Jakarta, Indonesia – From a modest coffee stall in 2017 to a global coffee brand valued at over $1 billion with more than 800 locations spread across Southeast Asia, Kopi Kenangan has swiftly emerged as a significant player in the coffee industry.
In 2023, the company reported sales exceeding $100 million, marking a remarkable growth trajectory for the once small-scale endeavor. Founded by Edward Tirtanata and his friend James Prananto, Kopi Kenangan quickly rose to prominence, transforming into a venture-backed unicorn coffee company within seven years of its inception.
Tirtanata’s entrepreneurial journey began in Jakarta before he pursued studies in finance and accounting in the U.S., where he eventually delved into the world of business. Despite facing financial uncertainties within his family’s business, Tirtanata’s resilience and determination paved the path for his entrepreneurial success.
Before venturing into Kopi Kenangan, Tirtanata experimented with the tea chain Lewis & Carroll, ultimately identifying a gap in the market for affordable coffee options in Indonesia. This realization sparked the birth of Kopi Kenangan in 2017, with an initial investment aimed at quality ingredients and a grab-and-go model.
Setting itself apart from competitors, Kopi Kenangan’s success can be attributed to its focus on providing a personalized coffee experience tailored to local tastes, a tech-driven business model, and a hyperlocal approach to expansion. Throughout the challenges of the pandemic, Tirtanata and Prananto leveraged technology to enhance customer experience and accelerate their growth.
With over $230 million in funding and a presence in Indonesia, Malaysia, and Singapore, Kopi Kenangan’s future looks promising. Tirtanata envisions further global expansion and aims to list the business in the U.S., underscoring his commitment to continuous growth and leadership development. The journey may be challenging, but Tirtanata remains optimistic about the endless possibilities that lie ahead.