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Tag: Kenangan

  • Kopi Kenangan Brews Global Expansion Plan After Tasting Success in Malaysia

    Kopi Kenangan Brews Global Expansion Plan After Tasting Success in Malaysia

    Kopi Kenangan, an Indonesian coffee chain, is broadening its presence in Asia, subsequent to achieving profitability in Malaysia, three years after its market launch. Edward Tirtanata, the co-founder and CEO of the company, anticipates closing the current year with 150 branches in Malaysia, before broadening that number to 200 venues next year.

    Tirtanata shared that the company has been persistently opening more than one location per day this year, with approximately 70 new stores expected to launch within the next month.

    Continuing its regional expansion, Kopi Kenangan is planning to penetrate the markets of Taiwan and a Gulf Cooperation Council (GCC) country by mid-next year. Earlier this year, the brand made its first appearance in Australia and anticipates having four stores in operation by the end of the year. Meanwhile, roughly 20 additional outlets are scheduled to open in the Philippines in the latter part of this year and early next year.

    The third quarter of this year saw the company’s revenue increase by 40% year-on-year, a growth attributed to its strategy of adapting flavors, recipes, and prices to accommodate local markets. Tirtanata stated, “If you drink our coffee in Singapore, Jakarta, Malaysia, or New Delhi, it will taste different.” He further emphasized the company’s readiness to innovate and revise their recipes to cater to their diverse customer base.

    Questions & Answers

    What is the planned expansion of Kopi Kenangan within the next year?
    Kopi Kenangan aims to increase its Malaysian outlets to 200 stores. Also planned is the opening of approximately 70 new stores within the next month. Furthermore, the company is set to launch in Taiwan and a Gulf Cooperation Council (GCC) country by mid-next year.

    What contributes to Kopi Kenangan’s revenue growth?
    The company’s strategy of adapting its coffee flavors, recipes, and pricing to fit local markets has played a significant role in its revenue increase of 40% year-on-year in the third quarter.

    What differentiates Kopi Kenangan’s coffee in various locations?
    Kopi Kenangan’s coffee taste differs in various locations such as Singapore, Jakarta, Malaysia, and New Delhi. This is due to the company’s strategy of innovating and revising their recipes to cater to local tastes and preferences.

  • Indonesian cafe chain Kenangan Coffee enters Singapore

    Indonesian cafe chain Kenangan Coffee enters Singapore

    F&B unicorn Kopi Kenangan, known as Kenangan Coffee outside Indonesia, has expanded its footprint into Singapore, opening its first store at Raffles City Shopping Centre.

    The Singapore expansion follows Kenangan Coffee’s international debut last year in Malaysia, where it currently has more than 20 stores.

    “The profound love that Singaporeans have for coffee, from kopitiams to contemporary cafes, inspired Kenangan Coffee’s leap into this vibrant market,” said Edward Tirtanata, group CEO and co-founder of Kenangan Coffee. “The city’s diversity and its global F&B prominence make our expansion here a pivotal milestone.”

    The company said it plans to expand its presence to other Southeast Asian countries before expanding globally.

    “…We aspire to be the most-loved consumer brand in Southeast Asia, and Singapore will be a key foothold in helping us achieve this mission,” said James Prananto, co-CEO and co-founder of Kenangan Coffee.

    Kopi Kenangan became the first F&B unicorn in Southeast Asia early last year after raising US$96 million in a Series C funding round, which valued the company at more than $1 billion. The coffee chain, founded in 2017 by Tirtanatam, Prananto, and Cynthia Chaerunnisa, has more than 900 stores across Malaysia, Singapore and Indonesia.