Indonesian cafe chain Kenangan Coffee enters Singapore
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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.
Questions & Answers
Q.Where did Kenangan Coffee choose for its first store in Singapore?
Where did Kenangan Coffee choose for its first store in Singapore?
The Indonesian cafe chain opened its first Singapore store at Raffles City Shopping Centre. This is their entry into the market, following their international debut last year in Malaysia.
Q.How many stores does Kenangan Coffee currently operate across all its markets?
How many stores does Kenangan Coffee currently operate across all its markets?
Kenangan Coffee, also known as Kopi Kenangan in Indonesia, currently operates over 900 stores. These stores are located across Indonesia, Malaysia, and now Singapore, following its recent expansion.
Q.What is Kenangan Coffee's broader expansion strategy after entering Singapore?
What is Kenangan Coffee's broader expansion strategy after entering Singapore?
After establishing its presence in Singapore, the company plans to expand into other Southeast Asian countries. Their ultimate goal is to achieve global expansion, aiming to become the most-loved consumer brand in the region.
Q.When did Kopi Kenangan achieve its 'unicorn' status and what was its valuation?
When did Kopi Kenangan achieve its 'unicorn' status and what was its valuation?
Kopi Kenangan became Southeast Asia's first F&B unicorn early last year. This status was achieved after a Series C funding round raised US$96 million, valuing the company at over $1 billion.
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