Matahari Department Store Owned By Conglomerate Mochtar Riady Wants To Add 5 More New Outlets, Planned To Be Inaugurated In September-November 2022

JAKARTA - Retailer of the Lippo Group owned by conglomerate Mochtar Riady, PT Matahari Department Store Tbk (LPPF) is expanding its business by planning to open five more new outlets from September to November this year.

Terry O'Connor, CEO of Matahari Department Store, said the outlets will be located in Gowa (South Sulawesi), Bondowoso (East Java), Semarang (Central Java), Kendari (Southeast Sulawesi) and Bontang (East Kalimantan). These outlets are the fourth to eight outlets opened this year, after opening two new outlets at Taman Anggrek Jakarta Mall and Ambarrukmo Yogyakarta Plaza, as well as one new outlet in Tang City Banten which will open in August.

"New outlets in Gowa will open in September, Bondowoso, and Semarang in October, and Kendari and Bontang in November. These openings are in line with Matahari's plan to accelerate expansion both in big cities and in new cities that are developing," said Terry in his written statement, quoted Friday 15 July.

Terry explained that two further openings are also scheduled for this year, subject to prevailing conditions, bringing the total number of stores operating nationwide will be 148 by the end of 2022. Matahari intends to open 12-15 stores in 2023 and beyond.

"We are very excited to soon open six new stores in various cities. This expansion demonstrates our strong financial condition and our commitment to provide a Feel Good experience to our loyal customers by getting closer to our community. We are optimistic about the long-term economic prospects in Indonesia, and the opening of this new store will create hundreds of jobs directly and in the area around us and contribute to the growth of the local economy," said Terry.