Kenangan Brands to launch affordable coffee brand in ID

Kenangan Brands, the parent company of Indonesian coffee chain, Kenangan Coffee and Fore Coffee, has reportedly launched Satu Kenangan in a bid to offer more affordable options to attract a wider customer base.

Satu Kenangan will operate in a franchise-style as part of its growth plan where interested entrepreneurs can set up their own Satu Kenangan franchise and manage their own operations, according to Tech in Asia.

Don't miss: Kenangan Coffee hires PR agency as it opens doors in Singapore

Its hyperlocal focus serves to complement Kopi Kenangan’s overseas growth with stores in Singapore and Malaysia and with plans to enter a fourth market in the first half of 2024.

Kopi Kenangan also aims to reach 1,800 outlets globally by 2026, added the report.

The coffee chain also hit unicorn status when it raised US$96 million in the first closing of a Series C funding, giving the company a valuation of more than US$1 billion. The round was led by Tybourne Capital Management, with participation from existing investors including Horizons Ventures, Kunlun, B Capital and Falcon Edge Capital.

Kopi Kenangan was founded in 2017 by Edward Tirtanata, James Prananto, and Cynthia Chaerunnisa, targeting a gap in the market in Indonesia between the highly priced coffee served at international coffee chains, and the instant coffee sold in the country's many street stalls.

MARKETING-INTERACTIVE has reached out for more information.

As Kenangan Brands looks to strengthen its domestic foothold, Kenangan Coffee has chosen Zeno Group Singapore as its integrated communications partner for its entry into Singapore.

“This marks a significant milestone for our business, and we were seeking an agency partner who not only understands the Singaporean market but, more importantly, can offer us expert guidance in devising the most effective strategies for an integrated and dynamic media landscape,” said Quennie Tan, head of marketing, Kenangan Coffee.

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