Matahari Putra Prima (MPPA) has doubled its stake in online Indonesian retailer MatahariMall.com.
The multi-format retailer, which operates Hypermart, Smartclub, Foodmart, Boston and FMX chains, says it has [aid cash for an additional 5 per cent share in the fast-growing eCommerce business.
“With the acquisition, MPPA hopes to benefit from wider access to eCommerce as its development will remain strong this year,” MPPA said in a statement. “The company views eCommerce in Indonesia as an enormous market and will continue to grow. The investment and partnership with MatahariMall.com is a new opportunity to foster O2O eCommerce
components that encourage sales [growth] in the future.”
MPPA said the relationship will improve MPPA’s position as the leading multi-format modern retailer in Indonesia, as well as contribute to a sound financial outlook going forward.
New Foodmart Primo
In other news, MPPA has opened its second upper scale supermarket format, Foodmart Primo at Lippo Mall Kuta, Bali.
The opening of Foodmart Primo in Bali is based on the company’s studies on the upward trend of customers’ shopping behavior in the island. The store has a gross selling area of about 1510 sqm and provides a wide selection of high quality of imported and local products.
Director of Foodmart operations, Dave Rao, says due to the nature of the location the store will cater more to tourists than residents, so the stock mix will be slightly different from a typical Foodmart Primo.
“We have additional categories like handicrafts, souvenirs, aromatherapy, travel accessories, beach accessories, and more, specially targeted at holiday-makers. But our main feature remains the restaurant which is a ready-to-eat area offering pizzas, roasts, pastas, traditional food, fresh juices, sandwiches, salads and a boutique bakery.”
