Tighter value controls enabled the Indonesian grab-and-go espresso chain to considerably slender its losses in 2024. With a significant worldwide push now firmly underway, Kopi Kenangan may be poised for a $1.4bn valuation
Indonesia’s Kopi Kenangan expects to show its first web revenue after narrowing annual losses in 2024 and issuing a powerful gross sales forecast for 2025.
Based in 2017, Kopi Kenangan at present operates almost 1,000 shops in Indonesia and an additional 150 shops throughout 5 worldwide markets, the place it trades as Kenangan Espresso.
The premium espresso chain posted 24% year-on-year web income progress for the 12 months ended 31 December 2024 to succeed in $119m and expects full-year 2025 revenues to extend by an additional 50% to $180m.
After investing in worldwide growth, together with a debut within the Philippines in November 2024, Kopi Kenangan narrowed its full-year losses from $18.4m in 2023 to $2.3m in 2024, in response to a submitting with Singapore’s Accounting and Company Regulatory Authority (ACRA).
