Latest news with #KopiKenangan
CNBC
03-06-2025
- Business
- CNBC
34-year-old CEO shares his No. 1 piece of advice for entrepreneurs—it helped him build a $1 billion company
Starting a company straight out of college, with no prior business experience, isn't always easy. To support himself and his flavored-water business Cirkul, Garrett Waggoner played professional football in Canada and worked as a car valet in the offseason, he says. His co-founder Andy Gay worked in the women's shoe section of a department store, Waggoner adds. Together, they sought advice from anyone and everyone. Today, Waggoner's top tip for young entrepreneurs has a hint of irony to it: Don't listen to everything you're told, the 34-year-old CEO says. "Every time you get advice from somebody who has grown a business, make sure that you're interpreting it through your own lens," says Waggoner. "What worked for [them] might not work for a different type of business." Waggoner and Gay launched their Tampa, Florida-based business in 2015, got their products — reusable water bottles with built-in disposable flavor cartridges — onto retail shelves in 2018, and obtained a $1 billion pre-money valuation during a $70 million fundraising round in 2022. Some of the advice they received in Cirkul's early years worked, Waggoner says: focusing on solving a real problem rather than trying to build a cool product and "obsessing" over customer experience. Before the pair landed on the Cirkul bottle's current design, they found themselves lost in imagining all of the cool things a new product could do, says Waggoner. Refocusing on solving a problem "made us ground everything we did in the customer's actual need, which is gold," he says. Other pieces of advice were less effective, he says, or simply weren't applicable to the type of business Waggoner and Gay wanted to run. They tried outsourcing their manufacturing, for example — a common practice for consumer product companies — but struggled to find a factory that would work with Cirkul to produce a novel product. "Most folks in the beverage space do cans and bottles, so when approached with something unique, they all declined to lean in," Waggoner says. "We, by necessity, were required to manufacture the product ourselves." Manufacturing their own product required a "tremendous amount of successes, failures and ultimately, learning," he adds. Cirkul's manufacturing currently takes place in warehouses in Tampa and Salt Lake City. Other entrepreneurs agree: You need to figure out when to listen to someone's advice, and when to break from conventional wisdom and trust your gut. "When you're just getting started in a small business, it's easy to drown an opportunity if you let yourself get pulled by different ideas," billionaire entrepreneur and investor Mark Cuban told CNBC Make It in March. Successful business owners take other people's feedback seriously while filtering out bad or irrelevant advice, Cuban added. Kopi Kenangan co-founder and CEO Edward Tirtanata offers similar advice: Don't ever sacrifice what makes your business unique. His Indonesia-based coffee chain, which brought in more than $100 million in sales in 2023, broke into the already-saturated coffee market by creating customized menus for different countries and tailoring items to local tastes and price points, Tirtanata said in May 2024. The strategy ran counter to the conventional wisdom of using a standardized global menu, which many other chains do, he noted. "The next Starbucks is not going to look like a Starbucks, the next McDonald's is not going to look like a McDonald's. The next Google is not going to look like a Google – you need to be radically different in order for you to compete against the incumbent," said Tirtanata.
Business Upturn
21-05-2025
- Business
- Business Upturn
Kopi Kenangan Expands Its Presence in India with Second Store Opening at SDA Market, New Delhi
By Business Wire Published on May 21, 2025, 11:27 IST New Delhi, India: Kopi Kenangan, Southeast Asia's fastest-growing coffee chain and the region's first food and beverage unicorn, is excited to announce the opening of its second Kenangan Coffee store in India at SDA Market, New Delhi. Within a month following the successful launch of its inaugural store at Pacific Mall, Tagore Garden, Delhi, this new store opening marks a significant step in the brand's expansion in one of the world's fastest-growing café markets. The brand, backed by investors like Peak XV, Sequoia Capital, Serena Ventures by Serena Williams, and B Capital by Eduardo Saverin (Co-Founder of Meta), continues to build momentum in bringing its signature Indonesian coffee experience to coffee lovers in India. Expanding Reach in India's Thriving Coffee Culture India's coffee consumption is experiencing a significant surge, with total consumption projected to surpass one million bags between 2023 and 2024. This growth is driven by factors such as rising disposable incomes, urbanization, and an increasingly dynamic café culture, particularly in cities like New Delhi. As the market evolves, there is also a growing demand for health-conscious choices, with consumers shifting towards healthier, natural alternatives in their beverages. Kenangan Coffee is well-positioned to meet this demand with its use of Gula Aren, a natural palm sugar that offers a rich, flavorful taste with a lower glycemic index. This unique ingredient aligns with the brand's commitment to providing a healthier alternative to refined sugars, catering to modern Indian coffee drinkers who seek both taste and wellness in their coffee choices. Edward Tirtanata, Co-founder & Group CEO of Kenangan Brands, expressed his excitement about the new store launch, saying, ' After the overwhelming response at Pacific Mall, we are thrilled to open our second store in SDA Market, Delhi. The Indian market has shown great enthusiasm for our unique offerings, and we are excited to continue building our presence here. We remain committed to delivering high-quality coffee that resonates with local preferences while offering an authentic Indonesian experience.' The new SDA Market location will feature a varied menu of over 35 beverages and food items, blending Indonesian, Indian, and international flavors. Each drink and dish is crafted using the freshest ingredients, ensuring that every customer experiences a unique fusion of both cultures in every sip and bite. Commitment to Local Growth and Community Founded in 2017, Kopi Kenangan has expanded to over 1000 outlets with a presence across Indonesia, Malaysia, Singapore, the Philippines, India, and Australia. With the opening of its second store in India, the company is on track to continue its international expansion, aiming for 10+ outlets in India by the end of 2025. The company plans to grow its team in India, including hiring more than 100 employees across coffee chain operations, office roles, and sourcing partnerships. Sanjay Mohta, Vice President & General Manager – India, commented, 'Our expansion in Delhi has been a resounding success, and we're excited to build on that momentum with our second store at SDA Market. We are focused on blending Indonesian craftsmanship with local flavors to create a coffee experience that resonates with India's diverse coffee culture. We look forward to growing our community of coffee lovers and making a lasting impact on the local café scene.' In line with its growth strategy, Kenangan Coffee remains committed to supporting local agriculture by sourcing select coffee offerings from Indian producers, complementing its range of Indonesian coffee. Additionally, the company continues to invest in local talent, providing employment opportunities across various roles to strengthen its presence and connection to the community. For more information, please visit: Kopi Kenangan is Indonesia's fastest growing New Retail F&B chain well-known for its great tasting coffee. Founded in 2017, Kopi Kenangan initially targets a gap in the market between high-priced coffee served by international coffee chains and instant coffee sold at many of the country's roadside kiosks and street stalls. Through understanding and exploring local flavors as well as a 'new retail' online and offline model that focuses on the customer experience, Kopi Kenangan envisions introducing high-quality local coffee to the world through affordable quality products, fast and friendly service, quality control, and creative business development. Disclaimer: The above press release comes to you under an arrangement with Business Wire. Business Upturn takes no editorial responsibility for the same. Business Wire is an American company that disseminates full-text press releases from thousands of companies and organizations worldwide to news media, financial markets, disclosure systems, investors, information web sites, databases, bloggers, social networks and other audiences.
Yahoo
12-04-2025
- Business
- Yahoo
Coffee chain Kopi Kenangan opens first store in India
Indonesian coffee chain Kopi Kenangan has made its debut in India with a store at the Pacific Mall, New Delhi. The company plans at least ten stores in the country by the end of 2025, with a longer-term goal of 50. The brand, known internationally as Kenangan Coffee, is investing up to $4.6m in its retail expansion and the development of a local coffee sourcing programme. The move is part of its strategy to introduce a signature Indonesian coffee experience to the Indian market. 70% of the new stores will follow a traditional café format, while the remaining 30% will be small-format takeaway sites. Kopi Kenangan CEO Edward Tirtanata stated: 'India's vast young population and growing appreciation for diverse coffee experiences make it an ideal market for Kenangan Coffee. We are committed to delivering high-quality coffee that resonates with local preferences, creating memorable moments for every customer.' Kopi Kenangan aims to capitalise on the growing health and wellness trend among Indian consumers by utilising Gula Aren, a natural sweetener from Indonesia's Arenga pinnata palms. The chain's plan to source coffee locally in India is not only intended to enhance its sustainability credentials but also to reduce transportation costs and improve supply chain efficiencies. This approach mirrors the strategies of domestic speciality coffee chains such as Blue Tokai Coffee Roasters, Third Wave Coffee and Subko Coffee Roasters, which have successfully marketed their use of locally sourced coffee. In terms of pricing, Kopi Kenangan aims to compete with value-focused domestic chains abCoffee and Nothing Before Coffee. The company has set competitive price points from Rs 99 ($1.15) for espressos and Rs 129 for americanos, while also offering a premium range of beverages that go up to Rs 329. Kopi Kenangan general manager India Sanjay Mohta stated: 'Our mission is to blend Indonesian craftsmanship with local flavours, offering a unique coffee experience that contributes to India's vibrant coffee culture. We look forward to building a strong community of coffee enthusiasts across the country.' "Coffee chain Kopi Kenangan opens first store in India" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
11-04-2025
- Business
- Yahoo
Coffee chain Kopi Kenangan opens first store in India
Indonesian coffee chain Kopi Kenangan has made its debut in India with a store at the Pacific Mall, New Delhi. The company plans at least ten stores in the country by the end of 2025, with a longer-term goal of 50. The brand, known internationally as Kenangan Coffee, is investing up to $4.6m in its retail expansion and the development of a local coffee sourcing programme. The move is part of its strategy to introduce a signature Indonesian coffee experience to the Indian market. 70% of the new stores will follow a traditional café format, while the remaining 30% will be small-format takeaway sites. Kopi Kenangan CEO Edward Tirtanata stated: 'India's vast young population and growing appreciation for diverse coffee experiences make it an ideal market for Kenangan Coffee. We are committed to delivering high-quality coffee that resonates with local preferences, creating memorable moments for every customer.' Kopi Kenangan aims to capitalise on the growing health and wellness trend among Indian consumers by utilising Gula Aren, a natural sweetener from Indonesia's Arenga pinnata palms. The chain's plan to source coffee locally in India is not only intended to enhance its sustainability credentials but also to reduce transportation costs and improve supply chain efficiencies. This approach mirrors the strategies of domestic speciality coffee chains such as Blue Tokai Coffee Roasters, Third Wave Coffee and Subko Coffee Roasters, which have successfully marketed their use of locally sourced coffee. In terms of pricing, Kopi Kenangan aims to compete with value-focused domestic chains abCoffee and Nothing Before Coffee. The company has set competitive price points from Rs 99 ($1.15) for espressos and Rs 129 for americanos, while also offering a premium range of beverages that go up to Rs 329. Kopi Kenangan general manager India Sanjay Mohta stated: 'Our mission is to blend Indonesian craftsmanship with local flavours, offering a unique coffee experience that contributes to India's vibrant coffee culture. We look forward to building a strong community of coffee enthusiasts across the country.' "Coffee chain Kopi Kenangan opens first store in India" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
