An executive director in the Lippo Group, Mr John Riady spearheads the family business' e-commerce drive.<\/p>\n
The group, whose chairman is Mr Riady's grandfather Mochtar Riady, has diverse interests in areas such as property, media,
\nhospitals, education, cinemas and now e-commerce, among others. The family's net worth is about US$2.5 billion (S$3.4 billion),
\naccording to Forbes.<\/p>\n
Mr Riady, 30, is the most visible of the new generation of leaders. He has been editor at large at the Jakarta Globe daily and
\nexecutive dean at the Lippo-run Pelita Harapan University, and has participated in or was a moderator at events such as the
\nWorld Economic Forum.<\/p>\n
Born in New York, he returned to Indonesia when he was four.<\/p>\n
After graduating from Georgetown University with majors in political philosophy and economics, he pursued an MBA at the Wharton
\nSchool of Business and, later, a law degree at Columbia University.<\/p>\n
In February, he fronted the announcement of Lippo's US$500 million investment in e-commerce site MatahariMall, which is touted
\nto become the \"Alibaba of Indonesia\". Projected online and offline sales are US$25 billion after five years. \"Online commerce is
\na US$100 billion opportunity,\" Mr Riady said.<\/p>\n
Speaking to The Straits Times, he said a digital revolution is about to sweep through all markets and industries in Indonesia.<\/p>\n
\"We must adapt and change at a faster speed than ever. Existing businesses must strive to pioneer this change or risk being left
\nbehind. MatahariMall.com, our e-commerce venture, is one of our major initiatives to dive into this new economy,\" he added.<\/p>\n
Businesses must also think beyond Indonesia, said Mr Riady, whose wife is Singaporean. \"Indonesian companies should be looking
\nto export their know-how and expertise to these countries,\" he said, referring to emerging markets such as Myanmar, Cambodia and
\nVietnam.<\/p>\n
While the Indonesian economy is facing a slowdown, Mr Riady said it is now up to the younger generation to take charge and help
\nsteer the country.<\/p>\n
\"I'm optimistic that in the medium to long term, the economy will rebound... But while I believe in the long-term economic
\nprospects of the country, what keeps me here is the privilege of being able to participate in the development of the community
\nand those around me.<\/p>\n
\"Economically, there are opportunities everywhere in the world but, for me, being able to do this in Indonesia is special.\"<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/riady-to-ride-wave-of-digital-commerce", "image": "john-riady.jpg" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }