Home furnishings retailer Ikea has signed a franchise agreement with the Indonesian publicly listed retail conglomerate PT Hero Supermarket. “Ikea gives rights and responsibilities to [Hero] to open and operate Ikea stores in Indonesia,” a statement to the Jakarta Stock Exchange revealed, without providing details on the investment value and store locations. “[Hero] must establish Ikea stores according to the agreed quantity starting from 2014 to 2021. There are possibilities to increase the number of Ikea stores after the period ends.”

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