PT Fortune Star signs management contract with Naluri Group

Gavin Lipsith

After a long search for a management partner, Fortune Star believes the Malaysian group will help achieve its ambitious expansion plans

Indonesian airport retailer PT Fortune Star has announced that it has signed a management agreement with Naluri Group, which operates eight duty-free stores in Malaysia under the Zon Duty Free fascia. The news follows Fortune Star’s earlier attempt to partner with Regent Asia Philippines, parent company of Landmark Duty Free, which failed during final negotiations.

Fortune Star president John Halim said the venture was Naluri’s first outside Malaysia since it took over the Zon Duty Free business in December 2005. He added: “Very soon we will venture into downtown duty-free, and also to Bali and Batam islands. As [Naluri Group] has a strong financial background, I trust the business will run smoothly.”

Fortune Star operates duty-free outlets across Indonesia, with its main retail business located at Jakarta Sukarno-Hatta International airport.