Matahari (department store)

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]

For other uses, see Matahari (disambiguation).
PT Matahari Department Store Tbk
TypePublic
IDX: LPPF
ISINID1000113301
Industryretail 
FoundedOctober 24, 1958 (1958-10-24)
Headquarters
Tangerang
,
Indonesia
Number of locations
155 across Indonesia
Key people
BrandsMatahari
ServicesDepartment store
Revenue
  • IDR 10.245 Trillion (2018)
  • IDR 1.566 Trillion (2018)
  • IDR 1.097 Trillion (2018)
Total assets
  • IDR 5.036 Trillion (2018)
Total equity
  • IDR 1.815 Trillion (2018)
Website
Matahari Department Store at "Mal Bali Galeria" Shopping Mall in Bali, Indonesia

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. It currently operates 153 stores in 76 cities across Indonesia, with a total retail space of almost one million square meters; it also operates an online store.

In 2020, due to COVID-19 pandemic, Matahari was forced to close all of its operations to comply with the government's large scale social restriction policy. In their attempt to reduce financial burdens, Matahari furloughed 5,623 of its employees, and introduced 50% pay cuts to 12,080 employees.[2] In August 2020, the company reported a Rp. 358 billion net loss for the first half (Q1 & Q2) of 2020.[3]

Notes
  1. Matahari Department Store Tbk 2014, p. 6.
  2. saleh, tahir. "Matahari Rumahkan 5.623 Staf, Pangkas Gaji 12.080 Pegawai". market (in Indonesian). Retrieved 2020-10-22.
  3. cnn. "Matahari Rugi Rp358 Miliar pada Semester I 2020 karena Corona". ekonomi (in Indonesian). Retrieved 2020-10-22.

References

See also

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


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