Company: Matahari Department Store Tbk PT
Brand value: US$2,145 million
Headquarter city: Tangerang
Year formed: 1958
Shopping destination of the growing middle classes
Matahari is a popular chain of department stores, and its network is expanding rapidly as it caters to the desires of the burgeoning Indonesian middle class. Stores are being rolled out across the country featuring adults’ and children’s clothing, cosmetics, appliances, and accessories that combine fashion with affordability. Now present in 65 cities, Matahari had 134 stores as at April 2015 and employs more than 40,000 people. It takes pride in supporting more than 1,200 Indonesian suppliers.
The brand has a strong social mission, and its CSR work includes a long-standing partnership with UNICEF, local charities, and employee associations. Stores collected IDR500 million in customer donations in 2014 to fund the construction and restoration of mosques and churches. Matahari shares were floated in 2013. The public now owns 65 percent of the company, with Asia Color Company and PT Multipolar the other major shareholders. Its turnover is growing rapidly thanks to improved like-for-like sales and the addition of new outlets in the network.