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Even though I’m very much an indoors kind of person, I’d say climbing Mt. Batur in Indonesia is one of the highlights of my life. It’s just the right amount of challenge, and seeing the sun rise while eating a bowl of Indomie upon reaching the peak was a unique feeling.
I also recently went on a solo trip to Thailand, and I’m already looking forward to doing it again – this time in Japan. I haven’t set a date yet, but I already know there’s one thing I want to do when I get there: climb Mt. Fuji.
All of this is to say, I could really do with some equipment from the subject of today’s premium article: Torch, an Indonesian brand specializing in travel gear.
Today we look at:
- How Torch has lit its growth path
- Syfe closing a US$27 million funding round
- Other newsy highlights such as the financial results of companies like Tencent and Foxconn
Premium summary
Torch keeps on climbing
Image credit: Timmy Loen
Indonesian firm Torch is in an enviable position.
It’s been growing steadily over the years and has now received a boost to accelerate its efforts even further. The company, which sells travel gear, has recently received an undisclosed sum of funding from Init 6, the investment firm of Bukalapak founders Achmad Zaky and Nugroho Herucahyono.
- Black is the new black: Based in Bandung, Torch has been net profitable since 2018, according to CEO and co-founder Ben Wirawan. Its 2023 revenue stood at nearly US$10 million, doubling from the previous year.
- More stores on the way: The company currently operates nine physical stores, each in a different Indonesian city, with seven of these opened within the past 18 months. Wirawan says the new funds will be used to reach the company’s targets of having 50 stores by 2029 and exceeding US$70 million in annual revenue by the same year.
- Outdoors and overseas: Torch adds that beyond Indonesia, it could consider expanding to Malaysia, Thailand, and the Philippines because of “strong foreign brand presence in these markets.”
Read more: Init 6 adds travel gear brand Torch to D2C portfolio
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