PT Matahari Department Store Tbk ("Matahari" or "Company"; stock code: "LPPF") is expanding its business by signing a Momerandum of Understanding (MOU) with Mall @Bassura, East Jakarta today. With this cooperation Matahari is strengthening its presence in East Jakarta and it will be the 31st store in Greater Jakarta. The store will be located in a strategic area, with connecting access between South Jakarta, East Jakarta, and Bekasi supported by integrated public transportation, as well as access to Jakarta inner ring road toll and the new Becakayu toll interchange.
During this year so far Matahari has opened three new stores in Plaza Ambarrukmo Yogyakarta, Mal Taman Anggrek Jakarta and TangCity Mall Banten. The Company will continue to open more new stores at Gowa in September, Bondowoso in October, Kendari and Bontang in November, respectively and has visibility on total expansion of 10 new stores during 2022.
Furthermore, the Company will add 12-15 new stores in 2023 and is already advancing the forward pipeline of store expansion opportunities and job creation. In total number the of stores to be trading nationwide at the end of 2022 will be 148 growing to 160 or more by the end of 2023.
"We are excited to launch our new store in Mall @Bassura soon. The presence of this new Matahari store is part of our effort to get closer to communities and will strengthen our market share. We will bring our latest concept, smaller and more productive format to the mall ” said Terry O’Connor, CEO of Matahari.
