Matahari (department store)

PT Matahari Department Store Tbk
	Logo since October 2022
Company type	Public
Traded as	IDX: LPPF
ISIN	ID1000113301
Industry	Retail
Founded	24 October 1958; 66 years ago
Headquarters	Menara Matahari, Tangerang Regency, Banten, Indonesia
Number of locations	147 across Indonesia
Key people	Monish Mansukhani (CEO); Andy Adhiwana (Chairman);
Revenue	IDR 4,917 Billion (9M 2024);
Operating income	IDR 998 Billion (9M 2024);
Net income	IDR 622 Billion (9M 2024);
Total assets	IDR 4,743 Billion (30 Sep 2024);
Total equity	IDR 112 Billion (30 Sep 2024);
Owners	Public (48.24%); Auric Digital Retail (42.47%); Multipolar (9.29%);
Website	matahari.com

PT Matahari Department Store Tbk, commonly known as Matahari, is the largest retail platform in Indonesia with stores located across the country and online presence on Matahari.com.^[1]

History

The Company was established on October 24, 1958, with the opening of a children's fashion store in Jakarta's Pasar Baru district; the first proper Matahari outlet was opened in 1972, considered as the first modern department store in the country.

Since July 14, 2021, the majority and controlling shareholder of Matahari Department Store Tbk has changed to Auric Digital Retail Pte. Ltd. Meanwhile, Multipolar remains one of the main shareholders. The rest are other investors. Currently, Matahari operates 147 outlets in 81 cities throughout Indonesia.

Project Sunrise

In 2022, during Q4 2021 Earnings presentation, Matahari announced its store classification in four store concepts to capture the highest potential whitespaces throughout Indonesia. Store Network Optimization becomes part of the Project Sunrise, a five-year roadmap.^[2]^[3]^[4]

References

^ Matahari Department Store Tbk 2020, p. 6-7
^ "Q4 / FY 2021 EARNINGS CALL" (PDF). Archived from the original (PDF) on 4 March 2022.
^ "MATAHARI MEMBUKUKAN EBITDA Rp 1,3 TRILIUN MESKIPUN KUNJUNGAN MALL BELUM KEMBALI KE TINGKAT PRA-PANDEMI" (PDF). Archived from the original (PDF) on 4 March 2022.
^ "Matahari Department Store Tambah 10 Gerai pada 2022 - Saham Liputan6.com". m.liputan6.com. Retrieved 2022-03-04.

[mds1-1] Matahari Department Store Tbk 2020, p. 6-7

[2] "Q4 / FY 2021 EARNINGS CALL" (PDF). Archived from the original (PDF) on 4 March 2022.

[3] "MATAHARI MEMBUKUKAN EBITDA Rp 1,3 TRILIUN MESKIPUN KUNJUNGAN MALL BELUM KEMBALI KE TINGKAT PRA-PANDEMI" (PDF). Archived from the original (PDF) on 4 March 2022.

[4] "Matahari Department Store Tambah 10 Gerai pada 2022 - Saham Liputan6.com". m.liputan6.com. Retrieved 2022-03-04.

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