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French sports goods major to invest in Indonesia
18
Mar '16
A French sports goods and apparel company is planning to invest $500 million in Indonesia, underlining growing interest from European businesses to invest in the country, a leading Indonesian newspaper has reported.

Investment Coordinating Board (BKPM) chairman Franky Sibarani said the Lille-based company, the name of which was not disclosed, had conveyed its interest through BKPM's representative in London. Despite Franky not naming the company, it is widely believed that it is Decathlon which is the entity.

Franky added the French company would cooperate with local companies to build a sports research and development centre, an integrated department store as well as an import-export system in Indonesia.

"Not only will the company market its products domestically, it will also export to other department stores overseas," Franky said in an official statement.

BKPM sees France as one of the top prospects from where to source more investment. The latest plan would see a huge increase from that country, which last year contributed only Rp 123 billion to foreign investment.

Based on this trend, Franky expressed hope for solid growth. "We will gradually increase investment from Europe in five years."

"Our representative in London and marketing officers all over Europe will directly communicate all the facilities [the investors] would get when investing in Indonesia," Franky said.

Meanwhile, BKPM's investment promotion representative in London, Nurul Ichwan, said the French investor was a big name in sports, with 1,030 department stores worldwide. "It expects to operate its first department stores in Malaysia and Indonesia this year," he said. (SH)

Fibre2Fashion News Desk – India

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