Heaptalk, Jakarta — Ace Hardware announced to cease its operations, after its 29 years presence in Indonesia. The company’s shareholders have agreed not to renew the license for the American trademark from Illinois. They also confirmed the decision to rebrand the company under a new name, PT Aspirasi Hidup Indonesia Tbk (ACES).
The Director of PT Aspirasi Hidup Indonesia Tbk, Gregory Widjaja, said this measure aligned with the company’s future business development focus to respond to market trends and consumer preferences. The company is preparing to launch its new brand identity, which will be introduced to the public in early 2025.
“We are confident that our well-prepared efforts will allow the company to maintain its market leadership, strengthen its competitiveness in the retail industry, stay relevant to customer needs, and create a greater positive impact for all stakeholders,” said Gregory.
In its latest financial report, Ace Hardware posted positive performance during the first half of 2024, recording a net profit of Rp366 billion, up 21% compared to last year. ACES’ revenue also grew by 14%, reaching Rp4.1 trillion during the first half of 2024. The company recently opened ten new stores in six regions, including Banda Aceh, Banyuwangi, Tanjungpinang, Palopo, Ternate, and Garut. With these latest additions, ACES now operates 241 stores across 73 cities in Indonesia.
