Matahari (department store)

PT Matahari Department Store Tbk
	Logo since October 2022
Company type	Public
Traded as	IDX: LPPF
ISIN	ID1000113301
Industry	Retail
Founded	24 October 1958
Headquarters	Menara Matahari, Tangerang Regency, Banten, Indonesia
Number of locations	140+ across Indonesia
Key people	Monish Mansukhani (CEO); Andy Adhiwana (Chairman);
Revenue	IDR 4,426 Billion (9M 2025);
Operating income	IDR 917 Billion (9M 2025);
Net income	IDR 601 Billion (9M 2025);
Total assets	IDR 4,504 Billion (30 Sep 2025);
Total equity	IDR 182 Billion (30 Sep 2025);
Owners	Public (46.82%); Treasury Shares (1.37%); Auric Digital Retail (42.51%); Multipolar (9.30%);
Website	matahari.com

PT Matahari Department Store Tbk, commonly known as Matahari, is the largest retail platform in Indonesia with stores located across the country and online presence on Matahari.com.^[1]

History

The Company was established on October 24, 1958, with the opening of a children's fashion store in Jakarta's Pasar Baru district; the first proper Matahari outlet was opened in 1972, considered as the first modern department store in the country.

Since July 14, 2021, the majority and controlling shareholder of Matahari Department Store Tbk has changed to Auric Digital Retail Pte. Ltd. Meanwhile, Multipolar remains one of the main shareholders. The rest are other investors. Currently, Matahari operates 140+ outlets in nearly 80 cities throughout Indonesia.

Latest Updates

Matahari is focused on strengthening its exclusive brand portfolio, which includes SUKO, ZES, Nevada, Connexion, COLE, and Little M, to appeal to dynamic Indonesian consumers. The company offers a curated range of fashion and lifestyle products across a large network of over 140 stores in nearly 80 cities, complemented by digital platforms like Matahari.com.^[2]

References

^ Matahari Department Store Tbk 2020, p. 6-7
^ Prabowo, Ibnu (2025-09-25). "Matahari opens first ZES store in Jakarta | Retail Asia". retailasia.com. Retrieved 2025-11-01.

[mds1-1] Matahari Department Store Tbk 2020, p. 6-7

[2] Prabowo, Ibnu (2025-09-25). "Matahari opens first ZES store in Jakarta | Retail Asia". retailasia.com. Retrieved 2025-11-01.

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