Cosmetics and healthcare manufacturer from China, Longrich Bioscience, is eyeing the ecommerce market in Indonesia as reported by Bisnis.com. The company feels optimistic about its venture in the country as it sets a monthly target of $300,000 sales per month by 2017 and $1 million of sales per month in the next five years.
Longrich International President, Charlie Chin said that the company is confident with its target as the economy in Indonesia is getting stronger and people’s purchasing power in the country will continue to increase.
The company is not alone in their opinion, back in June, Chinese investors have also expressed their confidence in Indonesia’s future business outlook.
Longrich eyes markets beyond Java
Longrich has been operating in Indonesia since 2013 and has seen a positive growth in the last 1.5 years. General Manager of Longrich Indonesia, Thamrin Slamet claimed that the sales growth has reached 120%.
In addition to producing its own line of products, the manufacturer also serves other brands such as GlaxoSmithKline (GSK) who owns the toothpaste brand Sensodyne.
Indonesian big cities like Jakarta and Surabaya are the main markets for Longrich’s variety of products but the company will not only focus on Java, Indonesia’s most populous island. It has a business center in Medan, North Sumatera. It also serves the people in Palembang and big cities in eastern Indonesia.
Globally, Longrich is present in 15 countries and recorded $167 million in revenue globally in 2015.
A version of this appeared in Bisnis.com on August 14. Read the full article in Bahasa here.