ACES — A 11.1% yoy SSSG despite license expiration

ACES — A 11.1% yoy SSSG despite license expiration Aspirasi Hidup Indonesia (ACES) reported solid same-store sales growth (SSSG) of 11.1% yoy in August 2024, surpassing annual target of 7% growth. Despite positive sales performance, ACES faces a significant transition after deciding not to renew its long-standing license agreement with ACE Hardware International Holdings, which ends in December 2024. ACES has initiated a rebranding process, including changing its name and logo, and plans to unveil a new brand identity in early 2025. As ACES navigates this shift, management remains optimistic due to ACES's potential growth driven by domestic consumption and expansion strategies. (Source : Bisnis Indonesia)