MAP SOLIDIFIES FOUNDATION FOR FUTURE GROWTH
Jakarta, 7th May 2018 – Indonesia’s leading lifestyle retailer, PT Mitra Adiperkasa Tbk (MAP) announced today, during the company’s public expose, various strategic initiatives to strengthen the company and solidify its growth foundation.
Commenting on these strategic initiatives, Fetty Kwartati, Head of Corporate Communication of MAP said, “Due to restructuring and better efficiency of MAP after Transformational Agenda 2014-2016, we posted record net revenue of Rp 4.3 trillion for the first quarter of 2018 – a 19% increase over the corresponding period in 2017. Operating profit also showed jumped 36% percent from Rp 183 billion to Rp 248 billion. As a consequence of restructuring, there was a one-time write off as part of the company’s strategy to strengthen the foundation for future growth. Following lessons learnt from this strategic restructuring, closure of stores and one-time write off, the leaner and more efficient MAP is now better positioned for long term sustainable profitable growth in 2018 and beyond.”
In 2017, MAP closed 321 stores and opened 339 new stores – ending the year with a net total of 1953 stores in 70 major Indonesian cities. Currently, it also has 5 stores in Vietnam including Zara, Pull & Bear, Massimo Dutti and Stradivarius.
About PT Mitra Adiperkasa Tbk
As of March 2018, MAP operates 1,925 retail outlets in 70 major cities throughout Indonesia. The major retail concepts under the group among others:
- Department Stores: Sogo, Seibu and Galleries Lafayette;
- Fashion & Lifestyle: Zara, Marks & Spencer, Topman, Topshop, Kipling, Lacoste, Nautica, Massimo Dutti, Staccato, Crabtree & Evelyn, Swarovski, Zara Home and Sephora;
- Sports: Converse, Golf House, Payless ShoeSource, Oakley, Planet Sports, Reebok, Rockport, Skechers, Sports Station, and The Athlete’s Foot;
- Food & Beverage: Starbucks, Burger King, Domino’s Pizza, Pizza Marzano, Krispy Kreme, Cold Stone Creamery Ice Cream, Godiva and Paul Bakery;
- Kids: Kidz Station, Oshkosh B’Gosh, and Carter’s;
- Others: Kinokuniya and Alun Alun Indonesia. For more information about MAP please visit www.map.co.id
For more information, please contact:
Fetty Kwartati – Head of Corporate Communication
PT Mitra Adiperkasa Tbk
Sahid Sudirman Center 30th fl.
Jl. Jend. Sudirman Kav. 86
Phone: 021 8064 8567, Fax : 021 574 0150