Matahari to open 2 Outlets

Matahari to open 2 Outlets

JAKARTA: Leading retailer PT Matahari Putra Prima will open two upscale supermarkets later this month, which are expected to be followed by three more of the high-end stores by the end of the year.

The two supermarkets, called Matahari Marketplace, will open in Serpong, a satellite town outside Jakarta, and South Sulawesi's capital city of Makassar, Danny Konjongian, a director at Matahari, told Dow Jones in an interview Thursday.

"The Matahari Marketplace outlets will be opened in selected areas to regain our upper-middle class customers who have migrated to other high-end supermarkets," he added.

The new outlets are part of Matahari's plan to open eight supermarkets, including six Matahari Marketplace stores, as well as six department stores this year. Matahari will spend a total Rp 360 billion (US$42.6 million) on the expansion.

Matahari, which enjoys a 20 percent share in the domestic retail industry excluding traditional markets, last week opened its first Matahari Marketplace in an upmarket shopping mall in north Jakarta. -- Dow Jones