Mitra Adiperkasa is one of Indonesia's largest retail companies. Its franchise portfolio features more than 150 brands including Starbucks, Zara and Lacoste as well as department stores such as Debenhams and Seibu. The company had nearly 1,800 stores as of the end of 2013.
Mitra's vice president, Virendra Prakash Sharma, has been with the company since it started in 1995. He is known to be the key figure in building Mitra up from a few sports shops to a retail empire.
However, the company is now facing headwinds. In 2014, it cut back on expansion plans after its profit plunged due to a weakening rupiah, rising wages and intensifying competition. To revamp its poorly performing food and beverage business, it agreed with a Singapore-based investor, Everstone Capital, to sell a stake in its Burger King and Domino's Pizza franchises.
Business Summary
PT Mitra Adiperkasa Tbk engages in the retail trading of clothing, shoes, accessories, bags, and sports equipment. It operates through the following segments: Retail Sales, Department Stores, Cafe and Restaurant, and Others. The Retail Sales segment includes Trading of clothes and accessories, sports equipment and accessories, toys and accessories, Cellular phones, tablets, computers and accessories. The Others segment includes property, investment, book store, handicraft trading and manufacturing. The company was founded on January 23, 1995 and is headquartered in Jakarta, Indonesia.