Matahari Putra Prima, the operator of the supermarket chain Hypermart, is setting aside up to IDR882 billion (USD71 million) to beef up its retail network next year in another sign of confidence for the country’s burgeoning middle class.
Danny Kojongian, a director at Matahari Putra Prima, said that the listed company aims to build 20 new Hypermart outlets and renovate 10 existing outlets next year. The 20 additional outlets will primarily target cities in the eastern region of Indonesia, he added.
Danny said that there are also plans to build up to eight additional stores for grocery market chain Foodmart, as well as a high-end version of the grocery market chain next year, which will be called Foodmart Primo.
