🧠 Food for thought

Implications, context, and why it matters.

Profitability now fuels Kenangan’s global ambition

• Kenangan Coffee’s move into Taiwan follows a profitable year, not a spending spree to chase growth.
• The company reached unicorn status after a US$96 million series C first closing, then logged its first profitable year 12.
• Group CEO and co-founder Edward Tirtanata has said early fundraising can backfire when too much venture capital comes in at once 3.

Southeast Asia’s retail model is being exported

• Kenangan’s Taiwan debut will gauge demand for Southeast Asia’s tech-enabled retail playbook built around local tastes.
• It joins a new group of regional brands expanding overseas, including Malaysia-based ZUS Coffee 4.
• Kenangan tweaks drinks for each market and runs stores on a tech-first operating base, which raises the bar for global coffee chains.
• A strong start in Taiwan could support the “glocal” model (adapting for local markets while scaling internationally) and push more Southeast Asia direct-to-consumer brands to compete globally.