Matahari to open 12 outlets in '04<\/p>\n
JAKARTA: Indonesia's retailer PT Matahari Putra Prima plans to
\nopen at least six new department stores and six new supermarkets
\nnext year to boost its sales, Matahari's spokeswoman, Renata
\nLyfan, said on Friday.<\/p>\n
"We plan to open at least 12 new outlets next year," she said,
\nadding that the number may increase if the company sees more
\nbusiness opportunities.<\/p>\n
The company plans to invest at least Rp 250 billion (US$29
\nmillion) to open the new outlets in 2004.<\/p>\n
Matahari, which enjoys a 20 percent share in the domestic
\nretail industry excluding traditional markets, has so far opened
\neight supermarkets and six department stores this year.<\/p>\n
Renata said the company will open another new department store
\nin Jakarta early next month, bringing the total number of new
\noutlets this year to 15.<\/p>\n
Matahari embarked on an aggressive expansion this year after
\nit finished a management restructuring last year.<\/p>\n
The organizational restructuring started in 1997 when the
\nLippo Group bought majority ownership in the company. Since 2000,
\nthe restructuring had virtually halted expansion, with the firm
\nopening only one or two outlets per year. -- Dow Jones
\nbailout. -- AFP<\/p>",
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