Indonesia’s Kopi Kenangan planning further Asia expansion in 2024

Kopi Kenangan has previously stated a goal of reaching 1,800 outlets globally by 2026 | Photo credit: Visual Karsa

Indonesia’s Kopi Kenangan is gearing up for further international expansion across Asia in 2024. 
 

Speaking to Indonesian business publication, Kontan, the coffee chain’s Head of Corporate Affairs Ruth Davina said the business planned to enter several Asian markets this year. 
 

“This year we can expand again to other countries, still in the Asian region. If there are no obstacles, it can be done in the near future, it could be in the first semester of 2024,” Davina said without disclosing details of specific markets. 

Founded in 2017, Kopi Kenangan attained coveted unicorn status in January 2022 after securing $96m in Series C funding. The on-the-go coffee chain operates more than 900 stores across 67 cities in Indonesia, made its international debut in Malaysia in October 2022 and opened its first store in Singapore in September 2023. 

Kopi Kenangan currently operates 45 stores across Malaysia and six sites in Singapore. According to Davina, the business’ performance across the two international markets is currently ‘above expectations’. 

The Jakarta-based coffee chain has previously stated a goal of reaching 1,800 outlets globally by 2026.