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Indonesia has sealed three Tiffany & Co. stores in Jakarta on suspicion of import violations, part of a broader crackdown on undeclared high-value goods under the administration of President Prabowo Subianto.
Customs authorities on Wednesday sealed the stores in three luxury shopping malls in the Indonesian capital pending checks on whether the company had paid levies on imported goods, customs enforcement official Siswo Kristyanto was cited as saying by local news outlets including Detik.
Officials in Southeast Asia’s largest economy have stepped up enforcement against illegal imports, part of a broader Finance Ministry push to protect domestic markets and plug revenue leaks as Prabowo rolls out costly flagship programs, including a free-meals initiative.
Finance minister Purbaya Yudhi Sadewa said Thursday that the closures were an example of efforts by the directorate general of customs and excise to help secure state revenues and to ensure the local market is clean of illegal goods, the local media reported.
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Customs officials are reconciling store inventory against import declaration documents, and local media have reported potential administrative penalties if violations are proven.
LVMH Moët Hennessy Louis Vuitton, owner of Tiffany & Co., didn’t immediately respond to a request for comment.
By Norman Harsono
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Disclosure: LVMH is part of a group of investors who, together, hold a minority interest in The Business of Fashion. All investors have signed shareholders’ documentation guaranteeing BoF’s complete editorial independence.
