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  • Matahari launches a new identity and brand new imagery as a ‘House of Specialists’. To realize this concept, Matahari focuses on four main things: Products, Price, Customer Experience and People. These include providing rejuvenated high-quality merchandise offer, competitive price products, fresh new store concepts to upgrade customer experience, and elevated skills of Matahari’s employees and business partners.
  • Opened 10 new stores at Jakarta, Tangerang, Yogyakarta, Gresik, Mojokerto, Makassar, Manado, Kendari, and Bontang.
  • Launched Matahari’s Official Store at Tokopedia and Lazada.
  • Launched Nevada Sport Junior.
  • Launched project of Library Renovation for 10 school libraries in 10 regions as one of the Company's Environment, Social, and Governance (ESG) focuses.
  • Established five-year blueprint ‘Sunrise’
  • Launched Nevada Sport and Baby Shop-in-Shop.
  • Auric Group became the controller of the Company.
  • Renewed dividend policy with clear direction of minimum 50% payout ratio.
  • Auric Capital, indirectly via Greater Universal Ltd emerged as a shareholder.
  • Launched the new “Pay Less, Feel Good” strapline.
  • Launched the new, social commerce Shop & Talk and official store in the marketplace,  such as Shopee.
  • Introduced the first Black Friday campaign.

Distributed a cash dividend of Rp933,600,000,000, or 85% of the net profit.


Initiated the use of cassava-based shopping bags.

  • Relaunched the loyalty program as Matahari Rewards, with an improved platform and superior benefits.
  • Launched the new “Feel Good” tagline, reinforcing Matahari’s commitment to offering all its customers a great shopping experience.
  • Since the share offering by ACC and PT Multipolar Tbk (Plc), followed by the ACC’s divestment, the public shareholding of Matahari increased from 1.85% to 82.52%.
  • Launched the digital platform

A third-party e-commerce platform MatahariMall began to offer Matahari’s exclusive brands.


LED lighting was installed in all new stores


Merger completion of Matahari and its parent company PT Meadow Indonesia (MI), after a year earlier, MI, a subsidiary of Asia Color Company Limited (ACC), acquired Matahari.


Matahari is acquired by PT Meadow Indonesia (MI), a subsidiary of Asia Color Company Limited (ACC). Both MI and ACC were indirectly majority owned by CVC Asia Fund III.

  • MPP affiliate PT Pacific Utama Tbk acquires the Matahari Department Store Division.
  • Matahari begins trading as a stand-alone public company, PT Matahari Department Store Tbk under the stock code LPPF.

Matahari introduces its New Generation concept, which showcases the best of modern department store design.


Matahari Club Card (MCC) is launched.


Multipolar became the majority shareholder of MPP


Matahari Putra Prima conducted Initial Public Offering (IPO) and listed its shares on the Jakarta Stock Exchange and the Surabaya Stock Exchange.


Establishment of PT Matahari Putra Prima (MPP).


Matahari opened its first store outside Jakarta, in Bogor.


Matahari opens the first modern department store in Indonesia


On 24 October, Mr. Hari Darmawan founded the first Matahari store in Jakarta, with a total floor space of 150 square meters.