JAKARTA. PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) aims to expand its business via wholesalers and retailers of up to 150,000 merchants. SIDO then allocates capital expenditure (CapEx) of IDR 210 billion this year to help attaining the goal.
Leonard, Financial Director of Sido Muncul, claimed that the CapEx would be utilised heavily to expand the domestic distribution scale and formulate new products. The enhancement on the distribution scope is intended to fill in for the inactivity outside Java.
Up until 2021, the total distribution outlet of SIDO clocked up to 135,000 merchants, both wholesalers and retailers. It will then be boosted to 150,000 merchants this year, as Leonard confirmed during the virtual discussion this week.
SIDO also aims to launch three products in variants of healthy drinks and herbal supplements. The company also focuses to sustain online sales, maximising online marketplaces and social media.
Furthermore, SIDO sets the target of export sales contribution to the revenue to 5%-7%. It is higher than the 4% reported in 2021. In 2022, SIDO will set its eyes on four primary export destinations: Malaysia, the Philippines, Nigeria, and France. (AM/ZH)