MAPI – Business expansion and preparation ahead of Eid

MAPI – Business expansion and preparation ahead of Eid Mitra Adiperkasa (MAPI) is optimist and expects to increase its performance due to continuous store expansions in 7 countries along with higher expectations on the country' economic growth. Previously, MAPI recorded 9.3% yoy growth in the store area in 2023 due to the opening of new stores with new brands, such as Alo Yoga, and store expansion abroad. Also, MAPI expects that Eid celebrations would boost its performance amidst the upper-middle class consumption that is still positive till now. Note that, MAPI posted sales growth of 26.4% yoy in 9M23. The growth was due to retail sales growth of 28.6% yoy, café and restaurant sales growth of 25% yoy and department store sales growth of 11.7% yoy in 9M23. (Source : Kontan)