PT Hero Supermarket Tbk (HERO) will focus its investment on developing IKEA, Guardian, and Hero Supermarkets with higher growth potential than Giant.

"Therefore, the company will convert up to five Giant outlets into IKEA. This is done as part of the company's new focus, "said Director of HERO, Hadrianus Wahyu Trikusumo, in the IDX disclosure on Tuesday (25/5).

He added that other Giant outlets in Indonesia would be closed at the end of July 2021.

In addition, the company is also considering adding several Giant outlets to Hero Supermarket outlets.

"This strategic change is a quick and precise response the company needs to adapt to changing market dynamics, especially in relation to the shift of Indonesian consumers from the hypermarket format in the last few years," he explained.

He hopes that the plan will positively impact operational activities, financial conditions, and the company's business continui