Kopi Kenangan Targets 4,000 Outlets by 2030 in Expansion Drive

Kopi Kenangan is aiming to increase its store count with a total investment of $200 million, equivalent to Rp 3.54 trillion at an exchange rate of Rp 17,738 per dollar. By 2030, the company plans to triple its outlets to 4,000. CEO Edward Tirtanata claims Kopi Kenangan is Indonesia’s largest coffee chain with a third of the market share, 1,136 domestic outlets, and 188 overseas stores as of December 2025. The company, founded in 2017, became a unicorn in 2021 after securing $96 million in Series C funding. ‘We aim to become the dominant company or brand in Southeast Asia, not just in terms of store count but also revenue and profitability,’ he said, quoted from Forbes on Monday, May 25, 2026. Roshan Behera of Redseer Strategy Consultants noted that premium coffee drinkers are seeking more affordable high-quality alternatives. In its April 2025 report, Redseer forecasts Indonesia’s coffee market—including cafes, restaurants, hotels, and retail outlets—to grow at a compound annual rate of 11% to $12.6 billion by 2030 from $6.7 billion in 2024. Redseer predicts that out-of-home coffee consumption will rise to 65-70% of total consumption during this period. Kopi Kenangan has expanded aggressively, opening 347 outlets last year—almost one per day. Previously, the company reported five consecutive years of losses since the Covid-19 pandemic. In 2025, it recorded a net profit of $17 million and 45% revenue growth to $184 million, equivalent to approximately Rp 301.54 billion at the exchange rate. In Q1 2026, sales surged 70% year-on-year to $57 million. By 2030, Kopi Kenangan targets $650 million in revenue.