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Indonesia's Hero to close most hypermarkets as landscape changes

Retailer instead plans to increase Ikea franchise outlets to meet new demand

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. (File photo by Keichiro Asahara)

JAKARTA -- 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.

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