Starmart kepada FamilyMart". www.hero.co.id. Retrieved 2024-01-15.
  13. ↑ "Navigating the shifts in consumer behavior in Indonesia". NIQ. 2023-05-22. Retrieved 2024-01-15.
  14. ↑ Sandi, Ferry. "2021 Banyak Ritel Bertumbangan: Giant Tutup Selamanya di RI!". CNBC Indonesia (in Indonesian). Retrieved 2024-01-15.
  15. 1 2 3 4 5 Indonesia, Bisnis. "CEO HERO Patrik Lindvall : Ini Adalah Jalan Terbaik - Bisnis Indonesia". Bisnisindonesia.id (in Indonesian). Retrieved 2024-01-15.[ permanent dead link ]
  16. 1 2 Timorria, Iim Fathimah (2022-12-05). "Usai Tutup Giant, Ini Bocoran Ekspansi Pengelola HERO dan IKEA pada 2023". Bisnis.com (in Indonesian). Retrieved 2024-01-15.
  17. ↑ Sandi, Ferry. "2021 Banyak Ritel Bertumbangan: Giant Tutup Selamanya di RI!". CNBC Indonesia (in Indonesian). Retrieved 2024-01-15.
  18. ↑ HERO Alihkan Bisnis Makanan, Fokus ke IKEA dan Guardian
  19. ↑ Hero (HERO) Lego Bisnis Ritel Supermarket Rp183M, Ini Alasannya
  20. ↑ Hero Supermarket Akan Ganti Nama, Fokus Investasi ke Guardian dan IKEA
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.