Gabriel Budi Sutrisno · · 2 min readIndonesia’s Fore Coffee set to enter Singapore in Q4
Photo credit: Fore Coffee
Fore Coffee, an Indonesia-based coffee chain, plans to open at least one branch in Singapore by Q4 2023. This would mark its first international foray.
“Singaporeans are heavy coffee drinkers – even heavier than Indonesians. They consume six to seven cups of coffee per week, according to our research,” said the company’s chief marketing officer, Matthew Ardian, as quoted by Kompas.
The move would follow fellow VC-funded local chain Kopi Kenangan’s own regional expansion. The latter opened its first store in Malaysia late last year and has plans to enter Singapore.
Tanamera Coffee, another Indonesian third-wave coffee company, is also present in the city-state.
Singapore aside, Fore Coffee will open more branches in Indonesia, especially in the eastern regions. The company said that this would be done through partnerships with local real estate properties.
As of August, the chain has 114 branches in Indonesia. It aims to increase that number to 170 by November.
Having gone through tough times amid the pandemic, which saw the chain close stores and halt expansion, Fore Coffee claims it has been profitable since Q3 2021. It also appointed a new CEO, Vico Lomar, in January 2022. Lomar previously worked in companies like Dunkin’ Donuts and Krispy Kreme.
Fore Coffee last raised funds in 2019. Investors in the series A round, which totaled US$9.5 million, include East Ventures, Pavilion Capital, and Insignia Ventures Partners.
See also: Fore Coffee brews its way to profitability
A version of this article was originally published by Gilang Kharisma on Tech in Asia Indonesia.
Editing by Patrick Arya and Jaclyn Tiu
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