Kopi Kenangan claimed to have poured out around US$40,000 – US$100,000 to open a new outlet in Singapore’s market.
Heaptalk, Jakarta — Indonesia’s unicorn startup, Kopi Kenangan (internationally known as Kenangan Coffee), has expanded its presence in Singapore (09/26). The opening of this new outlet was inaugurated directly by the founders of this startup, including Group CEO Edward Tirtanata and Co-CEO James Prananto.
The new Kenangan Coffee’s outlet located in the Raffles City Shopping Center, Singapore, marked its further endeavor to accelerate its global expansion, following the opening of its international branch, in Malaysia on October last year.
Following its success in seizing Malaysian market, the presence of Kopi Kenangan in Singapore also opens up opportunities to introduce coffee brands from Indonesia to the world. Singaporean’s interest in coffee, from traditional coffee shop Kopitiams to modern coffee shops, has encouraged the company to present Kenangan Coffee in this market. The diversity of the food and beverage sector in Malaysia and Singapore is claimed as a significant milestone.
“This outlet is the initial international branch in the Singapore market. This country is the business hub of ASEAN, which is expected to become a global showcase. With the wealth of coffee products throughout Indonesia’s regions, spanning Sidikalang, Kintamani, Bali, and West Java, we will expedite this potential to carry out Indonesian food and beverage products to go global,” Edward affirmed.
Established in 2017, Kopi Kenangan startup has achieved outstanding business development by operating around 579 outlets in 2021. This output has enhanced 51.5% throughout the year, attaining 878 branches spread to about 64 cities in the archipelago. On the other hand, this unicorn startup also unlocked up to 299 outlets in November last year. Meanwhile, Kenangan Coffee operated around 20 branches in the Malaysian market in 2022.
In broadening its existence internationally, this unicorn startup claimed to have poured out around US$40,000 (around Rp454 million) – US$100,000, approximately Rp1.13 billion, to open a new outlet unit in Singapore. Regarding the second phase of this business expansion, Kopi Kenangan plans to open an outlet at Terminal 2 of Changi International Airport, Singapore. The startup also targets to open up to four outlets in the Singapore market by the year’s end.
