ACES - Intensifying competition as Ace Hardware re-enters Indonesia

ACES - Intensifying competition as Ace Hardware re-enters Indonesia Aspirasi Hidup Indonesia (ACES), operating under the AZKO brand, is set to face intensifying competition in 2026 following the return of Ace Hardware to Indonesia under a different operator. ACES continues its rebranding to AZKO, expands its store network (targeting up to 30 new stores in 2025), and focuses on omnichannel capabilities and customer experience to defend market share. Despite a 16.2% YoY decline in net profit to IDR 481 bn in 9M25 amid weaker consumer demand and higher marketing costs, management remains confident in AZKO’s positioning and long-term fundamentals. Overall, this development is viewed as neutral to slightly negative, with competitive pressure balanced by AZKO’s scale, brand transition, and expansion strategy. (Source : Bisnis Indonesia)