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Publicly listed PT Mitra Adiperkasa (MAPI) has expanded its
high-end retail business by opening Jakarta's first branch of an
upmarket Spanish fashion and lifestyle clothing store.
MAPI group head of investor relations Ratih D. Gianda said during the
weekend the 438 square meter Massimo Dutti shop would open in Senayan
City on Oct. 6.
Massimo, which is 100 percent owned by the Spanish company Inditex
Group, has about 400 outlets in 29 countries, she said.
"Despite the fact that Indonesia's middle class amounts to only 20
percent (of the population, MAPI) has managed to earn sufficient
profits," she said.
In the first half of this year, the company's total sales reached Rp
1.5 trillion (about US$165 million) with net profit of Rp 35.46 billion.
Last year, MAPI's sales reached Rp 2.8 trillion with a net profit of Rp
131.94 billion.
The company owned by business magnate Boyke Gozali, operates more than
500 shops in 22 large cities here. Brands include exclusive department
stores such as Sogo, Zara, Marks & Spencer, Topman, Topshop, Miss
Selfridge, Planet Sports, The Athletes Foot, Reebok, Wilson, Nine West,
Starbucks and Debenhams.
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