Matahari (department store)

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PT Matahari Department Store Tbk

Matahari logo since 2008
Type	Public
Traded as	IDX: LPPF
ISIN	ID1000113301
Industry	retail
Founded	October 24, 1958 (1958-10-24)
Headquarters	Tangerang , Indonesia
Number of locations	155 across Indonesia
Key people	Terry O'Connor (CEO) John Bellis (Chairman)
Brands	Matahari
Services	Department store
Revenue	IDR 10.245 Trillion (2018)
Operating income	IDR 1.566 Trillion (2018)
Net income	IDR 1.097 Trillion (2018)
Total assets	IDR 5.036 Trillion (2018)
Total equity	IDR 1.815 Trillion (2018)
Website	[1]

PT Matahari Department Store Tbk, doing business as Matahari, is an Indonesian company working in the retail business for several types of products such as clothes, accessories, bags, shoes, cosmetics, and household appliances, which provides management consulting service.^[1]

PT Matahari Department Store Tbk (“Matahari” or “Company”, stock code “LPPF”) is a pioneer of department store format in Indonesia and currently the biggest retail company which operates 147 stores in 76 cities and having its operational head office (“support centre”) located at Menara Matahari, Karawaci, Tangerang, Indonesia. For more than 60 years, the Company is committed to offer outstanding value, fashion-forward merchandise to meet all our customers' needs and preferences. We develop our exclusive brand as the critical factors distinguishing Matahari from other department store operators. In the meantime, we keep our merchandise portfolio fresh, exciting, and relevant to our customers, as well as partnering with leading local and international brands. Matahari built its business on a simple proposition: making people feel good by offering them great fashion at affordable prices in a welcoming, exciting shopping environment since the first time. That’s how the feel good culture become stronger year by year. In this digital era, we capitalize digital technology through the omni-channel retail experience. Acknowledging the importance of physical shopping experience and online presence, the pandemic has accelerated and highlighted an increasing demand for the omni-channel retail experience to serve consumers. In order to deliver a seamless omni-channel shopping experience, in 2020 Matahari has opened its online channel, namely Matahari.com, Social Commerce Shop & Talk, as well as official store in marketplace, such as Shopee. We also deliver our message and customer engagement through social media such as Matahari YouTube channel and Instagram @matahari. With regard to the physical shopping experience, a bright, fresh, modern, well-designed, and spacious store will bring the overall beneficial impact on the Company’s stores. Moreover, we regularly re-model each store to accommodate a new-store concept or respond to new competition in the store's catchment area. Through innovative and impactful display concepts in each store, we aim to gain more attraction for Matahari’s exclusive brands. A strong corporate culture based on trust, integrity, cooperation and respect is a pivotal aspect to support the Company’s performance and sustainability over the years, enabling all of our employees to take pride in being part of the organisation. The Company adopts the corporate culture values from the withstanding Company’s philosophy which existed since the early days of the Company and the management believes that this strong corporate culture will not be eroded by the time.

History[]

The journey of Matahari began with its first store in Pasar Baru, Jakarta, which was opened on 24 October 1958 and specialized in children’s apparel, founded by Mr. Hari Darmawan. The Company transformed Indonesia’s retail landscape by opening the country’s first modern department store in 1972. The establishment of PT Matahari Putra Prima Tbk (MPP) in 1986 was followed by the Company’s initial public offering in 1992. On 30 October 2009, Matahari was spun off from MPP to become a new entity, changing its name to PT Matahari Department Store Tbk. At 2008, Matahari creates a loyalty membership for its customers called as Matahari Club Card, now called as Matahari Rewards, and now became the biggest loyalty membership in Indonesia. Matahari’s reputation as one of Indonesia’s best-performing and most trusted companies is reflected in its growing collection of national and international industry awards, including, in 2018, being one of Brand Asia’s Top 3 Retail Brands in Indonesia (Nikkei BP Consulting, Inc) and winning IICD’s Best Equitable Treatment of Shareholders Award based on the ASEAN Corporate Governance Scorecard (Indonesian Institute of Corporate Directorship). Despite having a tough year during this COVID-19 pandemic, Matahari’s good performance still maintained proven by the year 2020, Matahari get Top 10 Mid-Capitalization Public Listed Company and 3rd Winner as Best Non-Financial Sector at the 12th IICD Corporate Governance Conference and Award.

Notes[]

References[]

• PT Matahari Department Store Tbk.
• Company website (2020) : http://www.matahari.co.id/about
• ONLINE SHOPPING MATAHARI.COM : https://www.matahari.com/

See also[]

(Below were brands associated with Matahari brand) https://www.matahari.com/brands

External links[]

• PT Matahari Department Store Tbk
• Shopping online www.matahari.com

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