LippoShop invests Rp 100b

Thu, 05 Oct 2000, 00:00 WIB | Source: JP

JAKARTA (JP): LippoShop, an online shopping operator jointly
owned by PT Lippo Online and retail chain Matahari Putra Prima,
will spend about Rp 100 billion (about US$11.7 million) in
investments during the first year of operation.

The company's president Teddy H. Setiawan said that a larger
part of the investment funds would be allocated to purchase
technology and equipment.

"LippoShop, in an initial stage, will be able to distribute
11,500 items of goods to more than 8,000 consumers in the Greater
Jakarta area," he said at the launching of the company on
Wednesday.

He said that the company, which recently took over local
online shopping operator PT Dial Mart, was projected to book
total sales of about Rp 229 billion in 2001. (hen)

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