ACES — To use a new name in 2025

ACES — To use a new name in 2025 Aspirasi Hidup Indonesia (ACES) will introduce and use a new store' name, starting early 2025 after the company ended its licensing agreement with ACE Hardware International Holdings. ACES assured that its business model will remain unchanged, focusing on strengthening its product portfolio and expanding across Indonesia with innovative store concepts and enhanced digital infrastructure. This move is expected to reduce costs significantly, particularly from the elimination of royalty payments, which amounted to IDR40.2 bn in 2023. Note that, as of 1H24, ACES recorded a 13.7% yoy increase in net sales to IDR4.13 tn and a 20.9% yoy rise in net profit. (Source : Kontan)