CIBINONG (Yosefardi) – PT Matahari Department Store Tbk (LPPF), a leading department store in Indonesia, once again expanded its network by opening its 122th outlets in Cibinong City Mall, Bogor, West Java, Thursday (Oct 17).
The capital expenditure for each new store is ranging between Rp 20 billion – Rp 30 billion per store. All financing plan is sourced from internal cash.
Based on the 2012 financial data, total sales of LPPF reached Rp 10.9 trillion, growing quite rapidly compared to the previous year which recorded on Rp 9.2 trillion.
LPPF now has 122 stores in operation located in 58 cities across Indonesia, engaging more than 40 thousand employees and being a partner with more than 1,200 local suppliers.