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Jakarta Post

Specialty store dominates MAP’s revenue

  • News Desk

    The Jakarta Post

Jakarta   /   Mon, April 9, 2018   /   12:01 am
Specialty store dominates MAP’s revenue PT Mitra Adiperkasa (MAP) corporate communication head Fetty Kwartati (left) and Indonesian Shopping Center Tenants Association (Hippindo) chairman Budihardjo Iduansjah speak to editorial staffs of Kompas daily during their visit to the newspaper office on Aug. 9. (kompas.com/A Handoko)

The specialty store category, or outlets selling specialized products, has contributed to the revenue of multi-brand lifestyle retailer Mitra Adiperkasa (MAP) last year amid sluggish consumer demand. 

The publicly listed company booked Rp 16.3 trillion (US$1.18 billion) in revenue last year, an increase of 15 percent from 2016, mainly supported by its specialty stores, particularly those selling shoes.

“The contribution reached 70 percent,” said MAP head of corporate communications Fetty Kwartati as quoted by Kontan on Sunday. 

The second and third largest contributions, Fetty added, came from department stores as well as food and beverage outlets at 16 and 13 percent, respectively.

Read also: MAP records double-digit revenue growth in Q3: Statement

She said the company was planning to focus its expansion toward products with strong market reception, such as sports, food and beverages as well as several fashion brands.

The company had prepared about 60,000 square meters of stores to support the expansion, she added. (gda)