Lotteria Completely Withdraws from Indonesia After 9 Years

[Asia Economy Reporter Hyungsoo Park] Lotteria has decided to completely withdraw from the Indonesian market nine years after its entry. Lotteria Indonesia stores have suspended operations due to the impact of the novel coronavirus disease (COVID-19).

According to Lotteria on the 20th, 16 Lotteria stores in the Jakarta metropolitan area will close as of the 29th. One Angel-in-Us Coffee store will also be closed.

Lotteria announced through SNS the day before, "We announce the closure with a heavy heart," and expressed gratitude for "the trust and sweet memories given to Lotteria over the past nine years."

Previously, Lotteria opened its first store in Indonesia in October 2011 at Lotte Mart Klapa Gading in Jakarta. Including the coffee specialty store Angel-in-Us Coffee, it operated up to 35 stores.

Lotteria struggled in Indonesia's fast food market, where global brands such as KFC and McDonald's had already secured dominance. KFC and McDonald's local market share reached 80%.

Lotteria explained, "The COVID-19 crisis was the final blow," adding, "It was difficult to endure after suspending all operations for nearly three months."

This content was produced with the assistance of AI translation services.