Indonesia-based department store chain Matahari plans to open around 15 new stores across the country by the end of 2012.

The company is looking to expand its retail presence in the growing market and store openings are part of the same strategy, reported JakartaGlobe.

Matahari’s net income for the first half of 2012 was IDR157.46bn ($17m), the same for the corresponding period last year stood at IDR18.21bn ($1.919m).

The retailer reported a rise in sales for the H1 2012 by 21% to IDR1.24trillion ($131.75bn) while the costs of goods sold for the period was up 18% to IDR757.17bn ($79.80m).

The company has unveiled four new stores in Depok, Jakarta; Gorontalo in Sulawesi; Palembang in South Sumatra; and Ambon in Maluku since the beginning of 2012.

Matahari CEO Michael Remsen told the website that consumer spending will continue to propel Indonesia’s economy, giving the company a solid base to accelerate its store expansion and to take advantage of the trend.

"Indonesia is a consumer-driven economy and relies less on exports than other Asian nations," Remsen said.

"As a result, the economy has weathered downturns in the world economy quite well."

The retailer sells more than 28 different fashion brands and has a 30% share of the nation’s department store market that targets the middle-income segment, according to Euromonitor International.

The department store chain is operated by PT. Matahari Department Store, a subsidiary of the publicly traded PT. Matahari Putra Prima

Matahari is a multi-format retailer with a store network of 80 department stores, 36 hypermarkets, 32 supermarkets, 39 health and beauty centres and more than 90 family entertainment centres.