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15 Matahari


Company: Matahari Department Store Tbk PT

Brand value: US$1,250 million

Headquarter city: Tangerang

Year on year change: -31%

Industry: Retail

Year formed: 1958

Matahari is a national chain of department stores, which owns and operates around 150 stores in 70 cities. New stores are being opened regularly, and Matahari has announced plans to speed up the pace of expansion, including into areas where other department stores have closed, where it sees an opportunity to increase market share. The business has also closed some of its less-profitable stores, including two of its South Jakarta outlets, due to poor sales. Matahari has increased its investment in the e-commerce brand MatahariMall to a 16 percent stake, and in late 2017 announced a partnership with Disney, under which official Disney merchandise will be sold at all Matahari branches. Matahari’s communications tend to highlight the broad range of lifestyles and fashion preferences among Indonesian shoppers, and underline their stores’ ability to cater to everyone in a fun way. The brand sponsors several fashion shows, including Jakarta Fashion Week and Pesona Ramadhan Fashion Delight.