Salim Group and Lotte Group officially launched iLotte

Indonesia's Salim Group and South Korea's Lotte Group officially announced a joint venture of Indo Lotte Makmur to operate e-commerce services under the iLotte brand. Two Asian conglomerates on Tuesday announced the official launch of online shopping site in Indonesia.

Salim Group and Lotte Group officially launched iLotte

"iLotte is an e-commerce company that will revolutionize consumer shopping and the first to offer an online mall concept," said iLotte CEO Philip Lee.

The online shopping site offers a wide selection of top-notch products in the areas of fashion, beauty and health, mother and child needs, electronics and household needs, sports and hobby needs, and food and beverages.

Salim Group and Lotte Group invest US$100 million to build applications downloaded to Android and iOS phones. The platform provides products from well-known brands, including Shiseido, Alleira, Damn I Love Indonesia, Volkswagen, Piaggio-Vespa, Audi, Apple, Acer, Canon, Fuji Film, Nike to Samsonite.

Lee said iLotte would take advantage of Salim Group's extensive distribution network and strong logistics infrastructure with the strength of Lotte Group's retail business. iLotte has a vision as one of the strongest contributors in the e-commerce industry in Indonesia.

"iLotte is poised to become a retail and trend shopping center hoping to capture the market share of the e-commerce industry in Indonesia by 2020 which is projected at US$20 billion," Lee said.