How I built a billion dollar coffee company called Kopi Kenangan
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- čas přidán 19. 05. 2024
- Edward Tirtanata, 35, is the co-founder and CEO of Indonesian unicorn coffee chain Kopi Kenangan.
He started the business in 2017 with his good friend James Prananto after realizing that major coffee chains in the country were too expensive for the average Indonesian.
Today, there are over 800 outlets of Kopi Kenangan across Indonesia, Malaysia and Singapore.
#CNBC #CNBCMakeIt #KopiKenangan #foundereffect
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Proud to see a home-grown Indonesian company featured in CNBC! Congratulations on all your successes thus far, Edward and team! Maju terus!
Kenangan recently expanded in Singapore, and as a Singaporean, I must admit I was really surprised by the quality of coffee! It is now my favourite place to grab a daily cup. Congratulations Indonesia!
@@LLcreates Glad you like it!
Kopi Kenangan is really a life-saver for middle class in Indonesia with their affordable price and great quality coffee 👍🏻
Kopi Kenangan's strategy of embracing local tastes over a uniform approach is a masterstroke in building brand loyalty and understanding market nuances. 🌍 It's impressive to see how aligning product offerings with cultural preferences can propel growth and set a brand apart in a competitive industry.
This guy is genius.. Mind blowing strategies and thinking. It's complete opposite of starbucks
"This coffee tastes exactly like my ex-girlfriend. It was sweet in the beginning and bitter at the end." LOL
Great story - super bold to scale up and buy locations during Covid shutdown
Amazing speech, smart & to the point.. really answer how big the Kopi kenangan today coz of him..
As an indonesian i am proud of this man and his team.
Kopi kenangan enak.. aq suka 👍❤.. maju terus ya.. hebat owner nya pekerja keras 👍💪 .. terus maju menantang badai bisnis yg selalu ada.. 👍👍🙏
My wife worked at the same building which Kopi Kenangan's first shop opened at Menara Standard Chartered. She drinks kopi Mantan then up until now almost every day. OMG.
Becareful....will eventually develop insomnia, eye problem.
this guys knows what he's doing.
waw masuk cnbc international euy
Amazing episode. More pls! Always great to learn from these entrepreneurs
I love coffee Mantan from coffee kenangan ❤
Wow.. that's cool..
Congrats!my wife loved your coffee and I would say it is a world class standard..
Interestingly, the best coffee in Indonesia is from Indomaret called "Point Coffee"
NOO, Flash coffee is the best
@@mmddyyyy-his nahh never heard of it, while "Point Coffee" are approved by many international travelers and coffee lovers
What's the Point?
@@ericbenjamin487 But Kopi Kenangan is much more successful than Point Coffee
@@ericbenjamin487 Another example in Indonesia is an education startup called Zenius, even though it has the best education content, but it's not more successful than Ruangguru (a unicorn startup)
manual brew still blows them out of the water (or the coffee)
Honestly, here in Malaysia, it's not much cheaper than Starbucks. And compared to local coffee shops, it's actually still expensive. And hyper-localized, there is not much either, as far as I see.
i noticed the same in singapore
@@Lalalalalelo As you can see from the “tall latte index”, Singapore’s Starbucks is already listed as one of the most affordable. So I think it’s tougher to compete with that. I would say the same for Malaysia
Malaysia working class can't spend so much on this Kopi Kenangan, matter of time it will be crushed by luckin coffee
Here in KL, the pricing is similar to Starbucks… not cheaper than any other brand.
Thats quite an exaggeration. Starbucks average msian price is RM 20 per beverage and more while kenangan is below that.
Speaking of the chain, compared with local chain ZUS, kenangan is pricier and honestly not impressed with the taste of drinks. Last drink i ordered its obvious their beans were burnt and tasted horrible. For midpriced coffee ZUS is better
In indo its less half price of starbucks
Avocado iced latte. Almost RM15. Starbucks is RM 16.
Best is buy your own specialty coffee, grinder and Aeropress. Guarantee cheaper and tastes better than most coffee made by cafes.
saya bangga ada merek Kopi Lokal mendunia..gass terus maju..okee gas, bravo lokal brand mendunia
Very Inspiring! Thank you! I'm taking notes!!!
wow masuk cnbc
Great story, keep it up bro
Wow
CNBC didnt mention.. they sell 18K rupiah coffee using lamarzoco
Hopefully I’ll do the same in the future ❤
Now, Fore is the competitor of Kopi kenangan😅
legend
too sweet
There's option if you want to reduce sugar you know 😄
That's what he refers to as hyper localized in the video
love it
Have not heard of this kopi before…. In SG, I drink local kopi 😅
it's much bigger in Indonesia, not surprised if you've never heard it in SG
Cos sg branch totally CMI.
Their staff pull 10 espresso shots at the same time, then leave them out in the open. Only use when got people order…
How will the kopi be nice like this?
never heard about it
Love the name 😂😂😂
Doubt the latest valuation is anywhere near 1b now that the covid startup hype is over. When is their last funding round?
Better than Starbucks
Still expensiwe in Malaysia actually.
I really don’t know what he mean that the tea market are tapped out.
I mean Indonesia are once the biggest market at all.
Can somebody explain the difference?
maybe he meant he had to compete against massive bubble tea chains
omg he make it here
it's matter of times that the price of coffee to increase like the price of cacao. So a company and costumer will depressed
It's huuuge in Indonesia
It takes huge effort to pay back your shareholders. Please make some improvements on long queue at office locations in jakarta
Same name as one fund in Malaysia 🇲🇾
Different name. That is Kenanga
a Pokemon card hustle as a reference for entrepreneurship... y'all can't EVER tell nerds anything ever again for the rest of human existence... that aside now, what's he and hsi company doing to "GIVE BACK" and help with issues plaguing his country, region and actual things that we need to better ourselves as humans going forward... sincere question
Memories coffee ❤
What if I build a coffe brand selling coffee at half price of Kopi Kenangan?
It takes longer time to beat starbucks
5:15 I have a different and more intimate interpretation of that. hehe
"It tastes just like my girlfriend
sweet in the beginning and bitter at the and."
Lol,....but this memories make a successfull brand. So let's call it a win
I don’t think the name will stick in the US or anywhere beside Indonesian. Sounds kind of wack imo.
So, what are they doing that’s really different?
In Sg, they prepare the espresso shots way before hand and leave them out. Then pour into the milk after someone order.
As you can probably guess, the coffee isn’t that great, with old espresso shots.
Its cheaper and its a tech coffee
here in malaysia the outlets oways empty, really funny this is billion dollar company 🤣🤣🤣🤣🤣🤣😂😂😂😂😂😂 mommy daddy got money help open this coffee chain isit?
No lah. Its tech VCs
"This coffee tastes like my ex girlfriend" could have several different meanings 🤭
Kopi Kenangan is the Remembrance Coffee
Fore > kenangan
Malaysia soon?
already
@@trulyhojicha oh just realized it’s under kenangan coffee instead 😊
But please re-branding the place, so many people like me who needs calm or chill to work, study or meeting
Ex in sg
Whoops!! retract my last comment. Mistake
Knowing u are so rich, ur ex GF will come back to u & her name is Starbuck, lol
Aint happening
"instead of sofa or fast wifi, we focus on high quality coffee"
Implying about Starbucks coffee quality 😂
In the same token implying that it's consistently bad.
the same reason why i sit on starbucks instead of kopi kenangan... kecuali di sency ada kenangan signature, coba duduk disana..gak nyaman akhirnya move ke starbucks lagi :)
Duit bokap/nyokap
If I were to open a coffee shop, it will only serve take-out. I don't want customers, especially students, hanging out for HOURS and using the internet without buying drinks.
😂true
Coffee takeout has little brand value to coffee house
no
😂
He still remembers hos ex gf😂 i feel sad for him
This is so misleading...
how?
@@trulyhojicha this is relevant 2 years ago. Not today.
Ceasefire now.
Err, where exactly?
@@ceeril NOW
@@ceerilTexas
Jesus can change yr life ❤
💮😡🤬🤬😡😡🤬😡🤬😡🤬😡🤬😡🤬😡
Not nice
Bullshit
not sure about the quality, it's so bad it has a very synthetic aftertaste that just taste sour ( way less fragrance due to improper roasting, and very cheap syrup mix for the sweetener part), and that is the one made by the barista, don't even get me started on the ones they sell on grocery shelves, glorified cheap coffee that is worse than the instant coffee mixes other fmcg are selling ,it literally taste like they took a shitton of coffee candy and mix it with water, maybe the branding and distribution work for now, but the product itself is an utter failure
Kenangan Kopi is horrible coffee, bland beans with overly sweetened syrup.
I wish that I could understand what he said. Next time, can you add subtitle when they can't speak English well. Thank you, and stay blessed! Congratulations!
Starbucks taste the same everywhere
Kop taste diff everywhere - localisation.
Therefore: "international biz is losing $ and indo biz is profitable" - how do you fight local tastes when youre a foreign indonesia company?
Better than Starbucks