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Parkson

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Parkson Holdings Berhad
Company typePublic limited company
MYX: 5657
ISINMYL5657OO001
IndustryDepartment store
Founded1987; 37 years ago (1987)
FounderWilliam Cheng
Headquarters
Kuala Lumpur
,
Malaysia
Number of locations
131 department stores
Area served
Malaysia
China
Vietnam
Laos
RevenueRM 3,554 million (FY2014)
RM 325 million (FY2014)
RM 240 million (FY2014)
ParentLion Group
WebsiteParkson Holdings Berhad
Parkson Malaysia
Parkson China
Parkson Vietnam
Parkson Indonesia
Centro Indonesia[usurped]
Parkson Retail Asia Limited

Parkson Holdings Berhad (doing business as Parkson; Chinese: 百盛; pinyin: Bǎishèng; Cantonese Yale: Baaksìhng; MYX: 5657) is a Malaysia-based department store operator with an extensive network of 131 stores as of 2017, spanning approximately 2.1 million m2 of retail space across cities in Malaysia, China, Vietnam, Laos and formerly in Myanmar.[1]

International operations

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Malaysia

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Parkson opened its first store at Sungei Wang Plaza in 1987. Since then, new stores have been rolled out across the country at approximately two stores per annum over the past 27 years. Their first flagship store Parkson Elite at Pavilion KL was opened in 2007.[citation needed]

As of 29 July 2021, Parkson has 41 stores in Malaysia (38 Parkson, 3 Parkson Elite). Parkson is on a consolidation journey, which it had recently closed down its Maju Junction branch in Kuala Lumpur and then opened a branch in M Square Mall, a retail and lifestyle hub in Puchong, which was closed after 18 months of operation.[2][3][4]

China

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In 1994, Parkson opened its first department store in Beijing. Parkson is one of the first foreign department store chains to establish a presence in China.[5] As of June 2015, Parkson has an extensive network of 60 stores covering 37 major cities in China.[6]

Vietnam

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The opening of Parkson Saigon Tourist Plaza on 29 June 2005 marked the entrance of Parkson as the first truly international department store to be opened in District 1, Ho Chi Minh City.[7] On 2 January 2015, Parkson closed its store at Landmark 72 (formerly Keangnam Landmark Tower), Hanoi, as the store has been loss-making since its opening in December 2011. Nevertheless, Parkson remains positive on the retail market in Vietnam, as evidenced by the opening of a new store in Danang on 11 January 2015.[8] As of 3 January 2021, Parkson has 4 stores across 3 cities. On 28 April 2023, Parkson Retail Asia announced that Parkson Vietnam filed for bankruptcy due to financial pressure.[9]

Indonesia (formerly)

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Parkson entered the country by acquiring PT. Tozy Sentosa, the operator of Centro Department Store in 2011. Centro Department Store itself was developed by Suzy Darmawan Hutomo, master licensor holder for The Body Shop in Indonesia and sole daughter of Matahari founder, Hari Darmawan.[10] Prior to the acquisition, Centro opened its first store at Plaza Semanggi, Jakarta in November 2003, followed by opening stores at Discovery Shopping Mall Bali, Plaza Ambarrukmo Jogjakarta, Margo City Depok, Mall of Indonesia Jakarta, and Summarecon Mall Serpong Tangerang.

After the acquisition, the department store network has since expanded to a total of 11 stores under the Centro brand and two stores under the Parkson brand, leading to a total of 14 stores (including Kem Chicks supermarket at Pacific Place Jakarta. Parkson Gourmet Market at Bintaro CBD, opened on 3 November 2016 but closed sometime in 2017) as of 1 December 2020.

The country's first Parkson store opened its door at Centre Point Mall, Medan on 28 November 2013. The second Parkson store at Lippo Mall Puri, Jakarta commenced operation on 27 June 2014 (closed in 2020 due to low sales and COVID-19 pandemic). The third Parkson store at Hartono Mall, Yogyakarta commenced operation on 22 December 2015.

According to the company website, the Centro brand will be focused on the middle-class segment while the Parkson brand focuses on the upper-middle-class.

In March 2021, PT. Tozy Sentosa were sued to bankruptcy due to failed payments to various vendors.[11][12][13] Centro stores at Plaza Ambarrukmo, Jogjakarta and Bintaro Jaya Xchange Mall, Tangerang closed down following the lawsuit.[14] Before that, however, two Centro branches at Mall of Indonesia[15] and Plaza Semanggi, Jakarta[16] were closed in 2018, followed by the Summarecon Mall Serpong branch on 3 January 2021.[17] In April 2021, Parkson Hartono Mall and Centro Solo Paragon Mall closed its doors, and finally, on 17 May 2021, the company was officially declared bankrupt by court.[18]

Myanmar (formerly)

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Parkson entered the country with the opening of its first store at FMI Centre, Yangoon, on 11 May 2013 and permanently closed on 16 December 2018.[19]

Laos

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Parkson opened its first store in the Sisattanak district of Vientiane in February 2020.

References

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  1. ^ "Parkson Network on the company's web page". Parkson. 2015-12-31. Archived from the original on 2014-12-17. Retrieved 2016-11-26.
  2. ^ "Parkson opens new mall in Puchong".
  3. ^ "Parkson closes store 18 months after opening". 6 August 2019.
  4. ^ "Parkson Malaysia - Store Locations". www.parkson.com.my. Retrieved 2023-02-09.
  5. ^ "Parkson".
  6. ^ Parkson earnings up to RM63.29mil in Q1
  7. ^ "About Parkson | Parkson". Archived from the original on 2013-12-03. Retrieved 2013-12-02.
  8. ^ "Parkson remains positive on Vietnam - the Rakyat Post - the Rakyat Post". Archived from the original on 2016-08-29. Retrieved 2015-02-11.
  9. ^ "Chủ chuỗi trung tâm thương mại Parkson Việt Nam nộp đơn phá sản". Zing News. 28 April 2023.
  10. ^ "Kisah Putri Sulung Pendiri Matahari Department Store Tanggalkan Nama Darmawan". Tribun Jabar (in Indonesian). Retrieved 2021-04-05.
  11. ^ Kusumawardhani, Amanda (10 March 2021). "Pengelola Centro dan Parkson Digugat Pailit". Bisnis Indonesia. Retrieved 12 March 2021.
  12. ^ "SIPP". sipp.pn-jakartapusat.go.id. Retrieved 2021-03-12.
  13. ^ Liputan6.com (2021-03-16). "Asosiasi Pemasok Tanggapi Kasus PKPU Centro dan Parkson Departemen Store". liputan6.com (in Indonesian). Retrieved 2021-03-16.{{cite web}}: CS1 maint: numeric names: authors list (link)
  14. ^ Sandi, Ferry. "Centro Plaza Ambarrukmo Tutup, Rupanya Sudah Diprediksi". news (in Indonesian). Retrieved 2021-03-23.
  15. ^ "Tak Hanya di Plaza Semanggi, Centro di Mall of Indonesia Juga Tutup". kumparan (in Indonesian). Retrieved 2021-03-31.
  16. ^ Hasibuan, Lynda. "15 Tahun Eksis, Begini Sepak Terjang Centro Department Store". news (in Indonesian). Retrieved 2021-03-31.
  17. ^ "Summarecon Mall Serpong (@sms_serpong) posted on Instagram: "Pemberitahuan Terimkasih #SMSLovers telah menjadi pelanggan Centro Department Store Summarecon Mall Serpong. Kami Informasikan mulai 03…" • Jan 4, 2021 at 12:37pm UTC". Instagram. Archived from the original on 2021-12-24. Retrieved 2021-03-31.
  18. ^ Novika, Soraya. "Perjalanan Centro Tutup Gerai hingga Dinyatakan Pailit". detikfinance (in Indonesian). Retrieved 2021-05-18.
  19. ^ http://www.liongroup.com.my/images/news_letter/News_Letter-PDF_20130819142313.pdf [bare URL PDF]
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