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.
[Matahari Department Store Tbk 2020, p. 6-7]
History
The Company was established on October 24, 1958, with the opening of a children's fashion store in Jakarta's
Pasar Baru
Pasar Baru is an kelurahan, subdistrict () in the Sawah Besar Districts of Indonesia, district () in Central Jakarta, Indonesia. It has postal code of 10710.
History Founding of Pasar Baru
Pasar Baru is also the name of a 19th-century market whi ...
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 143 outlets in 80 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.
References
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Department stores of Indonesia
Retail companies established in 1958
Indonesian brands
Companies based in Tangerang
Companies listed on the Indonesia Stock Exchange
Companies in the LQ45
1958 establishments in Indonesia
2009 initial public offerings