A person with a sharp mind and plain talking manner, Ingrid Pribadi, CEO and co-founder of publicly listed PT Electronic City Indonesia Tbk, is always on the lookout for any opportunity and idea to improve the performance of the company she has built from scratch in 2011. Born in a family where entrepreneurial spirit runs deep in the family gene and educated in the U.S., Ingrid saw the niche opportunity in providing the Indonesian consumer electronics market with a modern shopping environment supplemented by value-added services dedicated to serving the fast growing middle and affluent consumers where shoppers can comfortably choose from a wide range of the best and latest products at competitively set prices.
Ingrid built her first store with a bare bone capital on a piece of leased land at the prime Sudirman Central Business District in Jakarta. This was a bold move for a new comer in an industry where traditional wisdom dictated that consumers of electrical and electronic appliances would always go to traditional Mom and Pop stores which were mostly located in the old parts of the town where access was daunting due to heavy traffic congestion even back then. Over the subsequent years, Ingrid formed a core team to build and grow the business one step at a time, learning from mistakes but never succumbing to any difficulties along the way.
Through those rough years in the beginning, Ingrid steadfastly insisted on maintaining the highest level of integrity towards all her stakeholders who include the customers, principal suppliers, employees and the relevant authorities. She personally attended to matters that would be crucial to the development of the company’s business such as relationships with principal suppliers, store designs and lay-out, employees’ benefit packages, selection of IT system, yearly targets setting, individual department’s KPI’s and budget setting and monitoring. She has been meticulous in ensuring that everything goes in accordance to plan and if not, knowing the root causes and setting out to implement the remedial measures as early as possible.
Business-wise, her break came in 2009 when the company’s business had grown to a sizeable scale which enabled her to negotiate a better trading term from, at first, one principal supplier which was subsequently followed by all the other principal suppliers, which resulted in significantly improved financial performance of the company in a sustainable manner and provided the basis for the company to expand its store network to a scale that prompted her and her partners to decide to bring the company to the next level of development by listing the company on the Indonesian Stock Exchange, on the 3rd July 2013.
The company is currently the largest player in the modern retail segment of the Indonesian electronics market with store net
work of 63 stores and 11 warehouses in 12 major cities across Indonesia carrying more than 250 major brands in electronic products from around the world. It has over the years won numerous prestigious awards including Top Brand, Superbrand, Corporate Image, Social Media and Best Issuer Awards. Over the past 3 years the company has recorded impressive growth with double digit CAGR in sales revenues (2013 revenues Rp2.013 Trillion) and currently employing 898 staffs. Plans for future growth involve 2 major strategies which are constantly under contemplation. The first such strategy involves organic development by way of network expansion and efficiency improvements, while the second involves inorganic growth through possible M&A for which the key driving factors would be economic as well as efficiency considerations.
Ingrid is a person of endless energy and resources. Despite her busy daily schedule, she will always manage to set aside time for gym session and maintain close contacts with key people in various industries. It is not unusual that she comes up with very innovative ideas after discussions with people in possibly very different industries. Her guiding principle in life is to uphold the value of trust and dependability in everything that she does at all cost, and she has insistently demanded that the corporate culture of the company must entail such values.
Her favorite phrase is “Commitments and responsibilities are non-negotiable aspects of life and the keys to success. We take care of these and God will take care of the rest.” Ingrid is also a people person and a good communicator. She is keen to develop close personal relationship with each managerial as well as staff members in her company and she takes the well being of their family her personal concerns. To Ingrid, quality relationship is paramount, and that extends to the people around her including those from friends to employees. She encourages her employees to determine their ability to be successful in the future.
Ingrid’s ultimate vision for the company is to be the leading electronic retail company in Indonesia within the next 10 years covering both online as well as physical retail business with a lion’s share of the entire Indonesian electronic retail market which is estimated to be worth approximately equivalent to US$21billion in 2013. To achieve that goal, Ingrid has set the company and the management out to do everything including preparing the human, financial and technical resources that are needed to form a solid base for the challenging task. The next few years will be an interesting time to see and observe a gradual but solid transformation of a mid-cap company into a business behemoth that would easily be a regional powerhouse in Asia Pacific.