| PT Matahari Department Store Tbk | |
| Type: | Public |
| Industry: | Retail |
| Hq Location: | Menara Matahari |
| Location City: | Tangerang Regency, Banten |
| Location Country: | Indonesia |
| Locations: | 148 across Indonesia |
| Owners: |
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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]
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 148 outlets in 81 cities throughout Indonesia.
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]