Ace Hardware Indonesia

Summary
PT Ace Hardware Indonesia Tbk, together with its subsidiaries, engages in the retail of household appliances and lifestyle products in Indonesia. It operates through Home Improvement Products, Lifestyle Products, and Toys Products segments. As of December 31, 2021, it operated 216 retail outlets located in Jakarta, Tangerang, Cilegon, Bekasi, Karawang, Bogor, Depok, Cirebon, Bandung, Sumedang, Tasikmalaya, Gresik, Yogyakarta, Semarang, Solo, Purwokerto, Tegal, Surabaya, Malang, Jember, Kediri, Madiun, Aceh, Bali, Medan, Batam, Padang, Pekan Baru, Palembang, Jambi, Bengkulu, Lampung, Balikpapan, Makassar, Banjarmasin, Pontianak, Manado, Maluku, Samarinda, Kupang, Lombok, Kendari, Pangkal Pinang, Mojokerto, Gorontalo, and Riau. The company was formerly known as PT Ace Indoritel Perkakas and changed its name to PT Ace Hardware Indonesia Tbk in August 2001. The company was founded in 1995 and is headquartered in Jakarta, Indonesia. PT Ace Hardware Indonesia Tbk is a subsidiary of PT Kawan Lama Sejahtera.

History

In 1924, to increase buying power and profits, entrepreneurs Richard Hesse, E. Gunnard Lindquist, Frank Burke and Oscar Fisher united their Chicago, Illinois, hardware stores into "Ace Stores". The company was named after the ace fighter pilots of World War I, who were able to overcome all odds. Ace Stores was incorporated in 1928, and the company opened its first warehouse a year later. In 1931, the name was changed to Ace Hardware Corporation.By the end of the 1940s, Ace had wholesale sales of more than $7 million from the 133 stores it supplied. By its 35th anniversary in 1959, the company had more than tripled this figure, with wholesale sales of $24.5 million from 325 stores.Founder and longtime president Richard Hesse retired in 1973. The company was thereafter sold to its retailers and restructured as a cooperative, moving its headquarters to Oak Brook, Illinois. Independent retailers became the exclusive shareholders in the company. The strategy proved successful, and Ace surpassed $1 billion in wholesale sales for the first time in 1985; it went on to pass $5 billion in 2015.In 2012, Ace Hardware acquired its largest member, Westlake Ace Hardware, for $88 million. The following year, Ace's president and CEO John Venhuizen launched 20/20 Vision, a strategy to use network power to provide better customer service. As of 2016, J. D. Power has ranked Ace Hardware "Highest in Customer Satisfaction with Home Improvement Retail Stores" for ten consecutive years.In 2014 and 2015, Ace launched its wholesale distribution network through the acquisition of the Portland, Maine, based Emery-Waterhouse and the Spokane, Washington based Jensen Distribution Services. Later that year, Ace expanded its wholesale operations coast-to-coast with the formation of Emery Jensen Distribution, LLC. This new distribution arm operates under Ace Wholesale Holdings LLC, a subsidiary of Ace Hardware Corporation, and is dedicated to serving non-Ace Hardware independent retailers.


Mission
To be the best provider of products, services and operating methods for convenience hardware retailers around the globe.

Vision
To be the best, most helpful hardware stores on the planet.

Key Team

Ms. Helen Riyani Tanzil (Head of Investor Relations Division & Corp. Sec.)

Mr. Petrus Rudy Prakoso (Head of Internal Audit)

Mr. Sugiyanto Wibawa (Bus. Devel. Director & Non-Affiliated Director)

Ms. Dewi Triana Saleh (Director of Information Technology & Director)


Recognition and Awards
Ace Hardware Indonesia has numerous awards, including multiple recognitions for customer service, and top awards in Indonesia's construction and building industry.

References
Ace Hardware Indonesia
Leadership team

Mr. Prabowo Widyakrisnadi (Pres Director)

Mr. Gregory Sugyono Widjaja (Director of Fin. & Director)

Mr. Suharno Tan (Director of Operational & Director)

Products/ Services
Consumer, Hardware, Manufacturing, Retail
Number of Employees
1,000 - 20,000
Headquarters
Jakarta, Jakarta Raya, Indonesia
Established
1995
Net Income
20M - 100M
Revenue
100M - 500M
Traded as
ACES.JK
Social Media
Mon Feb 26 2024
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