Mitra Adi Perkasa Tbk (MAPI) opens Zara retails at Ho Chi Minh, Vietnam through its subsidiary, Mitra Adi Perkasa Vietnam Company Limited. The expansion is expected to boost its sales in the future.
Fetty Kwartati, Corporate Secretary of MAPI, said Zara which was located at Vietcom Center took 2.400 m2 area. MAPI will add more Zara retails and other retails under Inditex group, like Massimo Dutti, Pull & Bear, Berska, Stradivarius, and Zara Home in Vietnam by 2017. The company operates 15 retails at Jakarta, Bandung, Surabaya, Medan, and Bali, Indonesia. MAPI sales reaches IDR 6.67 trillion on the first semester 2016, higher by 9.18% than 2015.
BCA Sekuritas considers the expansion to get an opportunity to grow the middle class segment and raise the revenue per capita in Vietnam. According to Boston Consulting Group (BCG), the middle class segment is expected to reach 33 million people in 2020 rather than 12 million people in 2014. The average revenue per
capita is projected to rise to US$ 3.400 per year in 2020 than US$ 1.400 in 2014.
BCA Sekuritas recommended BUY for MAPI with a target price of IDR 5.040. On Monday (19/9) stock market, MAPI fell 0.46% to IDR 4.340. (*)
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