PT Matahari Department Store Tbk Becomes PT MDS Retailing Tbk
PT Matahari Department Store Tbk (“the Company”; stock code: “LPPF”) announced its change of name to PT MDS Retailing Tbk, marking a new chapter in its ongoing transformation into a multi-concept retail network. This change is limited to the corporate entity level and does not affect the Company’s existing store operations, brands, or customer experience, all of which will continue to operate under their current brand names, including ‘Matahari’ or ‘Matahari Department Store’.
As one of Indonesia’s most established retailers, the Company brings over 60 years of experience in the industry, with a strong nationwide presence of more than 140 stores across nearly 80 cities. Its new name reflects a strategic expansion beyond a single department store format into broader retail network that develops and operates multiple brands and concepts.
Today, the Company’s growing portfolio includes:
- Matahari Department Store: a trusted destination for family fashion and lifestyle needs across Indonesia, which continues to operate under Matahari brand name.
- SUKO: a brand offering minimalist, functional everyday essentials, currently available in five locations across Jakarta, Bekasi, and Surabaya.
- ZES: an urban contemporary fashion brand with a sleek, modern aesthetic, operating two monostores in Jakarta and Bekasi.
- MU+KU: a curated multibrand concept store designed to deliver a more delightful, discovery-led shopping experience, currently present in Jakarta and Surabaya
In addition to these concepts, the Company also continues to develop and strengthen a diverse portfolio of private label brands, including Nevada, COLE, Connexion, Little M, and others, spanning a wide range of categories from casual and family essentials to more fashion-forward and contemporary styles.
The Company plans to further scale these concepts into a broader and more integrated retail network, strengthening its ability to serve diverse customer segments while unlocking new growth opportunities.
“The transition to PT MDS Retailing marks our transformation into a multi-concept retail network, moving beyond a single-format business to deliver more relevant concepts and experiences. We remain committed to innovating, adapting to changing consumer needs, and creating sustainable value for all stakeholders,” said Monish Mansukhani, CEO of MDS Retailing.
