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Tag: Kopi 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.

  • Kopi Kenangan to enter the Philippines and India

    Kopi Kenangan to enter the Philippines and India

    Indonesian coffee chain Kopi Kenangan – also known as Kenangan Coffee – is expanding its global footprint, beginning with the launch of its first stores in India and the Philippines.

    The company will open its first Philippine store in October at SM Mall of Asia, Pasay City.

    In India, Kopi Kenangan will make its debut early next year through a licensing agreement with a local F&B business. However, specific details have yet to be finalised.

    During its initial expansion phase in Southeast Asia, the company said it would focus on establishing at least 10 stores in shopping centres.

    “Our expansion into Malaysia and Singapore is a testament to our commitment to serving quality coffee to more people around the world,” said Edward Tirtanata, founder and CEO of Kopi Kenangan.

    “Moving forward, we hope to continue expanding our reach by opening 500 international Kenangan Coffee outlets across various countries,” he said.

    Founded in 2017, Kopi Kenangan is one of the largest branded coffee chains in Indonesia, with more than  900 outlets across 60 cities.

    The brand made its international debut in Malaysia in 2022, followed by an expansion into Singapore last year, where it currently operates 48 and seven locations, respectively.

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  • Indonesian chain Kopi Kenangan makes international debut

    Indonesian chain Kopi Kenangan makes international debut

    Indonesian coffee chain Kopi Kenangan has launched its first store in Malaysia under the name Kenangan Coffee.

    The store, which sells the brand’s exclusive coffee drinks, is situated in the Kuala Lumpur shopping centre Suria KLCC. This is a part of the company’s strategy for international growth, and co-founder and CEO Edward Tirtanata said Malaysia would have 100 new stores by the end of the first quarter of next year.

    There are four locations under the construction including Sunway Pyramid, Pavilion KL, MyTown Cheras and NU Sentral KL. All will be launched at the end of this year.

    According to Statista, Malaysia’s Coffee segment is expected to generate US$1.296 billion in revenue this year and the market is anticipated to increase by 7.28 per cent annually (CAGR 2022-2025).

    Warm beverages such as tea and coffee have long been a part of the majority of Malaysians’ daily lives. The growth of global retail coffee companies like Starbucks and The Coffee Bean, The Tea Leaf, as well as regional coffee shop brands like OldTown White Coffee, can also be attributed to the rise in popularity of coffee among young people.

    Tirtanata told local sources that Malaysia is the brand’s first international market due to its steady expansion in coffee culture, particularly the grab-and-go trends, and the similarities between Malaysians and Indonesians in terms of taste preferences and openness to trying new things

    Kopi Kenangan is also eyeing to make a debut in three or four Asian markets in the future. Last year, the brand raised $96.1 million in a Series C funding round, helping its chain be valued at more than $1 billion.

    Founded in 2017 by Edward Tirtanata, James Prananto and Cynthia Chaerunnisa, the F&B chain Kopi Kenangan operates 850 stores in 64 cities across Indonesia. It has increased the variety of its products by launching Kenangan Manis, Chigo, and Cerita Roti.

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  • Kopi Kenangan eyes fast expansion after US$109 million investment

    Kopi Kenangan eyes fast expansion after US$109 million investment

    Southeast Asian non-franchise grab-and-go beverage retailer Kopi Kenangan has raised US$109 million in Series B funding led by the firm’s existing investor, Sequoia Capital.

    The funds will help Kopi Kenangan strengthen its operations in Indonesia, launch new products, invest in technology enhancements and protect employees during the ongoing coronavirus pandemic. The company has also revealed plans to offer a wider range of food and beverage products from local merchants as well as its cloud kitchens.

    Horizons Ventures, B Capital, Verlinvest, Kunlun, Alpha JWC Ventures and Sofina also participated in the round as new investors

    The firm serves locally sourced coffee priced for the mid-market and available at kiosks throughout the territory or via online delivery. It was an early responder to the Covid-19 threat and provides protective medical gear, donations, and free coffee for frontline healthcare workers within Indonesia.

    “The hospitality industry is facing the biggest existential crisis of our generation,” said Kopi Kenangan co-founder and CEO Edward Tirtanata. “It’s hard to tell when the sector will return to normal but when it does, it will look very different. As a growing startup, we are adapting quickly to the challenge through contactless commerce and uncompromising hygiene standards throughout our stores. The well-being of our employees is a big priority and we are investing in their safety, along with enhanced health benefits and additional training to help them cope with this massive change.”

    The firm’s current target is to have 500 outlets in operation by the end of the year over its current 324 stores, which already employ 3000 staff. It is then looking to expand into Thailand, the Philippines, and Malaysia following the resolution of the coronavirus crisis.

    Kopi Kenangan recently hired Facebook co-founder Eduardo Saverin to its board of directors.

  • Indonesian coffee chain Kopi Kenangan to expand across SEA

    Indonesian coffee chain Kopi Kenangan to expand across SEA

    Indonesian coffee chain Kopi Kenangan has closed a US$20 million growth funding deal with Sequoia India.

    The firm, which secured an $8 million investment from local group Alpha JWC Ventures last October, plans to use the capital to open 150 outlets within this year, expanding to 1000 stores throughout the territory by 2021. The chain will also consider regional expansion across Southeast Asia.

    Kopi Kenangan currently operates 80 stores in eight cities, which sell around a million cups of coffee per month – predominantly traditional Indonesian iced coffee with organic palm sugar.

    “Our mission is to bring high-quality coffee, made with the freshest local ingredients to consumers across Indonesia – and the rest of Southeast Asia, too,” said Kopi Kenangan co-founder and CEO Edward Tirtanata.

    Sequoia expressed admiration for the firm’s achieving profitability in its second year of business.

    “Most food-retail businesses struggle despite high gross margins due to operating costs like rent, manpower and wastage,” wrote Sequoia Capital investment advisor Rohit Agarwal. “Kopi Kenangan has implemented robust backend systems to track inventory in real-time and moves excess items across stores, cutting wastage to almost zero. Its stores are 10–20 per cent of the size of a normal cafe, significantly cutting cost per store”.

    One of the chain’s core strengths is its app, launched in April, which allows customers to order their coffee for pick up and avoid queues, or have their purchase delivered by food delivery partners.

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