Indonesia's Hero to shut down most hypermarkets as landscape changes

Indonesia's Hero to shut down most hypermarkets as landscape changes

Major Indonesian retailer Hero Supermarket said it would close most of its Giant-branded hypermarkets and convert some into outlets of Ikea, the Swedish brand it runs under a franchise agreement.

Major Indonesian retailer Hero Supermarket has announced that it intends to close most of its hypermarket outlets over the next two months, as the coronavirus pandemic leads to intensified competition from e-commerce and convenience stores.