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South Korea's Lotte, Indonesia's Salim JV enters e-commerce market

PT Indo Lotte Makmur, a joint venture by South Korean company Lotte Shopping Co. Ltd. and Indonesian conglomerate Salim Group, entered the e-commerce market in Indonesia with its iLotte unit, The Jakarta Post reported Oct. 10.

Steven Calvin Victory Tjong, Indo Lotte's deputy president director, reportedly said Lotte and Salim initially invested $100 million in iLotte, an e-commerce company that sells items such as apparel, food and automotive directly from brands.

iLotte's portal and mobile app feature products from brands including Shiseido Co. Ltd., ELLE, Alleira, JYSK, JBL, AB Electrolux, Volkswagen, Audi and Piaggio's Vespa, according to Indo Lotte's President Director Lee Jae-Kwan.

Food and beverage products ordered via iLotte are provided by the nearest Lotte Mart through local producers such as Pesona Nusantara.